NEW ALBANY REAL ESTATE AUCTION
HISTORIC HOME & EVENT SPACE
1886 “SAMUEL CULBERTSON MANSION”
16,000+ TOTAL SQUARE FEET
ONLINE ONLY-BIDDING ENDS MARCH 3
ADDRESS: 904 East Main Street, New Albany IN 47150
Located on Mansion Row in Historic Downtown New Albany-just 10 minutes from Downtown Louisville!
OPENING BID/APPRAISAL INFO: Real estate has an opening bid of $495,000. This property will sell to the highest bidder once the opening bid has been placed. Appraised in July 2016 by Mills, Biggs, Haire, & Reisert for $850,000.
REAL ESTATE INFO: This historic “Samuel Culbertson Mansion” is located in the Mansion Row National Historic Register District in downtown New Albany. This 4-story Queen Anne style home with Italianate style features was built in 1886 by William S. Culbertson for his son as a wedding gift. In 1896 the house was sold to Dr. John Hazlewood, then purchased by the Order of Red Men in 1939. The fraternal organization used it as a meeting facility and in 1950 had the 5396 SF recreation center built behind the existing home. The property was then purchased in 2004 by its current owners who have renovated the buildings.
MANSION INTERIOR FEATURES: Original mahogany doors throughout with mahogany staircase, original pocket doors, hardwood floors, numerous fireplaces with original mantles, awesome original built-in cast-iron cook stove (pat’d date 1856), original shutters on first floor, servant’s staircase, arched brick doorways in the lower level, all brick construction including interior walls, ground floor full bar dating to 1939.
- Ground Floor features: bar/service area (2,851 square feet)
- First Floor features: meeting/event space parlors, 2 bathrooms (3,153 square feet)
- Second Floor features: residence with full kitchen, office area, 3 bedrooms and 2 full baths (2,788 square feet)
- Third Floor features: residential space (partially improved) with 3 bedrooms (1,833 square feet)
TOTAL Approximate Square Footage of home: 10,625 square feet
MANSION EXTERIOR FEATURES: Elaborate wrought iron porches, private New Orleans style courtyard and fountain, handicap accessible ramps, off-street parking, excellent visibility from “Mansion Row,” solid brick structure.
EVENT VENUE/BANQUET HALL FEATURES: Includes a 1950’s built massive 5396 +/- SF banquet hall with a guest capacity of 250 for a seated dinner. This spacious ballroom is connected to the ground floor of the home which is comprised of bar/service areas. This building features a kitchen and restrooms. This building is very similar to Chicago’s famous Victorian style “Pizzaria Due”, and also has the character of the “Rhine House” (Berringer Winery’s signature estate in the Napa Valley.)
PARKING INFO: 45 +/- off street parking spaces
IMPROVEMENTS MADE IN LAST 3 YEARS: 2019-exterior painting of front & east facades, 2019-restoration, capping & tuck pointing of all 5 brick chimneys, 2018-new HVAC on first floor, 2018-restored bathroom on first floor, 2018-staircase boarder carpet
LIQUOR LICENSE: 210 (liquor, beer & wine retailer) license is not included with real estate, but will be available for purchase to real estate buyer.
MAJOR ITEMS INCLUDED WITH REAL ESTATE: Walk-in beer cooler, antique Bridgeford stove from Louisville KY, 10-burner Garland range, low temp dish washer, 12ft stainless steel prep table, 12ft pot hanging rack, refrigeration, freezers, bar refrigeration and 2 beer taps, apartment refrigerator and range.
MAJOR ITEMS NOT INCLUDED WITH REAL ESTATE: Antique back bar, neon Maytag sign, neon Red Men Club sign, cast elk statue in yard, ice machine, portable kegorator, service bar antique buffet, bar tables, chairs, bar stools, washer/dryer, photo booth, & antique French 8’ foyer mirror.
ZONING: This site is zoned R-3 Multi-family Residential, with a legal-nonconforming use as restaurant/bar and event center, according to the City of New Albany Planning and Zoning Office.
INSPECTION/OPEN HOUSE: By appointment only, to schedule call Beckort Auctions LLC (812) 738-9476.
POSSESSION/CLOSING INFO: Possession on May 12th. Buyer to pay all closing feel except deed prep.
