1500 E 77th St N Park City, KS 67219

Listing details for 1500 E 77th St N, Park City, KS 67219 : OFF-SITE AUCTION; TUESDAY JULY 17, 2018 AT 12:00 NOON @ SEDGWICK COUNTY FIRE STATION #32, 7750 WILD WEST DR. PARK CITY, KS. Tract 1 of 2 tracts being offered. This 82 acre tract of land is what the Wichita Greyhound Park sits on. This is a commercially zoned property that has and escalating lease that runs through 2039. Sedgwick County is selling the land only with lease rights. The lessee owns all the buildings and improvements and is responsible for upkeep and all taxes. Current annual lease payment is $87,500. Starting December 1, 2018 the annual lease payment goes to $91,000. The last 5 years of annual lease payment will be $101,500. Lease statements are sent monthly to Wichita Greyhound Park, Inc. This property has paved frontage on the east side (Hydraulic St) and the south side (77th St N). It has approximately 25 acres of paved parking lots with 3 public and 1 private entrances. It has easy access from I135 at either 77 ST N or 85th ST N exits with paved roads to all entrances. An excellent investment opportunity for the right individual or group. Property is being sold “As-Is, Where-Is” in its present condition. Possession at closing subject to tenant rights. Tenant is responsible all taxes. Earnest money of $100,000 is non-refundable and purchase contract is not contingent on loan. Closing will be on or before August 17, 2018. Buyer and Seller to share title policy and closing costs equally. Buyer is responsible for all inspections and due diligence. Announcements made by the auctioneer during the time of the auction will take precedence over any previously printed or any other oral statements made. Successful winning bidder(s) will be required to sign all necessary legally binding purchase documents immediately upon conclusion of auction. Potential Buyers must register online or by contacting agent to receive a Buyer Information Packet that includes copy of lease. If documents are not understood, broker recommends buyer to seek competent advice. All information deemed reliable, but not guaranteed. Prospective buyers must register as a bidder to obtain a Buyer Information Packet that contains a copy of the lease.