HomeMy WebLinkAboutRESOLUTION - 14-23 - 4/11/2023 - 570 E. HIGGINS, THE AFTICA GROUP, LLC, PURCHASE AND SALE AGREEMENTRESOLUTION NO. 14-23
A RESOLUTION AUTHORIZING THE MAYOR AND VILLAGE CLERK TO EXECUTE
AN INTERGOVERNMENTAL PURCHASE AND SALE AGREEMENT BETWEEN THE
VILLAGE OF ELK GROVE VILLAGE AND THE AFTICA GROUP, LLC
(570 E. HIGGINS ROAD)
NOW, THEREFORE, BE IT RESOLVED by the Mayor and Board of Trustees of the
Village of Elk Grove Village, Counties of Cook and DuPage, State of Illinois as follows:
Section 1: That the Mayor be and is hereby authorized to sign the attached documents
marked:
PURCHASE AND SALE AGREEMENT
BETWEEN THE VILLAGE OF ELK GROVE VILLAGE
AND THE AFTICA GROUP, LLC
(570 E. HIGGINS ROAD)
a copy of which is attached hereto and made a part hereof as if fully set forth and the Village Clerk
is authorized to attest said documents upon the signature of the Mayor.
Section 2: That this Resolution shall be in full force and effect from and after its passage
and approval according to law.
VOTE: AYES: 5 NAYS: 0 ABSENT: 0
PASSED this 11` day of April 2023
APPROVED this IIt' day of April 2023
APPROVED:
Mayor Craig B. Johnson
Village of Elk Grove Village
ATTEST:
Loretta M. Murphy, Village Clerk
PURCHASE AND SALE AGREEMENT
1. THE VILLAGE OF ELK GROVE VILLAGE, an Illinois Municipal Corporation,
having its principal office located at 901 Wellington Avenue, Elk Grove Village, Illinois, 60007,
(the "Purchaser"), agrees to purchase at a price which will result in net sale proceeds of Eight
Hundred Fifty Thousand and No/100 Dollars ($850,000.00), the Purchase Price on the terms set
forth herein, the following described real estate, in Cook County, Illinois (the "Property"):
See Legal Description Rider Attached Hereto As Exhibit'A'
(approximately 1.15 acres or 50,233 square feet)
PIN: 08-21-401-010-0000
Address: 570 E. Higgins Road, Elk Grove Village, Illinois 60007
The manner of computation of such net sale proceeds shall be the same as that used in the proforma
seller's closing statement attached as Exhibit B.
2. THE AFTICA GROUP, LCC, an Illinois Limited Liability Company, having its
principal located at 570 E. Higgins Road, Elk Grove Village, Illinois 60007 (the "Seller"), agrees
to sell the real estate and the building/improvements thereon described above, (the "Property"), at
the price and terms set forth herein, and to convey or cause to be conveyed to Purchaser or nominee
of title thereto by a recordable Special Warranty Deed, subject only to: (a) covenants, restrictions,
building lines, private, public and utility easements, and roads and highways, if any; (b) special
taxes or assessments for improvements not yet completed; (c) any unconfirmed special tax or
assessment; (d) installments not due at the date hereof of any special tax or assessment for
improvements heretofore completed; and (e) general taxes for the year 2022 and subsequent years
including taxes which may accrue by reason of new or additional improvements during the year
2022.
3. Purchaser will deposit $15,000.00 with a title insurance company licensed in Illinois,
("Escrowee"), as Earnest Money within five (5) business days after the Parties' full execution of
this Agreement, to be applied toward the Purchase Price. Purchaser agrees to pay or satisfy the
balance of the Purchase Price in cash, plus or minus prorations, at the time of Closing. Said Earnest
Money shall be deposited in a Strict Joint Order Escrow with Escrowee for the mutual benefit of
the Parties. Any cost of the Strict Joint Order Escrow shall be divided equally between the Parties.
4. Closing shall be on November 3, 2023, ("Closing Date"), subsequent to the satisfactory
completion of the Due Diligence Period and satisfactory resolution of the environmental
contingencies set forth in Paragraph 13 of this Agreement, or at such other date as mutually agreed
by the Parties in writing, at the office of the title insurer nearest the property, provided title is
shown to be good, and provided all contingencies set forth in this Agreement have been satisfied
or resolved as herein set forth. As stated, Purchaser shall have a Due Diligence Period which shall
terminate not later than May 12, 2023, to determine the suitability of the Property and complete
all tests, studies, inspections and investigations of the Property. Purchaser shall have the sole right
570 Higgins EG - PSA
at any time before the expiration of the Due Diligence Period to cancel this Agreement and receive
a full refund of all of its Earnest Money deposited with the Escrowee. Such notice of cancelation
must be in writing and delivered pursuant to the notice provisions of this Agreement. If the
Purchaser has not canceled this Agreement by May 12, 2023, or the Due Diligence Period and
environmental contingencies have not been mutually extended by the Parties, then the Earnest
Money shall become non-refundable.