HISTORY: Under the “Documents” tab, see the interesting “Excerpt from Historic Homes in New Albany.”
ADDITIONAL INFO: See “Documents” tab for: floor plan with square footage, county assessment info, tax info, preliminary title info, property aerial, and real estate disclosures.
UTILITIES: Electric - Duke; Water - Indiana-America Water; Sewer - New Albany Municipalities; Gas - Vectren
LEGAL DESCRIPTION: P.210 L.1 & W 35’ L.2 & FNT. 95’ L.3-4-5 & W 95’ OF N 8.75’ L.6
TAXES: $4,188.11/per installment
PARCEL ID: 22-05-02-801-598.000-008
DIRECTIONS: Easy access to all major roads via I-64, I-65, I-264 and I-265.
-From I-64 W, take exit 123 toward IN62 E/New Albany, continue onto W Elm Street for 500 feet, turn right onto Scribner Dr., travel 0.3 mi, then left onto E Main.
-From 65 S take I-65 S & Old Indiana 62 to E. Spring St. in New Albany travel 8.9 miles, continue on E. Spring St. to Indiana’s Historic Pathways – South/E Main St/ Ohio River Scenic Byway for 0.7 mile, then left onto E. Main.
OWNER: Third Century LLC.
PLEASE READ AND REVIEW THE TERMS THOROUGHLY PRIOR TO BIDDING.
IF YOU HAVE NOT READ AND UNDERSTAND THESE TERMS, PLEASE DO NOT BID. BY BIDDING ON THIS AUCTION, BUYER AGREES TO ALL TERMS AND CONDITIONS SET FORTH AND ENTERS INTO A CONTRACTUAL AGREEMENT TO PURCHASE THE ITEMS(S) UNDER THE FOLLOWING TERMS AND CONDITIONS:
1. Conditions of Sale: This online only auction is selling subject to owner’s confirmation and is not contingent on or subject to financing, appraisal, survey, or inspections of any kind, as agreed to by bidders at registration prior to bidding and specified in the attached Agreement to Purchase Real Estate. Buyer acknowledges they are buying property “as-is”, “where-is”, without inspections or contingencies. Buyer(s) will rely on his/her own judgment and inspection. By signing an offer, Buyer(s) will be waiving the 10-day lead based paint test.
2. Closing Info: A Buyer’s Premium of 10% is added to the high bid. Please take this into consideration when bidding. At the close of the auction, the successful Bidder will be emailed an Agreement to Purchase Contract to be executed and returned to Beckort Auctions, LLC within twenty-four (24) hours of the completion of the auction along with 10% deposit of the total contract price. The entirety of the remaining balance is due at closing on or before Thirty (30) days from Auction Day. Purchaser will be responsible for all wire transfers. Per the Contract, time is of the essence; you should proceed to closing within Thirty (30) days. Buyer(s) shall pay all costs of closing with exception of deed preparation paid by Seller. Possession shall be given to the successful Buyer(s) at closing.
3. Lead Based Paint Disclosure: Buyers of any interest in residential real property with a residential dwelling built prior to 1978 are notified that such property may present exposure to lead from lead-based paint. The Seller(s) of such property is required to provide the Buyer(s) with any information on lead-based paint hazards from risk assessments or inspections while in the Seller(s) possession and notify the Buyer(s) of any unknown lead-based paint hazards. Any inspections and assessments for the presence of lead-based paint and/or hazards by a buyer(s) must be made prior to auction; otherwise, buyer(s) waives the 10-day opportunity to conduct such risk assessment/inspection and shall acknowledge receipt of lead-based paint disclosure form.
4. Liquidated Damages: Successful Bidders not executing and returning their Contract with Earnest Money deposit within Forty Eight (48) hours of the conclusion of the auction will be considered in default. If your closing is delayed for any reason, by you, as purchaser, or other parties working on your behalf, including any lender you involve, you may be declared in breach of this contract, forfeit all deposits made and could additionally be liable for any and all costs incurred by Seller and Beckort Auctions, LLC incurred in a subsequent resale of the property. If such action occurs, Beckort Auctions LLC hereby has the right to disperse the deposit as stated in the listing agreement and the buyer has no claims to such money or property being sold. Liquidated damages are to cover cost of auction, cost incurred by seller, labor cost and additional cost of auction as not defined in this agreement. These liquidated damages do not restrict the seller from suing the buyer for performance damages and/or any additional damages the seller suffers by the default of the buyer.
