516 Morse Ave

This property is owned by the Cook County Land Bank Authority. The Authority requires a buyer to fill out the checklist with their plan for the property. After the Authority vets the plan and accepts the price offer, they will create a term sheet. Once agreed to the term sheet, a non-refundable deposit of $5,000 is required. The Authority will provide a new Phase 1 Environmental, where needed. After the term sheet and deposit, the Authority will create a purchase and sale agreement which will provide an additional 30 days of due diligence and a close 60 days or sooner after the end of the due diligence process.