5. Purchaser agrees to purchase the subject Property in its present "as is condition" and
acknowledges that Seller has not made any representations or warranties as to the building(s) or
any contents located on the Property, subject to the Purchaser's inspection of the Property and any
buildings located on the Property. Seller shall not be required to pay or contribute toward any
expense for cost of repair to the Property or any building located on the Property unless otherwise
agreed as a part of the Purchaser's Due Diligence Period contingency. Seller shall deliver exclusive
and complete possession of the entire Property, including all building(s) and exterior parking areas
and parking lots, to the Purchaser at Closing, except as otherwise mutually agreed to by the Parties'
in writing subsequent to the Parties' full execution of this Agreement.
The Parties agree that the Seller will be allowed to remove prior to Closing various fixtures from
the Property as approved by the Purchaser in writing. Exterior windows, exterior doors and any
fixtures that could reasonably result in a material security and/or safety issue may not be removed.
6. Seller agrees to furnish Purchaser with any existing ALTA survey or otherwise for the
Property within fourteen (14) business days after the Parties' full execution of this Agreement.
7. Seller shall deliver or cause to be delivered to Purchaser or Purchaser's attorney, at Seller's
expense, within 20 business days after close of the due diligence period , a current ALTA survey
dated after the date of this Agreement, and a title commitment for an owner's extended title
insurance policy issued by the title insurance company in the amount of the Purchase Price,
covering title to the Property, showing title in the intended grantor subject only to (a) the general
exceptions contained in the policy; (b) the title exceptions set forth above; and (c) title exceptions
pertaining to liens or encumbrances of a definite or ascertainable amount which may be removed
by the payment of money at the time of Closing and which the Seller may so remove at that time
by using the funds to be paid upon the delivery of the deed (all of which are herein referred to as
the permitted exceptions). The title commitment shall be conclusive evidence of good title as
therein shown as to all matters insured by the policy, subject only to the exceptions as therein
stated. Seller also shall furnish Purchaser an affidavit of title in customary form covering the date
of Closing and showing title in Seller subject only to the permitted exceptions in foregoing items
(b) and (c) and unpermitted exceptions or defects in the title disclosed by the ALTA survey, if any,
as to which the title insurer commits to extend insurance.
8. If the title commitment or survey discloses either unpermitted exceptions or survey matters
(herein referred to as "exceptions"), Seller shall have ten (10) business days from the date of
delivery thereof to have the exceptions removed from the commitment or to correct such survey
defects, or to have the title insurer commit to insure against loss or damage that may be occasioned
by such exceptions, and, in such event, the time of Closing shall be five (5) business days after
delivery of the commitment. If Seller fails to have the exceptions removed or correct any survey
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defects, or in the alternative, to obtain the commitment for title insurance specified above as to
such exceptions or survey defects, or in the alternative, to obtain the commitment for title insurance
specified above as to such exceptions or survey defects within the specified time, Purchaser may
terminate this Agreement or may elect, upon notice to Seller within five (5) business days after
the expiration of the ten (10) day period, to take title as it then is and may propose a deduction
from the Purchase Price, liens or encumbrances of a definite or ascertainable amount. Seller shall
have three (3) business days to agree to said deduction. 1f Seller does not agree to said deduction,
Purchaser may elect to terminate this Agreement, without further actions of the Parties.
9. Rents, utility charges, premiums under assignable insurance policies, general real estate
taxes, and other similar items, ("costs"), shall be prorated at Closing as of the Closing Date. Real
Estate tax credits for unpaid 2022 and 2023 real estate taxes, at Closing, shall be prorated at 105%
of the last ascertainable full year's real estate tax bill, regardless of any change in real estate tax
assessment. Seller shall be responsible for said Costs through the date of Closing, and Seller shall
cooperate and furnish any documentation necessary to comply with all state, county and local laws
therewith. All prorations are final unless otherwise provided herein.
