Classic Auction - Industrial

Non-performing Note secured by an industrial building in Champaign, IL

Champaign, IL

  • Asset Type
  • Note
  • Property Type
  • Industrial
  • Land Area
  • 30.00 Acres
  • Year Built
  • 1996
  • Number of Floors
  • 1
  • Number of Buildings
  • 1
  • Parking Count
  • 156
  • Occupancy
  • 100.00%
  • Industrial Type
  • Warehouse
  • Property Size
  • 182,084 Sq Ft
  • Ceiling Height
  • 32 Ft

Non-performing Note secured by an industrial building in Champaign, IL

RealINSIGHT Marketplace and Mission Capital Advisors are pleased to offer the opportunity to acquire a $8,854,000 non-performing (maturity default) loan secured by a first-lien mortgage on a 182,084 sf industrial property located in Champaign, IL.


The loan was originated on February 23, 2006 in the amount of $8,854,000 for a 10- year term maturing on March 11, 2016. The loan required monthly interest only payments based on a fixed 5.71% rate, with monthly payments equal to $42,130 per month for a 120-month term with a balloon payment at maturity.  Foreclosure proceedings have commenced and a receiver was appointed in March 2017.


The single-tenant, industrial property was constructed in 1996 and contains 182,084 sf of rentable area on 30.00 acres with 156 parking spaces.  The property is 100% occupied via NNN lease through November 2020, with four 5-year extension options.  The tenant, which is a publicly traded company on the NYSE has a Moody’s credit rating of A3 and S&P rating of A.  They have occupied the space since construction in 1996.  The property is conveniently located in close proximity to I-57 and I-74. 

Scott Bowers
Auction Consultants, Inc.
License #040000273

Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

Platform Fee

Platform fee for this transaction is 5.00% or a minimum of $25,000.

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