5298 Bennett Street, Loves Park, IL 61111

5298 Bennett Street, Loves Park, IL 61111

Nestled in the charming City of Loves Park, Illinois, this two-story brick home exudes classic appeal and modern comfort. Featuring three bedrooms and 1.5 baths, this residence offers ample living space with a total of 1,969 square feet. A standout feature is the expansive four-car detached garage, perfect for car enthusiasts or those needing extra workspace. The property is situated on a nicely landscaped 0.48-acre lot, adorned with mature trees and partially fenced for added privacy. Key updates include a new roof (2012), gutters (2017), siding and windows (2019), and a state-of-the-art HVAC system with a warranty through 2027. The home is equipped with essential appliances, including a stove, refrigerator, washer, and dryer. Located in a serene neighborhood close to dining, parks, and country clubs, this home offers both convenience and tranquility. With a guaranteed clear title at closing, this property is a fantastic opportunity with a minimum opening bid/reserve price of $119,000.
  •   May 29 @ 11:55pm CDT (Start)
  •   Jul 2 @ 7:07pm CDT (End)
  •   Add to Calendar
Tuesday, July 2, 2024 - Opening Bid/Reserve Price of $119,000

ONLINE REAL ESTATE AUCTION
5298 Bennett St, Loves Park, IL 61111

PREVIEWS (OPEN HOUSES):
Sunday, June 23, 2024, from 1:00 PM – 2:00 PM
Saturday, June 29, 2024, from 1:00 PM – 2:00 PM

AUCTION END DATE:

Tuesday, July 2, 2024
(the auction starts to close at 7:07 PM)

AERIAL DRONE FOOTAGE:
https://youtu.be/DA14Q0wvLPk

3D VIRTUAL TOUR: https://my.matterport.com/show/?m=gZ92PxabCjf&

FLOOR PLANS WITH ROOM MEASUREMENTS: See Floor Plans PDF in Documents or View Floor Plans in Photos.

PROPERTY HIGHLIGHTS:
*Two story brick home
*3 bedroom / 1.5 bath
*4 car detached garage with plenty of workspace
*Nicely landscaped yard with mature trees and partially fenced
*
Appliances include: stove, refrigerator, washer, and dryer
*Hardwood floors throughout the house with the exception of the kitchen and bathrooms
*Updates per the seller include:
- New roof in 2012
- New gutters on the house and garage in 2017
- New siding and windows in 2019
- New HVAC system with warranty through 2027 with Perfect Temp Company
- Converted to Loves Park city water in 2020

*Unfinished lower level (contains fuel tank no longer in use)
*Forced air heat
*Central air conditioning
*Total acreage – 0.48 acres
*Year built - 1962
*Total square footage – 1,969 sq ft (main level is 749 sq ft, upper level is 551 sq ft, and the lower level is 669 sq ft)
*Located in the City of Loves Park in Winnebago County, Illinois
*Close to dining, Loves Park Elementary School, Shorewood Park, Martin Park (and the Rock River boat ramp), Rockford Country Club, and Forest Hills Country Club
*City sewer and water

*Zoning – R1 – Single Family Residence
*Parcel number in Winnebago County, IL – 11-12-252-032
*2023 taxes - $1,387

*Title is guaranteed free and clear at closing (with taxes and utilities paid up to the closing date)
*$119,000 minimum opening bid

BELOIT AUCTION & REALTY, INC.
608.364.1965

David Allen, CAI, AARE, AMM, BAS, CAS, CES, GPPA
Mobile: (608) 333-4586
Registered Wisconsin Auctioneer #2580 - IL #441.00296

WI Real Estate License #55947-090 - IL #471.020014

Richard Ranft, CAI, AARE, AMM, GPPA
Mobile: (608) 751-2184
Registered Wisconsin Auctioneer #237 - IL #441.001071
WI Real Estate License #51214-090 - IL #478.00010