10. The provisions of the Uniform Vendor and Purchaser Risk Act of the State of Illinois shall
be applicable to this Agreement. Seller shall be required to provide fire insurance coverage for
any structures located on the Property pending Closing as set forth herein, and the risk of loss due
to fire, other casualty, or condemnation remains with Seller. If, prior to Closing, any such loss
occurs or any condemnation action is filed, then Purchaser may terminate this Agreement, in which
case neither Purchaser nor Seller shall have any further liability hereunder, unless Seller's acts or
omissions related to such loss or action violate its obligations under this Agreement, including the
representations and warranties or the covenants and agreements set forth in this Agreement, in
which case Purchaser may pursue any such remedy at law or equity.
11. Upon mutual agreement by the Purchaser and Seller, this sale may be closed through an
escrow with the title insurance company, in accordance with the general provisions of the usual
form of Deed and Money Escrow Agreement then in use by the title insurance company, with such
special provisions inserted in the escrow agreement as may be required to conform with this
Agreement. Upon the creation of such an escrow, anything herein to the contrary notwithstanding,
payment of Purchase Price and delivery of deed shall be made through the escrow and this
Agreement and the earnest money shall be deposited in the escrow. The cost of any New York
Style Escrow shall be divided equally between Seller and Purchaser. All other escrow charges,
other than any escrow fee related to Purchaser's lender, are to be paid by Seller. The Parties shall
equally divide the cost of the extended coverage endorsement. Endorsements to clear title or
survey exceptions, Owner Title Policy Charge, and invoiced title charges for the owner policy
shall be paid by the Seller, with the exception of the cost of recording the Special Warranty Deed
which shall be paid by the Purchaser.
12. Seller represents that it is not a "foreign person" as defined in Section 1445 of the Internal
Revenue Code and is therefore exempt from the withholding requirements of said Section. Seller
will furnish Purchaser at Closing the Exemption Certification set forth in said Section.
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13. In addition to the Due Diligence Period contingency, Purchaser shall have reasonable
access to the subject Property, for purposes of soil testing, surveying, engineering, examination
and planning, from and after the execution of this Agreement in order to conduct a Phase I
Environmental Site Assessment ("Phase I") which shall be paid for by Purchaser. Such Phase I
shall be conducted and concluded by May 12, 2023. If the Phase I reveals environmental concerns
that necessitate a Phase iI assessment, Purchaser shall share such concerns with Seller. With the
expressed consent of the Seller, the Purchaser may order and pay for said Phase II, or the Purchaser
may then give notice of cancelation terminating this Agreement with a full refund of all Earnest
Money previously deposited into the Strict Joint Order Escrow. If Purchaser proceeds with the
Phase II assessment, Purchaser shall have until May 26, 2023, to complete said Phase Ii
assessment. If the Phase II indicates no environmental concerns, this contingency shall be
satisfied. If the Phase II raises additional concerns either Party may terminate this Agreement.
With respect to any and all assessments/inspections, Purchaser shall save and hold harmless Seller
from any costs or liabilities resulting from such access, and Purchaser shall restore the subject
Property to its original condition after each such inspection. If Purchaser determines, in its sole
discretion, that, as a result of any environmental inspection of the subject Property, the subject
Property is not satisfactory for the uses contemplated by Purchaser, Purchaser may notify Seller,
in writing, and terminate this Agreement with a full refund of all Earnest Money previously
deposited returned to the Purchaser. Purchaser acknowledges that time is of the essence and will
diligently pursue the completion of the inspection process and will notify Seller in a timely manner
if it elects to terminate this Agreement.
14. Seller does hereby represent to Purchaser as follows:
A. Prior to the Closing Date, there shall be no leases, occupancy agreements,
management agreements, or maintenance agreements relating to the subject Property and Seller
agrees not to enter into any such agreements relating to the subject Property without the written
consent of Purchaser.
B. To the best of Seller's actual knowledge, there are no proceedings presenting,
pending or threatened for the taking by exercise of the power of eminent domain or, in any other
manner, for a public or quasi -public purpose, of all or any part of the subject Property except as
disclosed in this Agreement.
C. Except as disclosed in this Agreement, to the best of Seller's actual knowledge,
there is no pending or threatened litigation or administrative proceeding involving in any manner
the subject Property.
D. To the best of Seller's knowledge, there are no substances upon the subject Property
nor are there activities engaged in the subject Property which constitute a violation of any
environmental law. In addition, to the best of Seller's knowledge, no toxic materials, hazardous
wastes, hazardous substances, pollutants or contaminants have been generated, released, stored or
deposited over, beneath or on the subject property from any source whatsoever, nor has any part
of the subject property been used for or as a land fill, the result of which could impose any liability
under applicable federal or state laws and regulations, including, but not limited to, the
Comprehensive Environmental Response, Compensation and Liability Act of 1980 (42 U.S.C.
