NOTE SALE - 59-Room Former Quality Inn

Exterior 1Exterior 2Front DeskLobby sitting areaGuest Room 1Guest Bathroom 1Banquet Space 1Pool 2
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    Offers Due

    10/18/2017
    Auction

    Hotel/Hospitality
    Vincennes

    60,000 SF
    5.24 Acres

    Highlights

    BANK-DIRECTED NOTE SALE

    OFFERS DUE: OCTOBER 18

    Appraised Value: $3,100,000
    Current Principal Due: $2,137,051

    PROPERTY NOT CURRENTLY IN OPERATION

    ALL OFFERS CONSIDERED!

     PROPERTY HIGHLIGHTS
    • Features enclosed pool atrium, banquet space and fitness center
    • On-site restaurant former Huddle House and bar Marquee Lounge
    • 5.24 acre site at US-50 & US-150 Interchange

    LOCAL INFORMATION
    Vincennes, IN is a community of nearly 20,000 and the oldest city in Indiana. Centrally located in the heart of Mid-America, the City is almost equidistant between Indianapolis, IN, Louisville, KY and St. Louis, MO. Vincennes also serves as the county seat of Knox County and is home to Vincennes University, Indiana’s first college and one of the oldest institutions in the United States. The Vincennes community can best be summed up as “Small Town Living with Big City Flair.” The City offers many of the amenities found in larger cities but is coupled with the same type of citizen interaction and environment that is found in small towns across the Midwest.

    CLICK HERE TO ACCESS DUE DILIGENCE DOCUMENTS

    Description

    SUBMISSION OF OFFERS
    The deadline for submitting offers to purchase the note for this property is scheduled for October 18, 2017 by 5:00 p.m. CDT. Offers should be submitted to Hilco Real Estate via email at jkeith@hilcoglobal.com.
    Please contact a Hilco representative at 855.755.2300 for further instructions on the submission of an offer. Bids should be submitted on the Letter of Intent (LOI) form available for download from Hilco’s website.

    ON-SITE INSPECTIONS
    October 10 – 11:00 a.m. - 12:00 p.m. CDT

    DOCUMENTS AVAILABLE
    A Virtual Data Room has been assembled and includes detailed property information and other applicable information. To gain access to the Virtual Data Room, buyers must complete a Non-Disclosure Agreement (NDA) and email it to smadura@hilcoglobal.com.

    REQUIREMENTS OF THE SUCCESSFUL BIDDER
    The successful high bidder will be required to sign the Purchase and Sale Agreement and submit a deposit in the amount of 10% of the Purchase Price by cashiers or certified check or wire transfer within three (3)
    business days following Seller’s acceptance. The property is currently in foreclosure proceedings. The winning bidder of the note will be allowed to take the Bank’s position and complete the foreclosure process.

    CLOSING DATE
    The Standard Closing Date shall be on or before 30-days from Seller’sAcceptance.

    In cooperation with Steve Mathis Indiana Broker Lic. #RB15000976 & Indiana Auctioneers Lic. #AU11500061.

    Contact Broker

    James Keith
    (P) - (270) 304-1020
    (E) - jkeith@hilcoglobal.com

    Steve Madura
    (P) - (847) 504-2478
    (E) - smadura@hilcoglobal.com