Bylt: Real Time Construction News & Market Data
Construction Everyday. Real Time News and AEC Industry Market Data. Powerful News For The Architectural, Engineering & Construction Industries.


LEGAL NOTICE OF SALE OF REAL ESTATE AND INSTRUCTIONS TO


LEGAL NOTICE OF SALE OF REAL ESTATE AND INSTRUCTIONS TO BIDDERS

Notice is given hereby that the City of East Chicago Redevelopment Commission (“ECRC”) will open and consider written offers of purchase and/or proposals for redevelopment (the “Redevelopment Proposals”) of a certain parcel of real estate commonly known as 531 W. Columbus Drive East Chicago, Indiana and more particularly depicted and/or described on Exhibit “B” (the “Redevelopment Parcel”). Sealed Redevelopment proposals will be received by ECRC at 4525 Indianapolis Boulevard, East Chicago, IN 46312 (“Planning and Development Offices”) until 2:00 p.m., local time, on March 2 2021 (the “Receipt Deadline”). ECRC will open the Redevelopment proposals at 4:30 p.m., local time, on March 2, 2021 at the ECRC regularly scheduled meeting. The offer by ECRC of the Redevelopment Parcel for sale and/or the redevelopment is made on the conditions set forth below (the “Conditions for Redevelopment”).

Required Use: Bidder shall supply: (1) sufficient information relating to any proposed improvements, (2) Bid price.

Title: ECRC shall provide insurable title in compliance with a schedule jointly established by ECRC and the Successful Bidder.

Environmental Remediation: If there is environmental contamination on the Redevelopment Parcel, then the Successful Bidder shall perform all actions required to clean up and/or remediate the Redevelopment Parcel in compliance with a plan jointly established by ECRC and the Successful Bidder.

Due Diligence Items: ECRC shall provide the following with respect to the Redevelopment Parcel: (a) title insurance; and (b) the right of entry to perform tests and inspections. Note the property is being sold AS IS.

Acquisition Date: The sale and purchase of the Redevelopment Parcel must be closed no later than 90 days of award to the successful bidder or as otherwise mutually agreed upon.

Completion Date: It applicable, the redevelopment of the Redevelopment Parcel, including, without limitation, the construction of any improvements thereon shall be completed based upon a mutually agreeable schedule and Development Agreement between the ECRC and Successful Bidder.

Minimum Price: The entire disposition parcel is valued at $1,200.00.

Proposal Requirements: Each Redevelopment Proposal must comply with the requirements of this notice.

ECRC has caused to be prepared the exhibits listed below (the “Exhibits”), and ECRC will make all of the exhibits available at the ECRC offices for examination and use by all interested persons. This notice, together with the exhibits, constitutes the “Bid Package.”

Exhibit A Instructions to Bidders – Legal Notice (this document)

Exhibit B Description of the Redevelopment Parcel

Requests for access to inspect the Redevelopment Parcel should be directed to: Frank Rivera, (219) 391-8513

Each Redevelopment Proposal must: (a) include all of the information requested in the bid package; (b) if submitted by a trust (as defined in Ind. Code 30-4-1-1 (a)), identify: (i) each beneficiary of the trust; and (ii) each settler empowered to revoke or modify the trust; (c) be received in its entirety in the ECRC Offices by 2:00 p.m., local time, on March 2, 2021; and (d) include a cashier’s check or certified check in the amount of 5% of the value of the parcel, payable to the order of ECRC (the “Proposal Requirements”). Each bidder shall submit two originals, of its Redevelopment Proposal. All exhibits, drawings, renderings, other material, and other information submitted with the sealed Redevelopment Proposal shall be retained by and shall become the property of ECRC.

ECRC reserves the right to: (a) consider or reject without consideration any Redevelopment Proposals that do not satisfy the Proposal Requirements; (b) reject any or all Redevelopment Proposals; and (c) make an award to the highest and best bidder, even if the Redevelopment Proposals submitted by the highest and best bidder does not satisfy all of the Conditions for Redevelopment. In determining the highest and best bidder, ECRC shall take into consideration the following.

(a) The cost, size, character, and quality of the bid.

Related News

(b) The schedule for completion of closing.

(c) The general business reputation of the bidder.

(d) The financial resources committed and available.

(e) Satisfaction by the bidder of the Proposal Requirements; compliance of the bidder with the conditions for Redevelopment; and satisfaction by the bidder of any additional requirements of the Bid Package.

(f) Any other factors that ECRC determines to be important in carrying out and serving: (1) the conditions for redevelopment; (2) the legal purposes of ECRC; and (3) the interest of The City of East Chicago, Indiana, and its residents, from the standpoint of both human and economic welfare.

A successful bidder will be required to execute a binding Agreement with ECRC, committing the bidder to: (1) satisfying the conditions for closing; and (2) fulfilling the commitments made by the bidder in its Redevelopment Proposal.

Date: February 3, 2021.

CITY OF EAST CHICAGO REDEVELOPMENT COMMISSION

EXHIBIT “B”

OFFERING SHEET

Minimum Sales Price:

$1,200.00

DESCRIPTION OF PROPERTY:

KEY NUMBER:

45-03-29-203-002.000-024

LEGAL DESCRIPTION: LOT 16, IN BLOCK 3, IN A SUBDIVISION OF BLOCKS 3, 4, AND 9 AND THE NORTH HALF OF BLOCK 10, IN A SUBDIVISION OF THE WEST 1317.5 FEET OF THE NORTHEAST QUARTER OF SECTION 29, TOWNSHIP 37 NORTH, RANGE 9, WEST OF THE 2ND P.M., EXCEPT THE EAST 50 FEET OF THE SOUTH 124 FEET OF SAID BLOCK 9, AND EXCEPT THE RIGHT OF WAY OF THE STATE LINE AND INDIANA CITY RAILWAY, LAKE COUNTY, INDIANA , AS SHOWN BY THE RECORDED PLAT OF SAID SUBDIVISION IN THE RECORDER’S OFFICE OF LAKE COUNTY, INDIANA, AS THE SAME APPEARS OF RECORD IN PLAT BOOK NO. 5, PAGE 13.

Commonly known as 531 W. Columbus Drive, East Chicago IN 46312

2/8, 15-62339-hspaxlp

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More