Public Real Estate Auction
Sale of Real Estate – Prairie Crossings
Residential Lots 1-7
Wednesday, June 21, 2023 at 5:30 p.m.
East Chicago Police Department
2301 E. Columbus Drive
East Chicago, IN
Notice is given that the City of East Chicago Redevelopment Commission (ECRC) by the East Chicago Department of Redevelopment (ECDR) will offer at Public Auction certain parcels of real estate more particularly described as Prairie Crossings Subdivision Lots 1 thru 7 and depicted and /or described on Exhibit “A” (the “Residential Parcels”) on June 21, 2023 at 5:30 pm. The auction will be held at the East Chicago Police Department, 2301 E. Columbus Drive, East Chicago, IN 46312. The Residential Parcels will be offered individually. No participant or affiliated person or business entity may purchase more than two (2) Residential Parcels.
To be eligible to participate in the Public Auction, participants MUST REGISTER BEFORE THE AUCTION. Registration is available at City Hall 4525 Indianapolis Blvd., East Chicago, Indiana at the Redevelopment Department Office. YOU MUST REGISTER on or before 4:00 p.m. local time, Monday, June 19, 2023 (“the Registration Deadline”) to be eligible to bid at the auction. The registration forms will be available at the Department of Redevelopment located at City Hall 4525 Indianapolis Blvd East Chicago, Indiana. The registration form must be filled out completely and signed. Each person or entity registering must affirm that they are ready, willing, and able to participate in the auction, and sign an offer sheet which represents and affirms the registrant’s written offer of the minimum price for each parcel being offered at the auction on those parcels the registrant chooses to participate in at the auction.
The auction will begin promptly at 5:30 p.m. central time on Wednesday, June 21, 2023 at the East Chicago Police Department located at 2301 E. Columbus Drive, East Chicago, IN 46312. Lots will be sold via public auction in sequential order beginning with Lot 1 and ending with Lot 7. Each lot shall be sold to the highest offer received.
The Public Auction and Offering of the Residential Parcels is made on the conditions set forth below:
Requirements: Purchasers will be required to build a single-family residential structure with a minimum square footage of 1,500 for a ranch and 2,500 for a two story structure with an attached garage and in compliance with the recorded Covenants, which are available for review at East Chicago Department of Redevelopment.
The highest offer/bidder on each Lot shall enter into a Purchase Agreement with the ECDR within twenty-one (21) days of the Auction. Failure to execute a Purchase Agreement may void the sale, and under those circumstances, ECRC reserves the right to offer the parcel for sale on terms and conditions determined by the ECRC.
Full renderings and plans of the house shall be provided by Purchaser, and approved by the city planning department, building department, technical review committee and any other required department within twelve (12) months of the entering into the Purchase Agreement. Construction of the new single-family residential structure shall begin within eighteen (18) months of the entering into of the Purchase Agreement.
AS IS All Residential Parcels are being sold AS IS.
Title Insurance: ECDR shall provide insurable title to the Buyer at the time of closing.
Closing Date: The Transfer of title (deed) and closing will not occur until the plans are approved by the appropriate city departments and construction is ready to commence. Failure to comply with the Purchase Agreement requirements will result in forfeiture of the earnest money deposit and the re-offering of the lot on terms and conditions determined by the ECRC.
Minimum Offer: The minimum bid for each parcel shall be as follows:
Lot 1 $20,000 Parcel Number: 45-03-27-183-022.000-024
Lot 2 $20,000 Parcel Number: 45-03-27-183-023.000-024
Lot 3 $20,850 Parcel Number: 45-03-27-183-024.000-024
Lot 4 $20,000 Parcel Number: 45-03-27-183-025.000-024
Lot 5 $23,100 Parcel Number: 45-03-27-183-026.000-024
Lot 6 $20,000 Parcel Number: 45-03-27-183-027.000-024
Lot 7 $20,000 Parcel Number: 45-03-27-183-028.000-024
Payments: Earnest money in the amount of $10,000 will be due and payable at the Public Auction. Earnest money payments shall be made payable to the East Chicago Department of Redevelopment and must be paid by cashier’s check or money order.
The balance of the highest/winning offer shall be paid at closing.
ECDR has caused to be prepared the exhibit listed below (the “Exhibit”), and ECDR will make this Notice
and Exhibit “A” available at the East Chicago Department of Redevelopment for examination and use by
all interested persons.
Exhibit A Plat of the Residential Parcels and Parcel Numbers with Minimum Offers
You are encouraged to visit the Residential Parcels as the property is open to the public. Any questions
regarding the Residential parcels can be directed to Redevelopment Executive Director Frank Rivera
4525 Indianapolis Blvd East Chicago, Indiana 46312, (219) 391-8513. Additional information may also be obtained after Monday, May 22, 2023.
ECDR reserves the right to cancel the auction and to determine the terms and requirements of sale of
the Residential Lots in its sole discretion.