Heartland Park Redevelopment Project Auction

Wednesday, July 17, 2024

United Country | Heritage Brokers & Auctioneers
Online Auction Bidders AgreementTHIS IS A LEGALLY BINDING DOCUMENT. IF YOU DO NOT UNDERSTAND THE TERMS AND CONDITIONS AS SET FORTH HEREIN, PLEASE CONSULT AN ATTORNEY PRIOR TO SIGNING.I ________________________________ (Buyer) agree to immediately enter into the Real Estate Auction Purchase Contract approved by Seller, if I am declared the high bidder (winning bidder) by the auctioneer during the following auction:The property currently known as the Heartland Motorsports Park - consisting of (29) county parcels, and being offered in (20 Tracts)Legally described as: A 621.65+/- acre tract of land located in a special district of the City of Topeka, Shawnee County, Kansas, to be offered in (20 Tracts) as outlined below. The full and complete legal description for each tract shall be provided by the title company. Online Bidding Opens on Wednesday, June 5th, 2024 at 6:00 pm (CT)Online Bidding begins to Close on Wednesday, July 17th, 2024 at 6:00 pm (CT)By signing below, I agree that I have read and fully understand the Online Auction Bidders Agreement and the Terms and Conditions for this auction.I understand and agree that an Online Auction Bidders Agreement MUST be signed and returned to United Country| Heritage Brokers & Auctioneers, prior to being allowed to bid in the Online Auction. As a bidder, it is solely my responsibility to contact the auction company at (877) 318-0438 with any questions regarding the auction, purchase agreement, or terms & conditions, prior to placing any bids in said auction. Online Auction Terms & Conditions1. No Reserve Auction: (Tracts 1-12 and 23-29) are being offered with no reserve price or minimum bid, and shall be sold to the highest bidder.Seller Confirmation Auction: (Tracts 13-22) shall be sold combined as one tract, and with all bids being subject to the Seller?s approval.2. Bidding Registration: Online bidder hereby agrees that they must be properly registered for the online auction by completing and signing the (Online Auction Bidders Agreement), which will be sent by email via DocuSign. Upon completing this registration form and receiving approval, bidding privileges will be turned on. If you need assistance with registration, you may contact Lucinda Terrel at (816) 420-6257 or by email at [email protected]. Seller(s) may at their sole discretion request additional registration requirements from any bidder unknown to them or the auction company.3. Bidding Opens/Closes: The Online Only Auction (i.e. Internet Auction) bidding shall be opened and begin closing on the dates and times stated above, subject to the soft close feature as outlined below. 4. Property Preview Dates: It is highly recommended that all bidders personally inspect the property prior to placing any bids in the auction. Property inspections are the sole responsibility of the bidders and can be conducted during the advertised Property Preview dates. The property may also be inspected by scheduling an appointment with the Auction company at (877) 318-0438. Property Preview Dates:Wednesday, June 26th @ 1:00PMWednesday, July 10th @ 1:00PM5. Buyer?s Premium: A Five Percent (5%) Buyer?s Premium shall be added to the final bid price place online, which will determine the Total Contract Sales Price. Bidders hereby understand that the Buyer?s Premium shall be added to the winning bid to create the Total Contract Sales Price for which they are obligated to pay for the property. Example: (winning online bid $100,000 + 5% buyer?s premium = total purchase price of $105,000).6. Cash Offer/No Financing Contingency: By participating in this auction, bidder hereby agrees that their bid shall NOT be subject to the bidder?s ability to obtain financing. By placing a bid in this auction, bidders are making a ?cash offer? to purchase the property. Financing is NOT a contingency in the purchase agreement. All purchases are in U.S Funds only.7. Purchase Contract: Winning bidder hereby agrees to enter into the Real Estate Auction Purchase Contract in its current form and which has been approved by the Seller, immediately upon being declared the Successful Bidder by the Auctioneer. Upon the close of the auction the winning bidder will be forwarded via email an Auction Real Estate Sales Contract to purchase the property. A signed copy of the Auction Real Estate Sales Contract must be executed and received by United Country | Heritage Brokers & Auctioneers no later than 24 hours from the time said Sales Contract was sent to the winning bidder. The Auction Real Estate Sales Contract may be e-signed, hand delivered or scanned and emailed. A sample Auction Real Estate Sales Contract is available for review online prior to placing any bids in the auction. 