COMMERCIAL REAL ESTATE AUCTION

HISTORIC NEW ALBANY BUILDING

ON-LINE ONLY AUCTION

BEGINS OCT. 8 & ENDS OCT. 15  4 PM!

 

Click Here To Register & Bid Now!

 

Click here for additonal information & photos

Click here for Business First Newspaper Article

Additional historical information & interior photos

 

203 EAST MAIN STREET (THE PARTHENON)

 

Address: 203 E. Main St, New Albany, IN

Description: The First State Bank Building was built in 1837, and is one of the most historic buildings in New Albany and listed on the National Register of Historical Places. This Greek Revival style two-story stone (built with local limestone) building includes four massive columns along main street, 5500 sq. ft of commercial space, two handicap accessible floors, 12 ft ceiling on first floor, a 25 ft tall skylight rotunda on the second floor, the original bank vault & fire place, and a “turn-key” interior! Lot dimensions are 56’x95’. Ready to move into, the work is already done, this is a MUST SEE! Endless opportunities for variety of businesses or private residences. Directly across from New Albany Horizons, LLC $45 million dollar downtown revitalization project and new YMCA!

Recent Renovations: Includes new roof, decking, galvanized gutters & downspouts, window updating, HVAC, upgraded electrical, new elevator, structural reinforcement, asbestos removal, and commercially rated fire exits. See attachment for complete details!

Utilities: City sewer & water, gas forced air furnace, central air.

Zoned: C-2

Liquor License: Includes Riverfront Redevelopment three-way liquor license

Taxes: $2440 (annual)

History: Built in 1837, and used as bank until 1890’s. Then used as a church and home to the Knights of Pythias. American Red Cross occupied building from 1941 through 1982.

 

 

REAL ESTATE TERMS & CONDITIONS:

DOWN PAYMENT: Ten percent (10%) per tract (non-refundable) down payment due day of auction, with balance due within 30 days at closing.  The down payment may be made in the form of cash, cashier’s check, personal check, or corporate check. Your bidding is not conditional upon financing.

ACCEPTANCE OF BID PRICES:  The seller reserves the right to accept or reject the final bid. The successful bidder will be required to enter into a purchase agreement at the auction site immediately following the close of the auction.

ABSENTEE BIDDING: Confidential absentee buyer registration is available upon prior arrangements with Auction Company.

CLOSING: The balance of the purchase price is due at closing, which will take place within 30 days of auction.

DEED: The Seller(s) will provide a General Warranty Deed at closing.

POSSESSION: Possession at closing.

GAS/MINERAL RIGHTS: All mineral rights owned by the Seller(s) will be conveyed to the Purchaser(s).

ACREAGE: All tract acreages, dimensions and proposed boundaries have been estimated based on current legal descriptions.

EASEMENTS: The sale of this property is subject to any and all easements or record.

REAL ESTATE TAXES: Taxes will prorated to day of closing.

DISCLAIMER & ABSENCE WARRANTIES: All information contained in this article and all related materials are subject to the terms and conditions outlined in the Purchase Agreement. The property is being sold as an AS IS, WHERE IS basis, and no warranty or representation either expressed or implied, concerning the property is made by the seller or the auction company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the seller or the auction company. Conduct of the auction and increments of biddings are at the direction and discretion of the auctioneer. The seller and selling agents reserve the right to preclude any person if there are any questions as to the person’s credentials, fitness, etc. All decisions of the auctioneer are final. All announcements made day of auction take precedence over previously printed or stated information.