REAL ESTATE AUCTION
Wednesday, February 20th @ 1:00pm
118 Lake Breeze Circle, Marblehead, Ohio 43440
Live bidding onsite at @
The Lighthouse Resort
614 East Main Street, Marblehead, Ohio 43440
(which is also selling in this auction event)
TRACT 1: The Lighthouse Resort is a 68 Room Waterfront Hotel in the quaint Village of Marblehead, the peninsula separating Sandusky Bay & Lake Erie. The property offers a turn-key opportunity with a mix of rooms including a third-floor Executive Suite, Jacuzzi Suites, Handicap Accessible Rooms, Kitchenette Rooms, Commercial Kitchen, Laundry, Buffet Room, Heated Outdoor Pool, Fitness Room, Children’s Play Area, Waterfront Patio, Lobby, Private Office and an Ice-Cream Bar that could be converted back to a Liquor Bar with proper licensing. All furniture, fixtures and equipment are included in the sale. Subject is Deeded Waterfront Ottawa County Parcel #0150221902405001. (See separate listing on this website for photos of Tract 1).
Opening Bid $1,700,000 ~ Buy Now Price: $2,500,000
TRACT 2: 118 Lake Breeze Circle, Marblehead, Ohio 43440 is a 2 Bedroom 1.5 Bath home on an 80’x125’ platted lot. This home is beautifully appointed and abuts the parcel containing the Swing Tract with the Event Center which could be converted to a large garage, storage facility or whatever you can imagine. This subject is Ottawa County Parcel #0150221902830000.
Opening Bid $130,000 ~
COMBINATION 1: Includes Tract 1, plus the parcel directly behind with a fully-equipped Event Center that can facilitate weddings, corporate meetings and other gatherings for 100+ guests. All tables, chairs and equipment is included. Contracted events for 2019 will transfer. Includes Ottawa County Parcels 0150221902405001 and 0150221902405002.
Opening Bid $1,900,000 ~ Buy Now Price $2,650,000
COMBINATION 2: Includes Tract 2 plus the contiguous parcel with the fully-equipped Event Center described above. This combination offers a homeowner an extra parcel whereby the existing Event Center building could be converted to a garage/boat storage opportunity. Includes Ottawa County Parcels 0150221902830000 & 0150221902405002.
Opening Bid $200,000 ~
COMBINATION 3: Includes Tracts 1 & 2 plus Event Center: Ottawa County Parcels 0150221902405001, 5002 and 0150221902830000.
Opening Bid $2,000,000 ~ Buy Now Price $2,800,000
BUY NOW TERMS: All Buy-Now Sales shall be subject to all terms of auction as listed below. Pre-auction contract must be completed with required deposit in place no less than 48 hours prior to auction time. If bid level reaches 80% of buy now price(s), buy now option will be removed. Buy-Now option is void as of 48 hours prior to auction time.
DEPOSIT AND CLOSING: $10,000 required to register for bidding. Online bidders must wire registration deposit to Auction Firm Trust account. Onsite bidders must bring cashier’s check made to Ohio Real Estate Auctions to register on auction day. Successful bidder(s) will be required to increase deposit to 10% of total purchase price within 24 hours of auction end. Close on or before March 22, 2019 through M & M Title Company.
ONLINE BIDDING NOTES:
Bid Increment: online bidding increment for this auction is $500.
Max Bid: When you place a bid, you can place a "Max Bid" and the automated bidding software will bid for you in $500 increments up to your maximum. You will be notified by email if your maximum is out-bid by another bidder.
Live Simulcast Bidding: On auction day, Wednesday, February 20, 2019, Pre-Bidding will be closed at 12:45pm. We will then open the Live-Simulcast Bidding platform at 12:50pm. If you are on the Pre-Bidding page, you will need to log out and log back in to participate in the live Simulcasrt Bidding.
Tim Lile, CAI – Auctioneer
Bid NOW @ www.OhioRealEstateAuctions.com
Disclaimer: Information contained herein was obtained from sources deemed reliable. However, neither Ohio Real Estate Auctions, LLC, Auctioneers, nor their agents will be responsible for any errors or omissions regarding information provided by same. Announcements made at the auction will take precedence over written material or any other statements made prior to the auction. Buyers should carefully verify all information and make their own decision as to the accuracy thereof before relying on same.
Annual Taxes: $ See Auditor Information
Property sells As-Is with no contingencies for financing, inspections or otherwise. All desired inspections must be completed prior to auction. 10% Buyer's Premium will be added to winning bid(s) to establish final contract selling price(s). Short tax proration. Buyer(s) pays all closing costs.
Deposit and Closing:
$10,000 Deposit required to register for bidding. Online bidders must wire registration deposit to Auction Firm Trust account. Onsite bidders must bring cashier’s check made to Ohio Real Estate Auctions to register on auction day. Successful bidder(s) will be required to increase deposit to 10% of total purchase price within 24 hours of auction end. Close on or before March 22, 2019 through M & M Title Company.