8. Down Payment: A Ten Percent (10%) non-refundable down payment based on the total contract purchase price (which includes the buyer?s premium) will be wire transferred or hand delivered in the form of certified funds to the Title Company no later than 48 hours following the close of auction. See closing agents contact information below. The balance of the purchase price will be due in full at closing.9. Closing: Closing shall be on or by Friday, August 16th, 2024. Closing shall take place at Lawyers Title of Kansas, 5715 SW 51st St. Topeka, KS 66604 Closer is Kyle Mead, email is [email protected], phone number is (785) 271-9500. Out of state buyers will be afforded the opportunity to close via email, mail and wire transfer of certified funds.10. Easements: The sale of the property is subject to any and all easements of record. There are easements outlined in the title insurance commitment and are available as a public record. (Private Sewer System Easement) The property contains a private sewer system tied to the lagoons on Tract 7, which affects multiple tracts as outlined in the ?City of Topeka Utilities? map provided in the Property Information Packet. Buyers further understand and agree to the recording of an Easement for said private sewer lines, sewer system and lagoons on any tracts requiring said easement. 11. Minerals: The seller?s share of minerals (if any) will transfer with the surface at closing. 12. Survey: All tracts are legally described, so No survey is required to transfer title to the property and the Seller shall not provide any additional survey. If the Buyer desires a survey, it shall be at the Buyer?s sole expense and shall not be a contingency or requirement in the purchase contract. 13. Possession: Possession of the property will be given upon payment in full of the purchase price and transfer of title at closing.14. Title Insurance: Title Insurance in the full amount of the purchase price will be provided by the seller. Seller shall execute a general warranty deed conveying the property to the buyer(s).15. Taxes: Seller acknowledges the existence of delinquent taxes and shall pay any previous years taxes upon closing. The current year?s real estate taxes shall be prorated to the date of closing.16. Personal Property (Bleachers & Digital Sign): The electronic (digital) signage located on Tract 1, and the stadium bleachers located on Tracts 13-22 are considered personal property and shall be retained by the Seller. THESE ITEMS DO NOT SELL WITH THE REAL ESTATE? The digital sign and stadium bleachers may be retained and/or sold by the Seller under a separate agreement. The Buyer hereby understands and agrees to allow Seller up to (180 days) following the closing of the real estate transaction, for the sale and removal of said digital sign and stadium bleachers.17. Online Auction Technology (Disclaimer): Under no circumstances shall Bidder have any kind of claim against United Country ? Heritage Brokers & Auctioneers, Broker of record, or anyone else, if the Internet service fails to work correctly before or during the auction. Online bidding is subject to technology faults and issues which are outside the control of the auction company. Bidder(s) are encouraged to use the ?Maximum Bid? feature on the bidding platform and lock in their maximum bid amount, if they are concerned about technology failure during the auction. The SELLER and/or Auction Company reserves the right to (pause) the online auction bidding in the event of any technology failure, to preserve the integrity of the auction event and maintain a fair and impartial bidding environment.18. Soft Close: If a bid is received within the last (6 minutes) of the auction, the auction close time will automatically extend adding (6 minutes) to the clock on all tracts, allowing other bidders an opportunity to competitively bid prior to the auction closing. This feature eliminates last second bidding "snipers" and encourages a fair and impartial bidding experience for all participants.19. Disclaimer: All information provided is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, etc. are approximate. Buyers should verify the information to their satisfaction. Information is subject to change without notice. There are no warranties either expressed or implied pertaining to this property. Real estate is being sold "As-Is, Where-Is" with NO warranties expressed or implied. Please make all inspections and have financing arranged prior to the end of bidding. The Auctioneer reserves the right to bid on behalf of the Seller up to, but not beyond the Seller?s reserve price (if applicable). The property is available for and subject to sale prior to auction. By participating in this auction, Buyers hereby acknowledge that any bid(s) placed by them is a binding agreement to purchase the property, subject to the bid being approved by Seller (if applicable).20. Pre-Auction Offers: As an agent for the Seller, the Auctioneer must present any and all bona fide written offers to the Seller, which may be created outside of the online bidding platform. Therefore, all properties are subject to pre-auction sales. Pre-auction offers should meet the auction terms and conditions, and must be submitted to the Auctioneer on the Auction Real Estate Sales Contract, along with the required earnest deposit. Properly submitted offers will be presented to the Seller in a timely manner. Seller may accept or reject such offers at their sole and absolute discretion. When a pre-auction offer is submitted, all properly registered online bidders will be notified that ?an offer? has been submitted and on which specific property (tracts), however the amount of the offer shall remain confidential. All pre-auction offers should allow a minimum of 24 hours for seller?s acceptance.