5. Other Conditions: Buyer(s) must be prepared to make a cash offer. There are no contingencies to this sale (i.e., financing, appraisal, repairs, or inspections). Therefore, you should be pre-qualified by a lender prior to bidding if you require financing. This property is being sold for cash “as-is, where-is” with a closing deadline.
Beckort Auctions, LLC reserves the right to remove or cancel the bids and or bidding rights and privileges of any party at any time deemed not to be in the best interest of the seller. The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Beckort Auctions LLC will reject the registration, and bidding activity will be terminated.
All Beckort Auctions, LLC Online Only Real Estate Auctions are timed events that have an auto-extend feature. Any bid placed within 10 minutes of the auction ending will automatically extend the auction for 10 minutes from the time the bid is placed. Example: If an auction scheduled to end at 6:00 p.m. receives a bid at 5:59 p.m., the close time of the auction automatically extends to 6:10 p.m. The auto-extend feature remains active until no further bids are received within the 10 minute time frame.
6. Real Estate Brokerage Services Disclosure: Beckort Auctions LLC and their representatives are Exclusive Agents of the Seller(s). We do not represent the buyer(s) in any manner and we must be completely loyal and faithful to our client. Beckort Auctions LLC has an exclusive right to sell listing for this transaction. All negotiations must be conducted through Beckort Auctions LLC.
A two percent (2%) bid price commission, not to include any buyer’s premium if applicable, is available to properly registered Brokers/Agents. You must pre-register your Buyers with Beckort Auctions, LLC twenty-four (24) hours before the end of the auction by filling out and recording with Beckort Auctions a Broker Registration Form. Agents who fail to pre-register their Buyer will not be recognized as Buyer Agents and will not be entitled to a co-op commission. Broker/Agent cannot act as a Buyer and Broker/Agent on the same transaction. Please review the Broker Registration form for eligibility.
7. Beckort Auctions LLC Involvement in this Contract: The seller and buyer hereby agree that Beckort Auctions LLC is a part of this contract and shall receive compensation as stated in the agreement hereto or as stated in the listing agreement hereby made a part of.
8. Restrictions: Real Estate is sold subject to any and all existing matter of record, and all easements, building use or zoning laws and regulations. Taxes and assessments will be pro-rated to the closing date.
9. Additional Auction Information: All information published, announced or contained herein was derived from sources believed to be correct; however, it is not guaranteed by the seller or the auctioneers. Personal on-site inspection of all property is recommended. The failure of any bidder to inspect, or to be fully informed as to the condition of the property, will not constitute grounds for any claim or demand for adjustment or withdrawal of bid, offer or deposit money after its opening tender. This includes but is not limited to public information such as easements, restrictions, zoning, right-of-ways, or any other information that can be obtained as public record in the appropriate county court house concerning subject properties.
10. Bidder Verification: Bidding rights are provisional, and if identity verification is questionable, Beckort Auctions has the right to reject the registration, and bidding activity will be terminated. The Seller and Beckort Auctions reserve the right to preclude any person from bidding if there is any question as to the person’s credential as they are responsible for ANY and ALL activity involving their account. When using the web site you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges.
11. Technical Issues: In the event there are technical difficulties related to the server, software, internet or any other online auction-related technologies, Beckort Auctions, LLC reserves the right to extend bidding, continue the bidding or close the bidding. Neither the company providing the software, nor Beckort Auctions, LLC, shall be held responsible for the failure of the software to function properly for any reason.
YOUR BID ON THIS AUCTION INDICATES BOTH AN UNDERSTANDING AND AN ACCEPTANCE OF THE TERMS OF THIS CONTRACTUAL AGREEMENT BETWEEN YOURSELF AND BOTH THE SELLER AND BECKORT AUCTIONS AND THAT YOU, AS THE BIDDER, ARE PREPARED TO PURCHASE THE PROPERTY UNDER THE TERMS AND CONDITIONS OF THIS AUCTION.
REVISED 02/12/2019
BECKORT AUCTIONS, LLC - 117 E. CHESTNUT STREET - CORYDON, IN 47112 - 812-738-9476 - WWW.BECKORTAUCTIONS.COM