"Butcher's Hill"

 REAL ESTATE AUCTION 

$85,000 Suggested Opening Bid 

Brick Freestanding 
LOFT BUILDING 
7,650 Sq. Ft. GBA ◆ Former Church 

– REDEVELOPMENT POTENTIAL – 

Sale On Premises 
2117-2119 E. FAYETTE STREET 
Corner of N. Duncan Street 
Baltimore City, MD 21231 

THURSDAY, MARCH 8, 2018 
AT 11:00 A.M. 

NOTE: The information contained herein has been obtained from sources deemed reliable and is believed to be accurate. However, no express or implied warranty is made or may be inferred from any such representation. Dimensions, square footage and acreage contained herein are more or less. Prospective purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the permitted uses of the property.

LOCATION:
2117-2119 E. Fayette Street is located in the Butcher’s Hill neighborhood in Southeast Baltimore City. Butcher’s Hill is an historic neighborhood that adjoins Patterson Park, Fells Point and Washington Hill. Well known for large, architecturally significant homes built starting in the mid 1800s, the neighborhood has seen a significant amount of new construction and home renovations over the last several years. Johns Hopkins Hospital, which is within a few blocks, provides a major nearby employer for those residents looking to both live and work in the vibrant Southeast Baltimore area. The neighborhood also features good proximity to Downtown Baltimore, I-83 and I-95 for those working in the larger surrounding area.

Newly constructed homes are immediately west of the property. Other surrounding property uses include neighborhood services, a school, apartments, single family homes and religious buildings. The building features excellent exposure along Fayette Street. According to the State Highway Administration GIS Traffic Count Map, approximately 14,033 cars per weekday travel along this segment of Fayette Street. The building may be suitable for redevelopment for new homes, religious use, single user occupancy or multiple tenancy.

For more information about the neighborhood, please visit:
https://livebaltimore.com/neighborhoods/butchers-hill/

For more information about traffic statistics nearby, please visit:
http://www.roads.maryland.gov/index.aspx?PageId=838

SITE:
Rectangular lot – 30′ x 115’6″, more or less

Bay and former dock loading on Duncan Street

Exposure along east and westbound traffic on E. Fayette Street

All public utilities

Zoning: R-8, Residential. For more information, see the Baltimore City Zoning Code.

IMPROVEMENTS:
Three Story Brick Free-Standing Building – the building was constructed in 1920 and contains 7,650 square feet of gross building area. The building features brick construction, formstone facade and flat built-up roof. Formerly used as a church. Needs full renovation.

TITLE:
Subject to a $105 annual ground rent (due in semi-annual installments on 1/1 & 7/1); sold free and clear of all liens

TAXES:
Published annual real estate taxes are $3,269.38 based on a full value assessment of $138,533.

TERMS OF SALE:
A $7,500 deposit, payable by cashier’s check, will be required of the purchaser at time and place of sale. The deposit shall be increased to 10% of the purchase price within 24 hours at the Auctioneer’s office. Deposit funds shall be held by A. J. Billig & Co., LLC. Balance to be paid in cash at settlement, which shall take place within 45 days. If payment of the deposit or balance does not take place within the specified time, the deposit shall be forfeited and the property may be resold at the risk and expense of the Purchaser. Interest to be charged on the unpaid purchase money, at the rate of 12% per annum, from date of contract to date of settlement. All adjustments, including taxes, all other public charges and assessments payable on a monthly or annual basis, and sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of contract and assumed thereafter by the Purchaser. The property will be sold in “AS IS” condition, and subject to easements, agreements, restrictions or covenants of record affecting same, if any. Purchaser assumes the risk of loss from the date of contract forward. The Purchaser agrees to waive the right of inspection for lead paint, as provided under current Federal and State law. The Purchaser waives and releases the Seller, the Auctioneers, and their respective agents, successors and assigns from any and all claims the Purchaser and/or its successors and assigns may now have or may have in the future relating to the condition of the property, including but not limited to the environmental condition thereof. If the Seller is unable to convey good and marketable title, the Purchaser’s sole remedy in law or equity shall be limited to the refund of the deposit. Upon refund of the deposit this sale shall be null and void and of no effect, and the Purchaser shall have no further claim against the Seller or Auctioneers. Recordation costs, transfer taxes and all costs incidental to settlement to be paid by the Purchaser. Time is of the essence.

NO BUYER’S PREMIUM!