Name 506 N Hanover Street, Okawville, IL 62271
Auctioneer Adam's Auction & Real Estate Services Inc
Type Online-Only Auction
Date(s) 7/18/2022 - 9/21/2022
Bidding Closes: 5pm ~ Wednesday, September 21, 2022
Preview Date/Time VIEWING: SUN., SEPT. 18TH ~ 12-2PM
Checkout Date/Time Property will close 30 days after auction close date.
Location 506 N Hanover Street
Okawville, IL 62271
Buyer Premium 10% Buyers Premium
VIEWING: SUN., SEPT. 18TH ~ 12-2PM Listed on the National Register of Historic Places, and the last natural mineral spa in the State of Illinois! Located at 506 Hanover St, in Okawville, IL and Known as The Natural Springs Hotel. The original hotel was built in 1893 with three additions added to the original structure in the mid 1980's. The hotel has 37 rooms in total with the original building housing 13 historic rooms including five suites, one junior suite, six pool side rooms and a 2,160 Sq. Ft. 3BR/1BA apartment complete with kitchen, washer and dryer, and central heating and air. In addition to the rooms in the original building there are 10 standard rooms on the south side of the hotel with interior and exterior access, and an additional 8 standard rooms on the North side of the hotel with exterior access only. The hotel includes five office spaces for management and employees as well as a large conference room that can be rented out to local organizations. Centrally located within the hotel is the indoor, in-ground 30,000-gallon pool. Guests can enjoy a drink at the Steampipe Lounge and Sports Bar located on the premises. The lounge has five gaming machines, as well as a fenced in outdoor beer garden. For complete dining guests can go to The Boiler Room Bar and Grill. The restaurant is located within the hotel and has a full bar, fully equipped commercial kitchen, walk-in cooler, walk-in freezer, and various catering equipment that will stay with the property. The large formal dining room within the restaurant can be rented out for large events or banquets. The underground natural mineral spring water is held in 4 separate wells on the property. The largest of these is an artisan well built in 1867. The well measures 20 ft. x 30 ft. x 16 ft. deep and is brick lined with arched ceilings and openings. The mineral water was bottled and sold at one time, but distribution stopped during renovations in 2012. Production and bottling of the mineral water for distribution and sale, possible with proper approval and licensing, at a separate location from the hotel. The mineral bath house and spa is just a few steps from the pool area and consists of the mineral bathhouse with eight private mineral bathtubs, a men's locker room and women's locker room with separate bathrooms. The massage area of the spa has 4 private massage rooms, a sauna, as well as two private showers, men and women's restrooms and handicapped accessible shower with separate handicapped accessible bathroom. For ease of deliveries the loading dock has two large bay doors that open into additional storage space. Included in the sale of the hotel are two lots located directly behind and in front of the property. The front lot is approximately 7,560 square feet while the back lot is approximately 2 acres +/- and includes an additional outbuilding for storage and gazebo. The hotel was featured in the popular television series Ghost Hunters in 2019 and is in the heart of historic Okawville, IL and just 40 miles from downtown St. Louis via I-64. Come by the upcoming open house and walk through this historic hotel to see its potential for yourself!