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570 Higgins EG - PSA
' 9601 et seq.)and the Resource Conservation and Recovery Act (42 U.S.C. ' 6903 et seq.), and
Seller warrants and represents that it has not received any notice nor is it otherwise aware of any
actual threatened claims, actions, proceedings, suits or demands by the EPA or any third Party
relating to environmental matters at, on or arising out of the subject property.
Further, and to the best of Seller's knowledge: (a) any use of the Property for the
generation, storage or disposal of any (1) asbestos, (2) petroleum, (3) explosives, (4) radioactive
materials, wastes or substances, or (5) any substance defined as "hazardous substances" or "toxic
substances" in the Comprehensive Environmental Response, Compensation and Liability Act of
1980, as amended, 42, U.S.C. 9601, et seq., the Hazardous Materials Transportation Act (49 U.S.C.
1802), the Resource Conservation and Recovery Act (42 U.S.C.6901), or in any other Applicable
Law governing environmental matters ("Environmental Laws") (collectively, "Hazardous
Materials") has been in compliance with all Environmental Laws, (b) there are not any Hazardous
Materials present on the Property, (c) the Property is currently in compliance with all
Environmental Laws; and (d) there are currently no Storage Tanks on the Property and any Storage
Tanks formerly located on the Property were removed in compliance with all Environmental Laws;
and,
Seller has received no written notice of. (a) any pending or threatened action or proceeding
arising out of the presence of Hazardous Materials on or at the Property, or (b) any alleged violation
of any environmental laws.
E. To the best of Seller's knowledge, there are no uncured violations of any law,
ordinance, order, regulation, rule or requirement of any governmental authority affecting the
subject Property.
F. Seller is vested with all necessary legal authority to enter into this Agreement; has
full power, authority and legal right, and will have obtained all approvals and consents required to
execute this Agreement and to carry out all of Seller's obligations under this Agreement; and this
Agreement will constitute the valid and binding obligation of Seller in accordance with its terms.
G. No notices or requests have been received by Seller from any governmental agency
or other utility with respect to the subject Property with which Seller has failed or refused to
comply. Any such notices or requests received prior to Closing shall be complied with by Seller
at its expense. If Seller does not elect to so comply, Purchaser may cancel the Agreement, or
Purchaser may elect to take title subject to such matters.
H. To the best of Seller's knowledge, there are no claims, demands, liabilities, actions,
special assessments or other governmental assessments or charges pending or threatened against
Seller or the subject Property (including, without limitation, pending or threatened condemnation
proceedings by any public or governmental agency or authority other than that disclosed in this
Agreement) which:
constitute or might result in a lien or claim against the subject Property,
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(2) may result in a monetary or non -monetary obligation to be fulfilled by the
Purchaser,
(3) could prevent, prohibit, delay or interfere with Purchaser's use of the subject
Property for its intended uses and purposes, or
(4) could otherwise deprive Purchaser of any portion of the subject Property.
1. There are no attachments, executions or assignments for the benefit of creditors, or
voluntary or involuntary proceedings in bankruptcy or under any other debtor relief laws pending
or threatened by or against Seller or any of its partners.
J. Except as otherwise provided in this Agreement, from and after the date hereof,
Seller shall (except in the case of emergency) refrain from (1) making any changes or
improvements upon or about the subject Property; (2) creating or incurring any mortgage lien,
other lien, pledge or other encumbrance in any way affecting the subject Property; and (3)
committing any waste or nuisance upon the subject Property. Seller shall maintain the subject
Property, keep the subject Property in compliance with all laws, ordinances, regulations and
restrictions affecting the subject Property and its use, and shall pay all bills and expenses regarding
the subject Property until the Closing.
K. There are no outstanding options or rights granted by Seller to acquire the subject
Property, or any part thereof, and there is no Party other than Purchaser having any right or option
to acquire the subject Property or any part thereof, except any foreclosure rights set forth in any
mortgages affecting the subject Property.
L. There are no agreements, including any franchise agreements of any type or kind,
whether written or oral, affecting the use, maintenance and operation of the subject Property which
will survive the Closing. Seller represents that any franchise agreement or franchise rights of any
party (including the Seller) shall be fully resolved and concluded prior to Closing.
