Auction Terms & Conditions Internet - Only. All Bidding Takes Place Online.

Real Estate Auction of Formaer OK Transmission, 1228 E Wood, Decatur, IL

NO Buyers Premium

Auction Terms & Conditions

This is a Virtual Online Auction, please contact Matt at 217-343-3400 with questions about online bidding. For bidders that prefer to leave a bid by phone, please contact Matt at 217-343-3400.
Bidding will close at 10:00am (property local time) on Tuesday, July 29, 2025.

Backroad Auction has been retained by OK's Transmission to assist with the sale of their former sevice shop location in Decatur, Illinois due to retirement. This property consists of All or part of 5 city lots in Decatur improved with 2 nice buildings. The property is 1 tax parcel and is sold as a single auction lot. This auction has NO BUYER PREMIUM and will sell subject to seller confirmation of the highest bid. Bidding will open at $100,000.

Seller: TEMPLETON AND KO REAL ESTATE HOLDINGS LLC
Macon County Parcel: 04-12-14-284-014
2024 Tax: $7,267.88
Brief Legal: BEMAN PLACE LT 12 13 14 BLK 12~S 81 LTS 15 & 16 BLK 12 ~ IRREG ~

Bidding is for the entire parcel with all improvements, as-is, where-is.

NO BUYER PREMIUM

Preview by drive by, or meet seller/auctioneer by scheduled appointment.

Buyer will be required to place at least 10% in escrow as a non-refundable deposit with Central Illinois Title Company, Decatur, IL, and enter into a Real Estate Purchase Contract the next business day (Wednesday, July 30, 2025). Balance due at settlement which will be held at the office of Central Illinois TItle in Decatur on or before 9/1/2025. Buyer will be provided an Owner's Title Insurance Policy by Seller. Seller will pay or credit buyer for 2025-payable 2026 property tax on a pro-rata basis.

Bidding is not subject to any contingencies, including financing, appraisal, or inspection of the property. Real estate is being sold "As-Is"

Backroad Auction is conducting this Auction in conjunction with Shelby Realty Services and Backroad Auction as an agent of the Seller, see below for brokerage information.

For bidders that prefer to leave a proxy bid directly with Auctioneer, please call 217-343-3400 to speak with Matt. We are happy to take your bids via phone if you prefer.

Online Auction Please review these terms and conditions carefully.

In order to register and receive access to the interactive online bidding platform, a Bidder must accept and acknowledge these Terms and Conditions.

1. Any bid placed shall constitute Bidder's unilateral offer to purchase the subject property. All active bids therefore constitute an offer to purchase until the Auctioneer declares the property "Sold" and the auction has concluded and Bidder has entered into Real Estate Purchase Contract following the close of the Auction.

2. Auctioneer reserves the right to reject or rescind any bidder registration or participation or any bid placed at Auctioneer's sole discretion.

3. The winning Bidder agrees to purchase the subject personal property at the price of the winning bid, and upon the terms and conditions hereinafter provided, as well as the costs of any Buyer Premiums and charges associated with disposal for non-picked up items.

4. Winning Bidder will be notified immediately following the close of the auction.

5. At said appointed date, time, and location, the winning Bidder shall pay any required escrow amounts and purchase price amounts as indicated by this Auction and the Real Estate Purchase Contract.

6. By registering and bidding, Bidder acknowledges that they have submitted themselves to the personal jurisdiction of the State of Illinois. Bidder acknowledges that any and all disputes shall be governed by Illinois Law, conflicts of laws provisions notwithstanding, and that any and all litigation associated with any purchase and sale hereunder shall be filed in the Sixth Judicial Circuit, Champaign County, Urbana, Illinois.

7. Time shall be of the essence as to all of Bidder's and Buyer's obligations.

8. The Seller, Broker, Auctioneer and their representatives, attorneys, agents, and sub-agents, assume no liability for errors or omissions in this or any other personal or real property listing or advertising or promotional/publicity statements and material. The Seller, Broker, Auctioneer and their representatives, attorneys, agents and sub-agents, make no guarantee as to the accuracy of the information herein contained or in any other personal or real property listing or advertising or promotional/publicity statements and material.

9. The Property is sold in its "AS IS" condition with all faults and limitations and no warranties expressed or implied, and Seller and Auctioneer specifically disclaim any and all implied warranties, including the warranty of fitness for a particular purpose. All Bidders are encouraged to inspect the Property prior to placing any bid and the Winning Bidder, as Buyer, acknowledges that he/she/it has had a reasonable opportunity to inspect and examine the condition of the Property and make inquiries of knowledgeable persons. All information was derived from sources believed to be correct, but is not guaranteed. Bidders shall rely entirely on their own information, judgment, and inspection of the Property and records, and in no event shall rely on any accuracy of information provided by Auctioneer or Seller.