7530 SW Topeka Blvd, Topeka, KS US
HEARTLAND PARK REDEVELOPMENT PROJECT * ONLINE ONLY AUCTIONMOTORSPORTS PARK * BUILDINGS * REDEVELOPMENT LAND * COMMERCIAL & INDUSTRIAL LOTS * HIGHWAY FRONTAGEONLINE BIDDING OPENS: Wednesday, June 5th, 2024 at 6:00 PM (CST)ONLINE BIDDING CLOSES: Wednesday, July 17th 2024 at 6:00 PM (CST)REGISTER & BID ONLINE: Go to HEARTLANDPARKAUCTION.COM and register online. All bidding is conducted online only and registration can take up to 24 hours, so please register before the last day.PROPERTY LOCATION: In Shawnee County, just south of Topeka, Kansas at the corner of SW Topeka Blvd and SE Gary Ormsby Dr. The northern tracts (5-8) set north of Gary Ormsby Dr., adjacent to the airport. (watch for auction signs) LEGAL DESCRIPTION: A 621.65+/- acre tract of land located in a special district of the City of Topeka, Shawnee County, Kansas. The full legal description for each tract shall be delivered by the title company. MAP LINK: https://id.land/ranching/maps/0fa316fff1e65a3321047e43fa7c6c55/share ORDER OF AUCTION: According to Shawnee County, Kansas there is 621.65+/- acres which include (29) individual parcels (tracts). This multi-tract auction affords the buyer an opportunity to purchase a single tract or multiple tracts throughout the bidding process. See tract map for visual layout and details. TRACTS #1 - 12 (No Reserve): consists of twelve (12) individual vacant land, commercial/industrial parcels which will be offered individually. TRACTS #13 - 22 (Seller Confirmation): consists of ten (10) parcels which encompass the Heartland Motorsports Park, buildings, race track and facilities, offered combined into (1 tract). TRACTS 23 - 29 (No Reserve): consists of seven (7) individual vacant land, commercial/industrial parcels which will be offered individually. PROPERTY PREVIEW: The auction company will be onsite at the property on the following dates to answer any questions. The property can be previewed by scheduling an appointment, contact the auction company at (877) 318-0438. Property previews are encouraged prior to placing a bid in the auction. PREVIEW DATES:- WEDNESDAY, JUNE 26TH @ 1:00 PM- WEDNESDAY, JULY 10th @ 1:00 PM GENERAL DESCRIPTION: This property consists of 621 +/- acres located just south of Topeka, Kansas on SW Topeka Blvd., and only 1.2 miles east of U.S. 75 Hwy. The property known as the Heartland Motorsports Park includes 175 +/- acre racing facility that has approximately 89,000 sq/ft of buildings. There is access to municipal water, sanitary sewer, natural gas, and electricity supported by an adjacent Evergy substation. The property has sufficient frontage along Topeka Blvd and SE Gary Ormsby Dr. The property is being offered to the public by the individual county parcel, with (10) parcels being combined that comprise the Motorsports Park. This property is primed for redevelopment with several large corporations already in the immediate area such as the Walmart Distribution Center, Mars North America Candy Plan, and more. ZONING: I-1 Light Industrial and Commercial PROPERTY HIGHLIGHTS: - 621.65 Acres (29 Tracts)- 89,223 Sq/Ft (Buildings)- Highway Frontage - Water, Sewer, Electric - Close to Interstate & Rail- Development TractsSURVEY: The property (parcels) do not require a survey and will transfer with a valid legal description provided by the Title Company. POSSESSION: Possession of the property will be given upon payment in full of the purchase price and transfer of title at closing.TAXES: All delinquent or prior years taxes will be paid by the Seller. Current year (2024) taxes will be prorated to the date of closing. UTILITIES: - Sewer: 15? sanitary sewer line at the NW corner of the property. - Water: 18? active water transmission main line across NW portion of the property. - Water: 12? water distribution main along the entire north frontage along Gary Ormsby Dr.- Electric: Evergy serves multiple large distribution structures within 5-mile radius. Est. 5.4 ? 7 mw.PERSONAL PROPERTY: No personal property is being transferred with the real estate.AUCTIONEERS NOTE: This property is located in the path of development for the City of Topeka and will make an ideal location for an industrial park. Offering this 621.65 acres in individual parcels affords the buyer an ample opportunity to purchase a development tract or multiple tracts that fit their growth and investment needs. 19 of the tracts are being offered with no reserve. The property is subject to prior sale during the auction, so don?t wait. Contact the auction company with any questions and get registered to bid. SELLER: Shelby Investments LLC
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Announcement: Information contained herein is presented on behalf of the seller. United Country | Heritage Brokers & Auctioneers, agent for the seller, cannot guarantee the information to be correct or assume the liabilities for errors and omissions. All lines drawn on maps are approximate. Buyers should verify the information to their own satisfaction. Any announcements made from the auction block on day of auction will take precedence over any matter of print and will be final.