Auction Terms & Conditions Live Webcast & Timed Auction Terms & Conditions Purchases can be paid for by Bank wire of funds or Visa/Mastercard. Note: All payments must be made in full before items will be released or shipped. 2. If the Auctioneer determines that any bid that is not commensurate with the value of the article offered, he may reject the same and withdraw the item from the auction, and having acknowledged an opening bid, he decides that an advance is not sufficient, he may reject the advance. Auctioneer reserves the right to bid on behalf of Buyer/Seller/Secured parties. 3. Ownership title passes upon the fall of the Auctioneer's gavel, and thereafter the property is at risk of the buyer and neither the seller, nor the auctioneer shall be responsible for loss or damage. 4. Every item is sold "As Is, Where Is". It is the bidder's responsibility to determine the exact condition of each item. 5. Neither the auctioneer nor the seller makes any warranties or representations of any kind or nature with respect to said property. All sales are final and no sale shall be invalidated. 6. Catalog descriptions are for simple identification purposes only, no representations are made to the authenticity, age, origin or value. Buyer relies solely on his/her own judgment when bidding. The auctioneer and seller make no warranties or guarantees, expressed or implied. Please take advantage of previews to inspect items. All sales are final. 7. All purchases shall be paid in full by close of auction and removed within the prescribed time. Successful internet bidders will be notified by Email within 24 hours of auction ending. Internet bidders payment must be received within 24 hours upon receipt of their email notification to pay for their items. 8. Purchasers are solely responsible for all costs involved with shipping and removal of their purchases & any and all damages incurred during removal of purchases. It is the buyers responsibility to secure all safety equipment to meet all applicable government safety standards in using or removing items purchased. The auctioneer may require proof of adequate insurance from the purchaser. 9. In the event the purchaser fails to pay for the entire purchase within the time set forth by the auctioneer, and/or fails to comply with any of the conditions or terms of sale, the seller may retain and/or recover any monies paid as part of its damages and, in addition thereto, items that are not paid for can be resold at public or private sale without further notice. 10. Any deficiency resulting from such resale shall be due to the auctioneer by the defaulting purchaser together with all charges, fees and expenses including reasonable attorney fees incurred by such resale and enforcement of the obligation here under. All sales are final. 11. The highest approved bidder to be the buyer. In all cases of disputed bids, the property may be resold, but, auctioneer will use his judgment as to good faith to all claims and his decision is final. Where a lot has a stated quantity that is more than 1(one), the bid shall be multiplied times the quantity to determine the total cost of the lot. 12. All bidders are required to register and give full identification and establish credit with the auction company prior to the beginning of the auction. Register early to assure your approval for bidding at the auction. Auction registration must be made at least 48 hours before auction starts. Note: To supply your credit information by telephone please call (618)234-8751. 13. Should a dispute arise after the auction, auctioneers records shall be conclusive in all respects. 14. This is a privately owned and operated auction. We reserve the right to refuse admittance to any person(s). No transfer will be recognized from one buyer to another. 15. Bidder agrees to pay any and all charges and expenses incurred by reason of any breach of terms & conditions of auction or in case of default, including, without limitation, reasonable attorney's fees, as well as any dollar deficiencies which may result in the resale of the property, and the cost of re-marketing said property. Additional commissions shall be due and payable. 16. The auctioneer reserves the right to withdraw any lot at any time prior to the time of sale of such lot. 17. By bidding on any item, the bidder shows acceptance of the terms of the auction. 18. The above stated Terms & Conditions of Auction cannot be altered except in writing by all parties of the contract, or by verbal changes to terms given by Auctioneer at time of auction. 19. The auctioneer may break down or consolidate any lot or lots at his sole discretion. 20. Bidder does hereby indemnify and hold harmless Auctioneer and Seller from any and all damages, claims, or liabilities from injuries to persons or property of any type whatsoever, caused before, during, or after the auction. 21. A bidder is deemed to have accepted an item when making a bid. No bidder shall retract their bid. Online bidding during the Live Auction is a fast process, and therefore there may be no confirmation given - bids will be taken immediately and are irrevocable. 22. Final bids are subject to the owner/sellers approval. There is a 10% Buyer's Premium added to the winning bid amount. Please review each property for that buyer's premium. 23. Earnest money deposit of $50,000.00 will be required 24 hours after auction closes and/or seller acceptance of highest abid. Call 618-234-8751 for wiring instructions. Deposit must be of the amount down day of sale on Real Estate. Balance due in 30 days. There is a 10% Buyers Premium on the property. Which means that 10% of winning bid price will be added to high bid on the sale of property. --------------------------------------------- ------------------------------------------ Terms Of Use

Seller User Terms

Bidder User Terms
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 100,000.00 1,000.00 USD
100,000.01 - 9,999,999.99 1,000.00 USD
Currency USD
Buyer Premium 10% Buyers Premium
Payment Terms
Terms: $50,000 Downpayment on Real Estate; Balance Due in 30 Days; 10% Minimum Buyers Premium; Any announcement made day of sale takes precedence over any printed material; List subject to change without notice. Final bids are subject to owners/sellers approval. Successful bidder will be required to sign an Auction Sale and Purchase Contract. ALL OUT OF STATE BIDDERS: A $1,500 HOLD MUST BE PLACED ON A VALID CREDIT CARD FOR YOUR BIDS TO BE APPROVED. Please contact our office at 618-234-8751 to set up the required hold.
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