1791 Monhegan Avenue

Auction Ordered by Court Appointed Receiver; Seller reserves the right to reject any offer. This is a subdivision portfolio package including vacant single family lots, a partially completed model home on one of the lots and a partially completed foundation lot. Pre-auction offers are highly encouraged! $499,000 is the minimum bid not the asking price. A 6% buyer's premium applies: Your offer plus 6% = total purchase price. This approximately 39 acre parcel of land is fully-developed and includes 112 vacant single family home lots, 13 common-area lots, a partially completed model home on a lot, and a partially completed foundation (127 lots total) in the Nantucket Cove subdivision in Beecher, Illinois (Will County). Beecher is located approximately 41 miles and a 50-minute drive from downtown Chicago. The subdivision's development started in 2005 with 171 marketable single-family home lots. To date, approximately 55 lots have been sold and most of these lots have homes and occupants. New home values in this subdivision have averaged in the mid to high $200k range. There are some homes in the subdivision in the $300k plus range. Nantucket Cove is zoned as an R1-Planned Unit Development ("PUD"). The entire development is nearly complete with all roadways and utility infrastructure. A future bike path throughout the subdivision is the only remaining development requirement of the Village of Beecher. There are some excess dirt mounds on the property and the model home has had some water in the basement. Sold "as-is", where-is with no warranties and no guarantees. Model Home (1758 Wincasset Court)