m a r k e t i n g m e m o r a n d u m worldbid auction€¦ · • 7719 s lowe, chicago, il note...

M A R K E T I N G M E M O R A N D U M

NOTE & FEE SIMPLE SALEOF C H ICAGOLAN D PROPERTI ES

WOR LDBI D AUCTION

J U LY 31 ST NOON PT

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OFFERING INFORMATION3

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INVESTMENT OVERVIEW

PROPERTY INFORMATION

310.798.3123BraunWorldbid.com

Offices throughout the United States servingthe North American Markets

BRE #01900930 | BOND #0738345

Auction Representative BraunDavid Jaffe

[email protected]

12-13 BIDDING INFORMATION

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310.798.3123 | Braunworldbid.com

OFFERING INFORMATIONTHIS IS AN OFFERING MEMORANDUM prepared by Braunco Inc. (“BRAUN”) and Homesmart International, LLC ("Broker") is intended for prospective buyers interested in the Fee Simple and Notes being sold as a portfolio in the properties as more particularly described herein (“Property”). This memorandum contains information pertaining to the Property and the sales process. It does not purport to provide a necessarily accurate summary of the Property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective buyers may need or desire. No representation is made by Braun, Broker, or Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of the Property. Although the information contained herein is believed to be correct, BRAUN, Broker, Seller and their agents, disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further BRAUN, Broker, Seller and their agents disclaim any and all liability for representations and warranties, expressed and implied, contained in, or for omissions from, this Offering Memorandum or any other written or oral communication transmitted or made available to the recipient. This Offering Memorandum does not constitute a representation that there has been no change in the condition of the Properties since the date of preparation of this Offering Memorandum. Analysis and verification of the information contained in this Offering Memorandum and the due diligence information available to Buyers is solely the responsibility of each Buyer.

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NOTES & FEE SIMPLE SALE DESCRI PTION

Overview

Braun International’s Worldbid platform is pleased to present the opportunity to acquire a mixed portfolio of residential real estate Notes/Loans and Fee Simple properties. On behalf of the Seller, Braun and Broker are soliciting offers from prospective bidders for the purchase of the portfolio in its entirety.

Sale Highlights

The Portfolio of Notes for Sale offers prospective bidders the opportunity to acquire a portfolio of single family and multifamily properties located in metro Chicago.

The Underlying Loan is secured by a Mortgage, Security Agreement on a portfolio of residential properties non-tenanted.

The properties are not stabilized.

Diversity of properties – The Portfolio contains a diverse mix of single family and multifamily properties located in one of the most dense markets in the U.S. The Portfolio is located in a tight 10 mile geographic area with only a few outliers.

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Chicago, Illinois

Strong Demand Generators – Chicago – one of the most vibrant business and real estate markets in the U.S. and largest Midwest city.

There it is: the famous Chicago skyline set against the sweeping shore of Lake Michigan. You’ll quickly appreciate this urban-meets-natural beauty when your feet hit the ground in the nation’s third-largest city. In the heart of the Midwest, Chicago boasts soaring skyscrapers, 77 colorful neighborhoods, 42 kilometers of lakefront with 26 beaches and 580 parks and green spaces. Equally impressive are the dining options – 7,300 restaurants and more than 65 craft breweries – outstanding arts and culture, urban recreation along the waterfront, and world-famous events.

This cosmopolitan playground is bursting with things to do. Sightseeing options range from Chicago icons like Millennium Park’s sculptures, fountains, gardens and event spaces to awe-inspiring architecture by Frank Lloyd Wright, Frank Gehry, Daniel Burnham and Louis Sullivan. Get above it all on The Ledge, a glass platform on the Skydeck at Willis Tower, or the 360 Chicago Observation Deck on North Michigan Avenue, where the TILT experience leans you out 300 meters above Michigan Avenue.

Take in the beautiful cityscape with a stroll along the Chicago Riverwalk, where you can enjoy a waterside meal, sip a drink or set out on an architecture cruise on the Chicago River. Take the children to Lincoln Park Zoo, Navy Pier and Wrigley Field, three iconic and family-friendly attractions, or rent bikes and pedal along the 29-kilometer Lakefront Trail.

Each of Chicago’s 77 neighborhoods offers a distinct experience. Ethnic and immigrant enclaves, such as Chinatown, Little Italy, Avondale, Andersonville, Pilsen and Lincoln Square, reflect the city’s multicultural influences, from German and Polish to Mexican and Chinese. Check out neighborhood bars and live music in Bucktown and Wicker Park. Uptown’s historic theaters, music halls and Art Deco buildings make it a cultural playground. The Loop is Chicago’s bustling downtown district, where you’ll find must-see landmarks and plentiful options for dining, shopping and nightlife.