M. The Parties' agree that a brokerage fee/commission in the amount of 2.50% of
$850,000.00 ($21,250.00) shall be payable to Lee & Associates of Illinois, LLC at the time of
Closing. The broker commission shall be paid by Purchaser.
N. Purchaser shall be responsible to pay for the Seller's Closing expenses of sale and
Closing Costs in an amount not to exceed $15,000.00. Additionally, Purchaser shall also provide
the Seller with a closing costs credit in the amount of $3,000.00 at Closing to relocate the existing
shed currently located on the Property to the neighboring building per Elk Grove Village codes.
O. Notwithstanding anything within this Agreement to the contrary, all buildings
located at the Property must be free and clear of all occupants, tenants, employees, leases, and
agreements, not less than forty-eight (48) hours prior to Closing on November 3, 2023, or at an
earlier date as agreed between the Purchaser and Seiler.
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15. Seller agrees to deliver possession of the subject Property at Closing in the same "as is
condition" as it is at the date of this Agreement, ordinary wear and tear excepted.
16. All notices to be given hereunder shall be personally delivered, sent by facsimile
transmission, sent by overnight courier, or sent by U.S. mail, with postage prepaid, or by facsimile
transmission, to the Parties at the following addresses (or to such other or further addresses as the
Parties may hereafter designate by like notice similarly sent):
Purchaser: Matthew Roan
Village Manager
Village of Elk Grove Village
901 Wellington Street
Elk Grove Village, IL 60007
Tele: (847) 357-4004
Fax: (847) 357-4044
Email: mroan a,elkgrove.org
With a copy to: George B. Knickerbocker
Village Attorney
Village of Elk Grove Village
901 Wellington Street
Elk Grove Village, IL 60007
Tele: (847) 357-4032
Fax: (847) 357-4044
Email: P-knickerbockerkelk rog_ve_org
With a copy to: William J. Payne
Attorney at Law
1100 W. Northwest Hwy., # 103
Mount Prospect, IL 60056
Tele: (847) 483-5027
Fax: (847) 483-5029
Email: williamipayne7 d�aol.com
Seller: Thomas S. Wagner, General Manager
THE AFTICA GROUP, LCC
570 E. Higgins Road
Elk Grove Village, IL 60007
Tele: (847) 228-6022
Fax: (847) 228-6029
Email:
With a copy to: Robert A. Hall
Bishop & LaForte, Ltd.
I S450 Summit Avenue, Suite 325
Oakbrook Terrace, IL 60181
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570 Higgins EG - PSA
Tele: (630) 916-123
Fax:
Email: rhall(crNshoplaforte.com
All notices sent by mail shall be deemed effectively given on the business day next following the
date of such mailing. All notices personally delivered, sent by facsimile transmission or sent by
overnight courier shall be deemed effectively given on the date of such delivery.
17. This Agreement and the exhibits attached hereto, if any, embody the entire agreement
between the Parties in connection with this transaction, and there are no oral or parole agreements,
representations, or inducements existing between the Parties relating to this transaction which are
not expressly set forth herein and covered hereby. This Agreement may not be modified except
by a written agreement signed by all of the Parties. However, if any portion of this Agreement is
invalid or unenforceable against any Party under certain circumstances, then this Agreement will
be deemed to be amended by deleting such provisions. This Agreement will be enforceable, as
amended, to the fullest extent allowed by law as long as the amendment does not result in a failure
of consideration.
18. Defaults and remedies:
A. Purchaser's Default. If Purchaser (i) fails to perform in accordance with the terms
of this Agreement, and such default is not cured within ten (1) business days from the date for
Purchaser's receipt for Seller's written notice to Purchaser of such default, or (ii) breaches a
representation or warranty hereunder, then, as Seller's remedy for such default, Seller shall be
entitled to retain the earnest money and any interest earned thereon,and pursue any other remedy
available to it at law or in equity.
B. Seller's Default. If Seller fails to perform in accordance with the terms of this
Agreement and such default is not cured within ten (10) business days from the date of Purchaser's
written notice to Seller of such default, Purchaser may, at its option: (a) receive a refund of all
monies deposited by Purchaser hereunder, together with all interest earned thereon, and collect all
damages to which Purchaser may be entitled, including costs incurred in connection with this
Agreement; (b) specifically enforce the terms and conditions of this Agreement, or (c) exercise
any other right or remedy available to Purchaser at law or in equity.
