REAL ESTATE AUCTION

FEDERAL HILL
"Prime Location"

Renovated, 3 Story
STOREFRONT BUILDING

With 2 Story Apartment


Photos of auction property
FRONT VIEW    STREET SCENE #1    STREET SCENE #2
STREET OVERVIEW - NORTH    SOUTH    CROSS STREET MARKET

Sale On Premises
1020 S. CHARLES STREET
Just North of Cross Street
BALTIMORE, MD 21230

WEDNESDAY, JULY 18, 2007
AT 2:00 P.M.


       THE INFORMATION CONTAINED HEREIN HAS BEEN OBTAINED FROM SOURCES DEEMED RELIABLE AND BELIEVED TO BE ACCURATE. HOWEVER, NO EXPRESS OR IMPLIED WARRANTY IS MADE AS TO THE ACCURACY OF THESE REPRESENTATIONS.

GENERAL INFORMATION

LOCATION:

The property is located in the "Federal Hill Historic District" in the National Registry of Historic Places and in a designated Baltimore City Enterprise Zone. 1020 S. Charles Street is situated in the heart of Federal Hill, one block north of the Cross Street Market. This Georgetown type community features numerous boutiques, stores, bars, nightclubs, restaurants, renovated homes and offices. Public transportation is at the door. The property is convenient to I-395, I-95, MD-295 and I-83, providing easy access to employment centers throughout the Baltimore-Washington region. The MARC railroad station at Camden Yards, a short walk to the west, is the primary commuter rail line between Washington and Baltimore. Oriole Park at Camden Yards and M&T Bank (Ravens) Stadium are adjacent to the rail line and also within walking distance.

Photo of

For more information on Federal Hill, visit:


For more information of the Baltimore Development Corporation Enterprise Zone, visit:
http://www.baltimoredevelopment.com/busassist_eez.html

For directions from your location, visit:
http://www.mapquest.com/directions/main.adp

SITE:

The lot size is 15' front and rear, with depths of 83'4" and 75', more or less

BLOCK PLAT

ZONING:

B-2-3, commercial permitting a grocery store/carry-out and one dwelling unit.

For the Baltimore City Zoning Code, visit:
http://www.ci.baltimore.md.us/government/legislative/zoning/

IMPROVEMENT
DESCRIPTION:

Beautifully renovated brick building located just north of Baltimore's famous Cross Street Market and is known as the "Café Manet." Two story apartment and second floor office above. Fully leased (all tenants are month-to-month). Café Manet and the apartment are both self contained with separate newly installed heating and central air conditioning systems.

First Floor "Café Manet":
Retail and seating area with bowfront window, food preparation and kitchen area, his and hers rest rooms. Currently leased for $1,200 per month. New heat heatpump and central air conditioning system in 2007.
Photos of auction property
FRONT VIEW     SEATING & RETAIL
KITCHEN PHOTO #1     PHOTO #2

Second and Third Floor Apartment Unit:
Great unit that is accessed by a gated side entry from Charles Street. The unit features exposed brick walls, hardwood flooring and wall-to-wall carpeting, completely drywalled interior, third story rear addition, rooftop deck with picturesque views, skylights, newly installed double glazed replacement windows and more. New heat heatpump and central air conditioning system in 2000. New water heater in 2006.
Photos of auction property
ROOFTOP DECK    REAR VIEW    VIEW OF NEARBY CHURCH
VIEW OF RAVEN'S STADIUM

The unit is arranged as follows - living room with exposed brick walls, modern kitchen (with breakfast area, center island, gas range/oven, dishwasher, disposal, pantry and ceramic tile flooring) and large bedroom, on the second floor; airy family room with skylights, vaulted ceiling and walk-out to a great rooftop deck with spectacular view of Raven's stadium and surrounding area, large bedroom, full bathroom, laundry room (with washer and dryer - installed in 2005), and a long hallway with a long row of closets, on the third floor. Currently leased for $1,350 per month. Note: The apartment is registered with the MDE (Maryland Department of the Environment) and has a certificate for full lead reduction.

Photos of auction property
KITCHEN     LIVING ROOM     BEDROOM     HALL CLOSETS     FAMILY ROOM     LAUNDRY

Second Floor Office:
One room office that is currently leased for $450 per month.

ANNUAL REAL
ESTATE TAXES: 


$3,326

TITLE:

In fee simple; sold free and clear of all liens

INSPECTION:

1:00 p.m. on the day of the auction


TERMS OF SALE

       Deposit payable by certified or cashier's check of $25,000 will be required of the purchaser at time and place of sale. The deposit is to be increased to 10% of the purchase price within 24 hours at the office of the Auctioneers. Balance to be paid in cash within 45 days. If payment of the balance does not take place within the specified time, the deposit will be forfeited and the property may be resold at the risk and expense of the defaulting 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. Taxes and all other public charges and assessments, payable on an annual basis, including 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, without express or implied warranty as to the nature and description of the improvements as contained herein; and subject to the rights fo the existing tenants, easements, agreements, restrictions or covenants of record affecting same, if any. Purchaser assumes risk of loss from the date of sale forward. 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 Auctioneer. The purchaser agrees to waive the right of inspection for lead paint as provided under current Federal and State Law. Cost of all recordation and transfer taxes to be paid by the purchaser. TIME IS OF THE ESSENCE.

NO BUYERS PREMIUM!

Broker participation is invited.
BROKER REGISTRATION FORM