10. By registering and bidding, the Bidder acknowledges they understand, accept and agree to these Terms and Conditions.

11. Whether a new or returning Bidder, Bidder agrees that if any of the information associated with your Bidder account, including contact information, changes at any time prior to, during, or after this sale, Bidder shall notify the Auctioneer of the change.

12. It is the desire of Auctioneer and Seller for all auction participants to get a good deal and enjoy the online auction experience. However, when you bid on the wrong item or decide an item is not suited for your intended use, neither the Seller or Backroad Auction will assume the cost of your mistakes. You agree that your failure to inspect or otherwise become fully informed about the items offered for sale in this auction will not be grounds for a refusal to pay amounts due, nor for any claim against the Seller or Auctioneer.

13. Seller and Auctioneer cannot, and will not, be held responsible for any interruption in service, errors, and/or omissions, caused by any means, therefore they cannot guarantee continual, uninterrupted or error free service of any website, system, platform, or device which could be interfered with by means out of their control. Bidder acknowledges that the online auction is conducted electronically and relies on hardware and software that may malfunction without warning.

14. Bidder should refresh browser often to view the most up-to-date bid information, and should carefully review every bid you choose to make before submitting that bid. Auctioneer will not automatically assume that any bid - even a bid that increases your own, lower bid - was made in error. Many bidders routinely increase their own bids to price an item out of the reach of other bidders. Bidder understands and agrees that you will be held responsible for having made all bids that are made using Bidder's account, even when such bids are made in error. If Bidder mistakenly increases own bid at any time during the auction, or make some other bidding error (e.g. placing your bidder number in the price field), Bidder must immediately contact the Auctioneer.

15. All aspects of this auction are subject to change without notice. Auctioneer reserves the right to - at any time and in the Auctioneer's sole and absolute discretion - add or remove items from the auction, split or combine lots, add minimum bids or reserve prices, cancel, suspend, extend, or reschedule the sale of an individual item, lot, auction, and/or auction event, make changes to the auction's closing, inspection, or removal times, reopen the bidding in its sole and absolute discretion, or take any other action the Auctioneer deems necessary to effect the fair conduct of this sale or protection of buyers', sellers', or other parties' interests. In the event a seller withdraws an item from this auction prior to the close of the auction, the Auctioneer may leave the item on the catalog and buy the item back on behalf of the seller to establish the Auctioneer's earned commission and the Buyer's Premium due to the Auctioneer from the seller.

16. Bidder understands and agree that any violation of these Terms and Conditions - and/or any unsafe or illegal activity during any auction-related event - may result in Auctioneer suspending your online bidding privileges indefinitely. Any Bidder's attempt to re-register after having been suspended - whether directly by creating a new account or indirectly by using or directing the use of a third party's account - will constitute a breach of these Terms and Conditions, and may expose the Bidder to civil and criminal liability for fraud. Auctioneer further reserves the right to refund the Bidder and eject any Bidder or agent thereof from any premises or platform if the Bidder becomes disruptive. In the event such an ejection, it will be within the Auctioneer's discretion to refund any amounts paid by the ejected Bidder. Nothing in this paragraph will limit the Auctioneer's right to any other remedies at law or in equity.

17. Bidder acknowledges receipt and copy of these Terms and Conditions, and having read and understood the provisions set forth therein, accepts same and agrees to be bound thereby.
Your bid must adhere to the bid increment schedule.


Minimum starting bid amounts may apply

Bid Amount 0.00 - 9,999,999.99 = Bid Increment 500.00 USD

Real Estate Brokerage Services provided under the Illinois Real Estate License Act. Shelby Realty Services/, 615 West Main, Shelbyville, IL 62565.

Matt Forcum, Owner/Designated Managing Broker, Designated Agent of Seller. IL Firm #481.013423
IL Managing Broker #471.020842 IL Auctioneer #441.002233 IL Auction Firm #444.000526

Broker and Auctioneer acre acting solely as agents for the Seller. No Buyer's agency expressed or implied shall be created by participation in this auction. This auction is subject to a fully executed Real Estate Purchase Contract and transaction settlement/closing by the date specified above.

Real Estate Auction for Formerly OK's Transmission, this property is perfect for a startup or growing auto service business but could be used for a variety of purposes. This property includes 2 buildings and an expansive lot on Wood St just east of Jasper St. 4,516 SqFt main building with 3,906 StFt ground level and 610 SqFt upper level. 533 SqFt office/customer space, 3,166 Sq Ft shop space with 7 Mohawk hydraulic 2 post lifts and Roto-Matic 3 phase rotary parts washer Model 777. 17' ceiling height with 7 overhead doors. The secondary building is a Morton building with a single overhead door and service entry door. Previously used for parts storage, the wood shelving and air compressor are included with the property. 5,350 AADT passenger vehicle count on Wood St. The property is situated in an Enterprise Zone and Certified Opportunity Zone - Census Tract #17115000200.