600 Norman Street, Utica, IL, USA

CLOSED:  Cell At Auction, LLC is pleased to offer the opportunity to acquire two 99-year site lease easements in Utica, IL.   The SBA site lease was entered into in April, 2005 with Nextel West Corp.   The initial term was for 5 years with 5 (five) year renewal terms.   The initial rent was $1,400/month with 3% annual increases.   The current monthly rent is $2,246.57 and the current tenants are T-Mobile and Verizon.   The Vertical Bridge lease was originally entered into with Illinois Valley Cellular in 2006.   The initial rent was $1,000 monthly with 3% annual increases for a term of five years.   There are 4 (five) year renewal terms.   The current monthly rent is $1,525.64 and the current tenant is Illinois Valley Cellular.   There are no ROFR’S on either site.   Offers should be submitted in the form of an executable Letter of Intent and request that offers include marketing rights for a city owned water tower located at Exit 81-IL-178; Utica-Interstate I-80 Eastbound in Illinois and a revenue share opportunity for the site easements and water tower on an 80-20 basis (80% to Utica).  The water tower address is 823 E. US Hwy 6, Utica, IIL 61373.   The next rent increase for Vertical Bridge will be in August, 2022 and for SBA in July 2022.  Offers may be presented as the purchase of each site lease individually or collectively.  Utica, IL is a village in LaSalle County, IL  The current combined annual revenue is $45,266.52