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Chicago is renowned for its cultural offerings with more than 60 museums and a dedicated Museum Campus, home to The Field Museum, Shedd Aquarium and Adler Planetarium. Don't miss the Art Institute of Chicago, containing 300,000 works in its permanent collection, and Museum of Science and Industry, the largest in the Western Hemisphere.

As the only U.S. city with five regional Tony Award-winning theaters – Goodman, Chicago Shakespeare, Lookingglass, Victory Gardens and Steppenwolf – Chicago’s theater scene takes center stage. You can catch shows at more than 200 venues in addition to performances from esteemed companies such as Joffrey Ballet, Lyric Opera and Chicago Symphony Orchestra. Top Cuisine, Shopping and Music

Chicago’s culinary scene is filled with star chefs, ethnic eateries and award-winning fine dining, including 25 Michelin-starred eateries. Just as famous are the casual classics like Chicago-style hot dogs and deep-dish pizza. In fact, Bon Appetit named Chicago the 2017 Restaurant City of the Year. Cap off your meals with visits to specialty cocktail bars, historic pubs and more than 65 craft breweries.

Shopping is an equally big deal here. Don’t miss Michigan Avenue’s 13-block stretch, The Magnificent Mile, with more than 460 stores. Explore major department stores, luxury boutiques and the can't-miss, multilevel Water Tower Place mall. If it’s music you’ve come for, you’ll find everything from live music venues to outdoor events like Millennium Park concerts, Lollapalooza and the Chicago Blues and Jazz Festivals. For nightlife, head to the many cocktail lounges, sports bars or dance clubs that dot the entertainment landscape. Opt for tickets to a legendary comedy club, The Second City, where comedians such as Tina Fey, Steve Carell and Stephen Colbert got their start.

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Chicago Area Properties – Fee Simple and Note Sale

• 6502 S Marshfield, Chicago, IL Fee Simple Sale

• 6657 S Wabash, Chicago, IL Fee Simple Sale

• 7017 S Stewart, Chicago, IL Fee Simple Sale

• 15635 Dobson, Dolton, IL Fee Simple Sale

• 6050 S Hermitage, Chicago, IL Note Sale

• 6600 S Marquette, Chicago, IL Note Sale

• 6718 S. Union St, Chicago, IL Note Sale

• 6228 S. Artesian, Chicago, IL Note Sale

• 637 E. 88th Place, Chicago, IL Note Sale

• 7719 S Lowe, Chicago, IL Note Sale

• 1621 W. Marquette Road, Chicago, IL Note Sale

• 6925 S. Ada Street, Chicago, IL Note Sale

• 24637 S Wildwood, Crete, IL Note Sale

• 780 E. 164th Street, South Holland, IL Note Sale

NOTE OWNED BY PROPERTY ADDRESS OF NOTELOAN BALANCE

5-1-2020PROPERTY TYPE

WB Riverdale Foreclosure, LLC 6050 S Hermitage, Chicago, IL $529,485 Residential

WB Riverdale Foreclosure, LLC 6600 S Marquette, Chicago, IL $801,804 Residential

WB Riverdale Foreclosure, LLC6718 S. Union St, Chicago, IL 6228 S. Artesian, Chicago, IL 637 E. 88th Place, Chicago, IL

$1,393,668 Residential

WB Riverdale Foreclosure, LLC7719 S Lowe, Chicago, IL 1621 W. Marquette Road, Chicago, IL 6925 S. Ada Street, Chicago, IL

$1,365,443 Residential

WB Riverdale Foreclosure, LLC 24637 S Wildwood, Crete, IL $423,902 Residential

WB Riverdale Foreclosure, LLC 780 E. 164th Street, South Holland, IL $263,889 Residential

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6502 S MARSHFIELD, CHICAgO, IL 60636

APN: 20-19-222-022

PROPERTY TYPE: MULTI-FAMILY

NUMBER OF UNITS:

2

BEDROOMS 4

BATHROOMS 2

BUILDING SF: 2,262

LOT SF: 3,075

YEAR BUILT 1912

6657 S WAbASH AvENUE, CHICAgO, IL 60637

APN: 20-22-105-623

PROPERTY TYPE: SFR

BEDROOMS 3

BATHROOMS 2.5

BUILDING SF: 1,687

LOT SF: 3,500

YEAR BUILT 1907

DETACHED GARAGE

2 SPACES

7017 S STEWART AvENUE, CHICAgO, IL 60621

APN: 20-21-420-005


NUMBER OF UNITS:

