Foreclosed Apt. Community, Indianapolis, IN

 
Property Location

8808 Rue Madeline
Indianapolis, IN 46226

Sealed Bids Due

8808 Rue Madeline
Indianapolis, IN 46226

Inspection

2/22/12 at
10 AM ET and
1 hr. prior to auction

Contact

Tranzon Asset Advisors
Indiana Operations Center
(877) 374-4437
jbarber@tranzon.com

Terms and conditions

Sealed Bids Due

2/29/12 @ 11:00 AM ET

Documents to download:
Phase I Environmental Report
Financial Information
Sealed Bid Package

  • Subscription/Log in required
  • Confidentiality Agreement required
Property Number

DG576

Property Type

Commercial Real Estate-Multi-unit apartment and condominium

 

Foreclosed Apt Community, Indianapolis, IN
• 460± units
• Good unit mix of 1, 2 and 3 BR
• Individual electric meters
• County: Marion, Parcel ID# 4001153


Sealed Bids Due Onsite: 2/29/2012 at 11 AM ET
Suggested Minimum Bid:  $1,500,000


Pinnacle Square consists of 460± one, two and three bedroom units nicely situated on nearly 20 acres of level property.  The property is in good condition with over 250 occupied units, but includes approximately 68 “down” units requiring varying levels of renovation. Amenities include recently refurbished community center, swimming pool, two tot lots, and laundry facility.  
EDWARD D. DURNIL, IN AUCTIONEER/BROKER #AU10000242. 10% BUYERS PREMIUM, $100,000 INITIAL DEPOSIT REQUIRED TO BID AND OTHER TERMS APPLY.





Terms and Conditions

The following summary of Terms & Conditions of Auction Sale is only intended to provide you a brief outline. For a complete copy, either download the Property Information Package, if available, or contact Indiana Operations Center at (877) 374-4437 or jbarber@tranzon.com All bidders must agree to all of the Terms & Conditions of Auction Sale prior to bidding at any Tranzon auction. Listings may be withdrawn or modified without notice at anytime.

For general information on the auction process, please review the FAQ-Frequently Asked Questions.


Buyers Premium: 10% Buyers Premium based on the high bid.
Closing: On or before 3/28/2012, sold in As-Is condition, no contingencies.
Deposit Amount: $100,000 cashier's check with sealed bid package. Balance of 10% due within 24 hrs. via wire transfer after being notified as successful bidder.
Broker Co-op: 2% of the high bid will be paid to a properly registered broker at settlement.

Agency Disclosure: The member company acting as auctioneer/agent is an agent for the seller only. Disclaimer: Information contained herein is believed to be correct to the best of auctioneer/agent’s knowledge but is subject to inspection and verification by all parties relying on it. Sellers, their representatives and auctioneer/agent shall not be liable for inaccuracies, errors, or omissions. All square footage and other dimensions are approximate. This offering is subject to prior sale and may be withdrawn, modified or cancelled at any time without notice.

 
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