Auction Opportunity:

DOWNTOWN BALTIMORE
DEVELOPMENT SITE

7,800 Sq. Ft. Level Lot Zoned B-2-3, Commercial



Sale On Premises
812-816 MADISON AVENUE
High Visibility from Martin Luther King, Jr. Boulevard
"Seton Hill", Baltimore City, MD 21201

THURSDAY, SEPTEMBER 29, 2005
AT 11:00 A.M.


LOCATION:

An outstanding parcel, situated in "Seton Hill," near University of Maryland, University of Baltimore, Social Security, Baltimore's Cultural Arts District and State Center Office Complex. The site is suitable for commercial, residential or mixed-use development.

Read the article in the Baltimore Sun about redevelopment in the area:
http://www.baltimoresun.com/news/local/bal-te.md.state31aug31,1,2039767.story?coll=bal-local-headlines

Neighborhood Description:
http://www.ci.baltimore.md.us/neighborhoods/central/setonhill.html

LOCATION MAP

SITE:

Currently unimproved and clear, the lot is rectangular, fronting 65' on Madison Avenue by 120' on Moore Street, more or less. The property is comprised of 3 separate lots. Public utilities are available.

BLOCK PLAT

ZONING:

B-2-3, Community Business District, permitting a variety of residential and commercial uses.

Baltimore City Zoning Code:
http://www.ci.baltimore.md.us/government/legislative/zoning/
ZoningCodeTitle6.pdf


TITLE:

In fee simple. The property is sold free and clear of liens.

TAXES:

Total 2005 real property taxes were $797.04

TERMS OF SALE:

A $40,000 deposit, payable by certified check or 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. Balance to be paid in cash within 45 days. If payment of the 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 sale to date of settlement. All adjustments, including taxes, all other public charges and assessments payable on an annual basis, and sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of sale 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 sale forward. The purchaser waives and releases the sellers, 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 and transfer taxes to be paid by the purchaser. Time is of the essence.

NOTE: Prospective purchasers are encouraged to perform their own due diligence regarding the permitted uses of the site.

No Buyer's Premium

BROKER
PARTICIPATION:


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