2

BEDROOMS 4

BATHROOMS 2

BUILDING SF: 2,088

LOT SF: 4,125

YEAR BUILT 1886

DETACHED GARAGE

2 SPACES

15635 DObSON AvENUE, DOLTON, IL 60419

APN: 29-14-152-003

PROPERTY TYPE: SFR

BEDROOMS 3

BATHROOMS 2

BUILDING SF: 1,360

LOT SF: 6,835

YEAR BUILT 1960

ATTACHED GARAGE

1 CAR

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6050 S HERMITAgE AvENUE, CHICAgO, IL 60636

APN: 20-18-412-04


NUMBER OF UNITS:

4

BEDROOMS 8

BATHROOMS 4

BUILDING SF: 3,780

LOT SF: 4,040

YEAR BUILT 1929

6600 S. MARqUETTE DRIvE, CHICAgO, IL 60637

APN: 20-22-225-018


NUMBER OF UNITS:

2

BEDROOMS 6

BATHROOMS 2

BUILDING SF: 2,166

LOT SF: 3,026

YEAR BUILT 1900

6228 S. ARTESIAN AvENUE, CHICAgO, IL 60629

APN: 19-13-430-023

LOT SF: 3,750

6718 SOUTH UNION AvENUE, CHICAgO, IL 60621

APN: 20-21-301-032


NUMBER OF UNITS:

4 OR 2 OR ?

BEDROOMS 12 (ALL 4 APNS)

BATHROOMS 5 (ALL 4 APNS)

LOT SF: 3,811 (PER FIDELITY 4 DIFFERENT SIZES)

YEAR BUILT 1905 OR 1920 OR 1925 OR 1974

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637 EAST 88TH PLACE, CHICAgO, IL 60619

APN: 25-03-214-014

PROPERTY TYPE: SFR

BEDROOMS 2

BATHROOMS 1

BUILDING SF: 680

LOT SF: 3,125

YEAR BUILT 1920

7719 S LOWE AvE, CHICAgO, IL 60620

APN: 20-28-317-005


NUMBER OF UNITS:

2

BEDROOMS 7

BATHROOMS 2

BUILDING SF: 3,008

LOT SF: 5,040

YEAR BUILT 1895

1621 W MARqUETTE RD, CHICAgO, IL 60636

APN: 20-19-407-002


NUMBER OF UNITS:

2

BEDROOMS 5

BATHROOMS 2

BUILDING SF: 2,266

LOT SF: 3,125

YEAR BUILT 1911

6925 S ADA ST., CHICAgO, IL 60636

APN: 20-20-321-011


NUMBER OF UNITS:

2

BEDROOMS 5

BATHROOMS 2

BUILDING SF: 2,398

LOT SF: 3,125

YEAR BUILT 1905

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24637 S WILDWOOD, CRETE, IL 60417

APN: 23-16-07-409-015

PROPERTY TYPE: SFR

BEDROOMS 5

BATHROOMS 4.5

BUILDING SF: 3,729

LOT SF: 14,375

YEAR BUILT 1992

780 E. 164TH STREET, SOUTH HOLLAND, IL 60473

APN: 29-22-205-058

PROPERTY TYPE: SFR

BEDROOMS 3

BATHROOMS 1.5

BUILDING SF: 1,323

LOT SF: 6,875

YEAR BUILT 1975

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b I D D I N g I N F O R M A T I O N

Braun Worldbid platform is soliciting bids from prospective bidders for the purchase of the Note and Fee Simple Portfolio pursuant to the timeline set forth herein. The Portfolio will be sold absolutely and to the highest bidder regardless of price. Pre Auction offers may be submitted anytime during the due diligence timeline and no later than 72 hours prior to the bidding deadline. The seller has the sole discretion to sell the portfolio prior to the auction date of July 31st. Otherwise, bids are due by July 31st Noon PT. Prospective bidders must complete due diligence and submit non-contingent bids for the portfolio pursuant to the timeline set forth below. The Portfolio is being offered on a servicing-released basis.

A U C T I O N D A T E : J U LY 3 1 S T 2 0 2 0 | N O O N P T

S A L E T I M E L I N E6/1/2020 Commencement of Due Diligence6/1/2020 Pre Auction offer being accepted anytime7/28/2020 Pre Auction offer and closing deadline 7/31/2020 Auction Day: Seal Bids Due

H O W T O R E G I S T E R A N D B I D• IN ORDER TO BID, YOU MUST SUBMIT YOUR REGISTRATION DEPOSIT AND PROOF OF FUNDS ON OR PRIOR TO JULY 31ST at Noon PT.

P R E - A U C T I O N O F F E R• Seller may accept offers and reserves the right to sell the Portfolio prior to July 31st, 2020 at Noon PT• Contact BraunWorldbid to learn how to bid in advance of the auction date at 866-568-6638• Bids for the Note and Fee Simple properties are being sold as a Portfolio, the Notes/Properties are not being sold separately.