ADDENDUM A - TERMS & CONDITIONS AGREEMENT FOR REAL ESTATE AUCTION

  1. This is an ONLINE public real estate auction…it is NOT a foreclosure auction. This property is being sold to settle an estate.  Title to the property is guaranteed to be free and clear from all liens and encumbrances with all property taxes paid up until closing. Bidder agrees to all terms and conditions of the auction set forth prior to bidding on the auction. These terms and conditions are made part of the offer to purchase. All bidders are required to register online prior to the beginning of the online auction if they intend to bid. Each bidder is assigned a unique bidder number. In consideration of being allowed to participate in this auction, bidder agrees that all bids he or she submits are irrevocable and binding.
  2. Disclaimer & Absence of Warranties: All properties are sold “AS IS, WHERE IS’ with no financing, inspection, appraisal, zoning, or other contingencies to sale. 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 any brochure or marketing 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. Potential buyers can arrange for their own property inspection by a licensed inspector at least 72 hours prior to the auction date at their own expense.
  3. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Auctioneer cannot, and will not be, held responsible for any interruption in service, errors, and/or omissions, caused by any means and does not guarantee continual, uninterrupted or error free service or use of the Site. Bidder acknowledges that this auction is conducted electronically and relies on hardware and software that may malfunction without warning. The Auctioneer, in their sole discretion, may void any sale, temporarily suspend bidding and re-sell any lot/property that was affected by any malfunction. All decisions of the Auction Company/Auctioneer are final.
  4. This is a Buyer’s Fee Auction. A buyer’s fee of 10% plus the high bid shall equal the total purchase price. This Auction has a minimum opening bid/reserve price of $119,000. The successful bidder must make a $6,000 down payment of earnest money (non-refundable) by 11:00 a.m. on Wednesday, July 3, 2024. Payment may be made with cash or certified funds. Successful bidder will be required to sign a standard offer to purchase agreement. Earnest money deposit is non-refundable if the offer is accepted by the seller and will be applied to the purchase price at the time of closing. Buyer agrees to close with the balance of the purchase price due and payable at closing on or before Friday, August 2, 2024 (certified funds).  An additional extension to this closing deadline until Friday, August 9, 2024, can be made with an additional payment of $2,000 earnest money (non-refundable) and an additional payment of $2,000 to the purchase price. Closing will be conducted by Title Underwriters in Winnebago County, IL.
  5. Changes, corrections, and new additions: please check our website and the auction you are interested in prior to the scheduled auction time to inspect any changes, corrections, or additions to the property photos and information.
  6. Seller to provide title insurance and pay all taxes to date of closing. Buyer acknowledges that buyer is responsible for all other closing costs pertaining to the buyer’s side of the closing statement, these costs may include, but are not limited to the balance of the sale, attorney fees, deed preparation, deed recording, survey (if required), mortgage fees, or any other fees or expenses required on their side to close the transaction.
  7. Agency: Beloit Auction & Realty Inc. represents the Seller(s) only and does not inspect properties on bidder’s behalf. Potential buyers must conduct their own due diligence and investigation of each property and must also investigate the suitability of each parcel prior to making a bid and purchase at the auction.
  8. Non-Reliance Provision: The parties hereto, in executing this agreement, do not rely on any inducements, promises or representations other than such as are expressly contained in this agreement.
  9. Buyer Agency Agreement: All bidders are responsible to notify auctioneers of any potential buyer agency agreement(s) in place before registration and bidding on the auction at least 72 hours prior to the start time of the auction.
  10. If a bidder chooses to use a real estate broker/agent, a cooperating firm commission is contingent upon, and will ONLY be paid to the broker/agent if the broker/agent attended the first property showing their bidder/buyer attended and handed their business card with their client's name written on it to one of the Beloit Auction representatives present at the open house, the online "Broker/Agent Co-Broke Participation Acknowledgment Form" is received by the auction company at least 72 hours prior to the start time of the auction, and if the real estate broker/agent's bidder/buyer has placed at least one bid 72 hours prior to the start time of the auction, no exceptions.  Real estate broker/agent shall not be entitled to said commission on account of any sale to an entity of which (or any affiliate of which) the real estate broker/agent is a principal, employee, affiliate, or immediate family member.
  11. If a bidder is the winning Buyer and refuses or fails to complete the transaction for ANY reason (including, but not limited to, remitting the total purchase amount), Buyer shall relinquish ANY right to complete the transaction and shall have no rights or interest in the property, as well as forfeit all deposit monies as liquidated damages to Seller. PLEASE BE ADVISED: Various state statutes give Seller the right to pursue legal action against bidders who refuse to complete transactions. This may include (but is not limited to) suit to compel completion of the sale, and/or criminal charges of fraud or other intentional act. Any dispute between the Auction Company/Auctioneer and bidders or buyers will be dealt with through arbitration in Rock County, WI.  Beloit Auction & Realty, Inc. will be entitled to the value of its time, costs, and attorney’s fees incurred as damages.