C. In the event either Purchaser or Seller defaults in the performance for any obligation
imposed upon it under the provisions of this Agreement, the defaulting party shall pay all
reasonable attorneys' fees and expenses of the non -defaulting party incurred in any litigation or
negotiation undertaken to enforce any of the obligations of the defaulting party under this
Agreement, or in any litigation or negotiation in which the non -defaulting party shall, without its
fault, become involved through or on account of this Agreement.
19. The Seller shall reconfirm all representations and warranties set forth in this Agreement as
true, accurate, and complete on and as of the Closing Date.
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20. Seller's representations and warranties shall survive the Closing for a period of 12 months.
Seller shall indemnify, hold harmless, and defend Purchaser and its successors and assigns, from
and against any and all claims, demands, losses, liens, costs, expenses (including reasonable
attorneys' fees and court costs), damages, liabilities, judgments or decrees of whatsoever kind or
nature which, directly or indirectly, are caused by, result from, arise out of, or occur in any manner
in connection with any material inaccuracy in the representations or warranties contained herein.
The preceding indemnity and hold harmless shall not apply to matters attributable to acts or
omissions of the Purchaser of third parties.
21. The Parties shall execute all documents and take all other actions consistent with this
Agreement that are reasonably necessary to consummate the transaction contemplated herein.
Seller agrees to cooperate and take appropriate action, at the request of Purchaser, to zone or re -
subdivide the Property as required by any governmental authority.
22. The Parties hereto agree that time is of the essence in this transaction and that this
Agreement may be executed in counterparts and shall be governed by and interpreted in
accordance with the laws of the State of Illinois.
23. Each Party hereto shall respectively pay the fees and charges of their attorneys and
consultants.
24. The Purchaser shall cause the Village Board to timely take any action required by its
Corporate Authorities so as not to unreasonably delay the performance of Purchaser's obligations
hereunder.
25. Each party shall indemnify and hold the other party harmless from all loss, damage, costs
and expenses, including reasonable attorney fees, that the other party may suffer as a result of any
claim made by any broker or finder with respect to this agreement and the transaction contemplated
herein.
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IN WITNIrSS WHEREOF. the Parties heret(..) have executed this Purchasc and Sale
reent this daof '-/ 2023. the ":"agreement Date--
Agmey 11
7
I I IR
1-11F VILLAGE OF EPC-'CGUO%'L
VILLAG!", /It
all Illinois MuniewfCorpWation
Craig, B. Johnson
Mavor
UNIM"
Bv.
T-orne Murphy, ViI1W
.ge Ckfrk �7
k:
THE AFIC_. GROUP, LCC,
an Illinois I Ainited Liability Company
By -
1'homas S�Navner
lis Gcneral kfana:er
Page 10 of 12
570 Higgins EG - PSA
F.XHiRIT 'A'
LEGAL DESCRIPTION
LOT 22 (EXCEPT THE SOUTHERLY 17 FEET THEREOF, AS CONDEMNED IN CASE NO.
70L7062) IN HIGGINS ROAD COMMERCIAL SUBDIVISION UNIT NO. 16, BEING A
RESUBDIVISION IN SECTION 21, TOWNSHIP 41 NORTH, RANGE 11, EAST OF THE
THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS ACCORING TO THE PLAT
THEREOF REGISTERED IN THE OFFICE OF THE REGISTRAR OF TITLES OF COOK
COUNTY, ILLINOIS, ON APRIL 28, 1967, AS DOC. NO. 2321821.
ADDRESS: 570 E. Higgins Road, Elk Grove Village, Illinois 60007
PIN: 08-21-401-010-0000
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EXHIBIT `B'
SELLER'S CLOSING STATEMENT (preliminary)
PROPERTY: 570 East Higgins Road, Elk Grove Village, Illinois 60007
PIN: 08-21-401-010
SELLER: The Aftica Group, LLC, an Illinois limited liability company
PURCHASER: The Village of Elk Grove Village, an Illinois municipal corporation
CLOSING: November 3, 2023
Debit
Credit
Sale price
$ 850 000
Earnest money deposit $ 15,000
Green State Bank- first mortgage 233,000
General Taxes 2023 prorated from 1 / 1 /23 to 11 /3/23
based on 105% of 2021 Taxes of $37,381.38
(307
days) 33,014
Fidelity National Title, owner policy, escrow, other
fees and charges 4,736
State of Illinois Transfer Tax )
Cook County Transfer Tax ) exempt
Elk Grove Village Transfer Tax )
Survey 2,600
Seller credits
Closing costs
7,336
Relocation of shed
3,000
Commission, Lee & Assoc. 21,250
21,250
Due from
Purchaser 571,986
TOTAL SM.58
881586
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