Pon Group, LLC (the “Debtor”) hereby gives notice of the opportunity of prospective purchasers to submit higher and better offers and of a hearing on its Motion for an Order (A) Approving the Sale of the Debtor’s Property Free and Clear of All Liens, Claims, Encumbrances, and Interests; (B) Approving the Form and Manner of Notice for Such Sale; and (C) Granting Related Relief (the “Sale Motion”) relating to the sale of the Real Property and Improvements located at 951-961 W. Thorndale Ave., Bensenville, Illinois 60106 (“the “Property”). The Property is described as follows:
The Property is zoned I-2, Light Industrial District. The Property is located in an industrial area immediately west of Chicago O’Hare International Airport. The Property is a 219,933 square foot (5.05 acre), trapezoidal, interior (mid-block) site. The Property is improved with a one-story, 120,985 square-foot gross building area, precast-concrete, industrial warehouse building.
The Debtor has created a virtual due diligence room that includes, inter alia, a title commitment, survey, environmental report, and property condition report, which are available to all prospective purchasers via a link that may be obtained by written request to Debtor’s counsel. Prospective purchasers may arrange for an inspection of the Property by written request to Debtor’s counsel.
The Debtor is soliciting offers for the Property by the execution and delivery of a Purchase and Sale Agreement (the “Agreement”) in substantially the form of the model Agreement available through the Debtor’s due diligence room. Each Agreement constitutes an irrevocable offer to purchase the Property on the terms and conditions set forth in the Agreement, which offer will remain outstanding until the conclusion of the hearing on the Sale Motion.
The Debtor is requesting that all Agreements be delivered to the Debtor’s counsel on December 17, 2018 by 5:00 p.m. CST. The Debtor’s counsel will prepare a report of all Agreements received and will afford all parties submitting an offer an opportunity to submit higher and better offers at the hearing to consider the Sale Motion.
A hearing on the Sale Motion and to approve the Sale of the Property will be held before the United States Bankruptcy Court for the Northern District of Illinois, Eastern Division, 219 S. Dearborn St., Courtroom 642, Chicago, Illinois, 60604 on December 19, 2018 at 10:00 a.m. (the “Sale Hearing”) or as soon thereafter as practically possible. Pursuant to Federal Rule of Bankruptcy Procedure 6004(b), objections to the relief requested in the Sale Motion and to the Sale itself must be in writing and filed with the Bankruptcy Court no later than December 12, 2018. For additional information regarding the Property and the Sale, contact the Debtor’s counsel at [email protected]
Paul M. Bauch (ARDC #6196619)
Carolina Y. Sales (ARDC #6287277)
BAUCH & MICHAELS, LLC
53 W. Jackson Blvd., Suite 1115
Chicago, Illinois 60604
Tel. (312) 588-5000
DailyDAC™ is the oldest, most trusted, and most widely used provider of public notices of asset sales and case commencements, and other important notices involving companies in financial distress in the United States and Canada. DailyDAC™ public notices are used by bankruptcy trustees, chapter 11 debtors in possession, federal and state court receivers, and secured parties disposing of their collateral under Article 9 of the Uniform Commercial Code or other state law trust (and their respective auction firms, law firms, and other agents). Learn more.
Many sales of distressed companies and distressed business assets are not widely advertised. If you are buyer of such companies or assets, you may be well served by becoming a paying subscriber to Distressed Deal Data™. Find out more.
PUBLIC NOTICE OF BANKRUPTCY AUCTION: Real Property in Queens, New York
PUBLIC NOTICE OF UCC SALE: Cross Borders, LLC
PUBLIC NOTICE OF ABC SALE: Platform Asset Holdings, LLC and Related Companies
PUBLIC NOTICE OF 363 SALE: Vanguard Wines, LLC
PUBLIC NOTICE OF UCC SALE: NXT Communications Corporation
PUBLIC NOTICE OF ASSET SALE: Enmotus, Inc.
Please log in again. The login page will open in a new tab. After logging in you can close it and return to this page.