ADDENDUM A - TERMS & CONDITIONS AGREEMENT FOR REAL ESTATE AUCTION

  1. This is an ONLINE public real estate auction…it is NOT a foreclosure auction. This property is being sold to settle an estate.  Title to the property is guaranteed to be free and clear from all liens and encumbrances with all property taxes paid up until closing. Bidder agrees to all terms and conditions of the auction set forth prior to bidding on the auction. These terms and conditions are made part of the offer to purchase. All bidders are required to register online prior to the beginning of the online auction if they intend to bid. Each bidder is assigned a unique bidder number. In consideration of being allowed to participate in this auction, bidder agrees that all bids he or she submits are irrevocable and binding.
  2. Disclaimer & Absence of Warranties: All properties are sold “AS IS, WHERE IS’ with no financing, inspection, appraisal, zoning, or other contingencies to sale. 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 any brochure or marketing 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. Potential buyers can arrange for their own property inspection by a licensed inspector at least 72 hours prior to the auction date at their own expense.
  3. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Auctioneer cannot, and will not be, held responsible for any interruption in service, errors, and/or omissions, caused by any means and does not guarantee continual, uninterrupted or error free service or use of the Site. Bidder acknowledges that this auction is conducted electronically and relies on hardware and software that may malfunction without warning. The Auctioneer, in their sole discretion, may void any sale, temporarily suspend bidding and re-sell any lot/property that was affected by any malfunction. All decisions of the Auction Company/Auctioneer are final.
  4. This is a Buyer’s Fee Auction. A buyer’s fee of 10% plus the high bid shall equal the total purchase price. This Auction has a minimum opening bid/reserve price of $119,000. The successful bidder must make a $6,000 down payment of earnest money (non-refundable) by 11:00 a.m. on Wednesday, July 3, 202 Payment may be made with cash or certified funds. Successful bidder will be required to sign a standard offer to purchase agreement. Earnest money deposit is non-refundable if the offer is accepted by the seller and will be applied to the purchase price at the time of closing. Buyer agrees to close with the balance of the purchase price due and payable at closing on or before Friday, August 2, 2024 (certified funds).  An additional extension to this closing deadline until Friday, August 9, 2024, can be made with an additional payment of $2,000 earnest money (non-refundable) and an additional payment of $2,000 to the purchase price. Closing will be conducted by Title Underwriters in Winnebago County, IL.
  5. Changes, corrections, and new additions: please check our website and the auction you are interested in prior to the scheduled auction time to inspect any changes, corrections, or additions to the property photos and information.
  6. Seller to provide title insurance and pay all taxes to date of closing. Buyer acknowledges that buyer is responsible for all other closing costs pertaining to the buyer’s side of the closing statement, these costs may include, but are not limited to the balance of the sale, attorney fees, deed preparation, deed recording, survey (if required), mortgage fees, or any other fees or expenses required on their side to close the transaction.
  7. Agency: Beloit Auction & Realty Inc. represents the Seller(s) only and does not inspect properties on bidder’s behalf. Potential buyers must conduct their own due diligence and investigation of each property and must also investigate the suitability of each parcel prior to making a bid and purchase at the auction.
  8. Non-Reliance Provision: The parties hereto, in executing this agreement, do not rely on any inducements, promises or representations other than such as are expressly contained in this agreement.
  9. Buyer Agency Agreement: All bidders are responsible to notify auctioneers of any potential buyer agency agreement(s) in place before registration and bidding on the auction at least 72 hours prior to the start time of the auction.
  10. If a bidder chooses to use a real estate broker/agent, a cooperating firm commission is contingent upon, and will ONLY be paid to the broker/agent if the broker/agent attended the first property showing their bidder/buyer attended and handed their business card with their client's name written on it to one of the Beloit Auction representatives present at the open house, the online "Broker/Agent Co-Broke Participation Acknowledgment Form" is received by the auction company at least 72 hours prior to the start time of the auction, and if the real estate broker/agent's bidder/buyer has placed at least one bid 72 hours prior to the start time of the auction, no exceptions.  Real estate broker/agent shall not be entitled to said commission on account of any sale to an entity of which (or any affiliate of which) the real estate broker/agent is a principal, employee, affiliate, or immediate family member.
  11. If a bidder is the winning Buyer and refuses or fails to complete the transaction for ANY reason (including, but not limited to, remitting the total purchase amount), Buyer shall relinquish ANY right to complete the transaction and shall have no rights or interest in the property, as well as forfeit all deposit monies as liquidated damages to Seller. PLEASE BE ADVISED: Various state statutes give Seller the right to pursue legal action against bidders who refuse to complete transactions. This may include (but is not limited to) suit to compel completion of the sale, and/or criminal charges of fraud or other intentional act. Any dispute between the Auction Company/Auctioneer and bidders or buyers will be dealt with through arbitration in Rock County, WI.  Beloit Auction & Realty, Inc. will be entitled to the value of its time, costs, and attorney’s fees incurred as damages.