R E G I S T R A T I O N• Shall include a Registration Deposit in the amount of $10,000 payable to Fidelity National Escrow Company or wired funds to BraunWorldbid (contact BraunWorldbid for wiring instructions), proof of funds to close or bank letter of credit. Bids shall be accompanied by proof of funds equal to or greater than the amount of the your bid.

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A U C T I O N D A Y B I D D I N G• This is a sealed bid auction, this will not be held in any specific place.• Submit your the Braun Worldbid purchase contact to [email protected] or a sealed envelope by FedEx or other overnight delivery service and mail to BraunWorldbid to 438 Pacific Coast Highway, Hermosa Beach, CA 90254 prior to or on July 31, 2020 Noon PT.• Purchase Contract and related information are available at braunCo.com/Worldbid/Note-Fee-Simple-Sale-of-Chicagoland-Properties/

E A R N E S T M O N E Y D E P O S I T R E q U I R E D• In total, the buyer will be required to provide ten percent (10%) of their final Contract price (which includes your $10,000 registration deposit) upon the opening of escrow, which will be wired to Fidelity Title and Escrow within 24 hours of bid acceptance.

P O R T F O L I O I N F O R M A T I O N• We suggest bidders review all information prior to Auction Day. The information related to the Note and Fee Simple Portfolio is available on our website for review and download at braunCo.com/Worldbid/Note-Fee-Simple-Sale-of-Chicagoland-Properties/ or Email [email protected] to request information.

S U C C E S S F U L B I D D E R• The Successful Bidder shall wire a Purchase Deposit of ten percent (10%) of the Successful Bid amount to the Fidelity National Escrow Company on and no later than 24 hours after being notified of winning bidder. The Registration Deposit will be applied to the Purchase Deposit.

B U Y E R ' S P R E M I U M• The buyer will pay a nine percent (9%) Buyer's Premium for the Note Portfolio and a five percent (5%) Buyer's Premium for the REO Portfolio in addition to their bid price. The Buyer's Premium is paid by the buyer to escrow and is included in the total contract price.

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DISCLAIMERS, DISCLOSURES AND CONDITIONS

1. BRAUN is the auction company in conjunction with Homesmart International, LLC Broker on behalf of the seller. Braun makes no representations or warranties on

the approved use of the property nor the value of the Notes. This memorandum is provided for the sole purpose of allowing a potential buyer to evaluate the

property. The potential buyer is urged to perform its own examination and inspection of property, and shall rely solely on such examination and investigation and

not on this brochure or any materials, statements or information contained herein or otherwise provided. Neither Braun, its members, managers officers,

employees or agents, nor any of its partners, directors, officers, employees and agents, nor seller, make any representations or warranties, whether express or

implied, by operation of law or otherwise, with respect to this memorandum, the property or any materials, statements or information contained herein or relating

thereto, or as to the accuracy or completeness of such materials, statements or information, or as to the condition of the property, quality or fitness of the property,

or assumes any responsibility with respect thereto. Such materials, statements and information have in many circumstances been obtained from outside sources

and have not been tested or verified. Projections, in particular, are based on various assumptions and subjective determinations as to which no guaranty or

assurance can be given. Without limiting the foregoing, in the event this brochure contains information relating to any “hazardous materials” in relation to the

property, such information shall in no way be construed as creating any warranties or representations, expressed or implied, by operation of law or otherwise, by

Braun, broker, sales agents or seller, as to the existence or non-existence or nature or extent of hazardous materials in, under, on or around the property. This

brochure is provided subject to errors, omissions, and terms and any other changes to the materials, statements and information contained herein or relating to

the Notes. Braun will not be responsible if the Notes is unsatisfactory to the buyer in any way. Braun suggests each buyer obtain appropriate advice from investment

professionals prior to purchasing the Notes.

2. Seller, Broker, and BRAUN make no representations or warranties as to the approved use of the Property.

3. The Notes are sold as-is with no representations as to condition or safety of the properties.

4. Prior to bidding, all perspective buyers must review the Braun Worldbid Purchase Contract and Sale Agreement and by submitting a bid agree to be bound by its terms.

5. Prior to bidding, all perspective buyers must review all documents provided by the seller and located at BraunWorldbid.com and in the seller's data room.

6. Bidders are responsible for conducting their own due diligence. BRAUN advises all bidders do their own due diligence in regards to assessing value of the Notes

and the condition of the Property.

7. The Seller will confirm sale to the highest bidder as long as all sale terms have been met.

8. Bidders may not disclose their bid amount to any other bidder or potential bidder.

m a r k e t i n g m e m o r a n d u m worldbid auction€¦ · • 7719 s lowe, chicago, il note...

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