Request for Proposals for Property Acquisition
Galesburg Public Library
Dated January 5, 2012
Submissions due by 5 PM, January 25, 2012
The Galesburg Public Library Board of Trustees is seeking to purchase all privately owned real estate in the 200 block of West Main Street south of Main Street, in order to eventually construct a new library building on the site.
In furtherance of this objective, the Board expects to hire a buyer's representative to perform the following tasks:
1. Meet with a committee of Trustees to identify target properties and develop
a strategy for purchasing the properties based on availability of funds, seller's
needs and any other factors that might bear on the transactions.
2. Help the committee arrive at an offering price for each property utilizing
the tools and knowledge of a person well versed in real estate transactions.
3. Negotiate with the seller to consummate the transaction at a fair price for both
parties.
4. Prepare the necessary documents for each step of the process, culminating in
a clear title in favor of the Galesburg Public Library Board of Trustees.
5. Suggest local professionals to handle title search, appraisals or other services as
needed.
Potential buyer's representative will propose a fee arrangement that will allow the Trustees to calculate the estimated cost of providing the above services for each of the properties. The fee arrangement must be based on a formula for fees and expenses in lieu of realtor commission.
All property owners were contacted by letter in January of 2010 expressing the Trustees' potential interest in their property. Some were followed up by phone calls. There was no resistance to selling encountered at that time.
The Library Board of Trustees reserves the right to reject any or all proposals submitted in response to this RFP.
All submissions are due by 5 PM, January 25, 2012 and should be submitted to the attention of Harriett Zipfel at the following address:
Galesburg Public Library
40 E. Simmons St.
Galesburg, IL 61401