LEGAL NOTICE OF SALE OF REAL ESTATE FOR PRIVATE

LEGAL NOTICE OF SALE OF REAL ESTATE

FOR PRIVATE REDEVELOPMENT

AND INSTRUCTIONS TO BIDDERS

Notice is given hereby that the City of Hammond Redevelopment Commission (“HRC”) will open and consider written offers of purchase and proposals for redevelopment (the “Redevelopment Proposals”) of a certain parcel of real estate more particularly depicted and/or described on Exhibit “A” (the “Redevelopment Parcel”). Sealed Redevelopment proposals will be received by HRC at 5925 Calumet Avenue, Hammond, IN 46320 (“Planning and Development Offices”) until 4:00 p.m., local time, on February 21, 2023 (the “Receipt Deadline”). HRC will open the Redevelopment proposals at 4:30 p.m., local time, on February 21, 2023 at the HRC regularly scheduled meeting. The offer by HRC of the Redevelopment Parcel for sale and 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 to the Redevelopment Parcel; and (2) Information regarding the proposed use of the Redevelopment Parcel. It is the desire of the HRC that the Redevelopment Parcel remain a commercial/professional business building.

Title: HRC shall provide insurable title in compliance with a schedule jointly established by HRC and the Successful Bidder. HRC will also provide a copy of any and all Leases affecting the Redevelopment Parcel, and the HRC will ultimately assign all Leases to 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 HRC and the Successful Bidder.

Due Diligence Items: HRC shall provide the following with respect to the Redevelopment Parcel: (a) title insurance; (b) the right of entry to perform tests and inspections; any Commercial Leases affecting the Redevelopment Parcel.

Approvals: The offering of the Redevelopment Parcel is contingent upon the HRC and the Successful Bidder obtaining the necessary and required approvals to complete the above due diligence items and any other governmental requirements.

Acquisition Date: The sale and purchase of the Redevelopment Parcel must be closed no later than 90 days of the Purchase Agreement being executed, or as otherwise mutually agreed upon.

Minimum Price: The entire disposition parcel is valued at $342,000.00

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

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

Exhibit A Description of the Redevelopment Parcel

Requests for access to inspect the Redevelopment Parcel should be directed to: Africa K. Tarver, (219) 853-6508, ext. 8.

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 HRC Offices by 4:00 p.m., local time, on February 21, 2023; 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 HRC (the “Proposal Requirements”). Each bidder shall submit two originals, and ten complete copies, 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 HRC.

HRC 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, HRC shall take into consideration the following.

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

(b) The schedule for completion of the development.

(c) The general business reputation of the bidder.

(d) The experience of the bidder with respect to the planning and construction of redevelopment projects (the “Similar Projects”).

(e) The ability of the bidder to complete the development on schedule, within budget, and in compliance with plans, permits, and laws.

(f) The financial resources committed and available to fund completion of the development.

(g) The development and site plans for the development and other improvements; and the compatibility of such plans with the neighboring building and the nearby neighborhoods.

(h) 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.

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

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

Date: February 3, 2023.

CITY OF HAMMOND REDEVELOPMENT COMMISSION

EXHIBIT “A”

OFFERING SHEET

Minimum Sales Price: $342,000.00

DESCRIPTION OF PROPERTY:

PARCEL 1: UNITS 1-B, II, III, IV AND V WITH AN UNDIVIDED INTEREST IN THE COMMON AREAS EQUIPMENT AND FACILITIES OF THE INDIANA PROFESSIONAL AND COMMERCIAL BUILDING, A CONDOMINIUM PLAN ORGANIZED UNDER THE HORIZONTAL PROPERTY ACT OF THE STATE OF INDIANA AND DULY RECORDED AS DOCUMENT NO. 740465 IN PLAT BOOK 56, PAGE 55, IN THE OFFICE OF THE RECORDER OF LAKE COUNTY, INDIANA.

Parcel Nos.

45-02-36-179-002.000-023,

45-02-36-179-003.000-023,

45-02-36-179-004.000-023

and

45-02-36-179-005.000-023

Commonly known as 5244-5246 Hohman Avenue, Hammond

2/3 – 110610 HSPAXLP