TRACT 1: +/- 19.038 AC with Road Frontage on the Gulf Freeway and Big League Dreams Parkway.
TRACT 2: +/- 67.79 AC with Road Frontage on the Gulf Freeway and Big League Dreams Parkway. Note: This Tract May be Subdivided and Offered in Smaller Parcels.
TRACT 3: +/- 9.233 AC Lies Along the Planned Expansion of Grand Parkway/99.
Each Tract are Identified as Commercial & Mixed Use Districts According to the City of League City, Article III Zoning Regulations which allows for Neighborhood Commercial, General Commercial, Commercial Office & Commercial Mixed Use. Residential Use is Available for Small Residential Care Facilities, Residential Care Rooming Facilities & Residential Care Apartment Facilities. Multi-Family & Single Family Residential Use is Permitted, Subject to Certain Limitations Prescribed by the Additional Use Regulations in Article IV, Division I of the Zoning Regulations Which is Included in the Property Information Package.
The Properties will be Sold in a Multi-Parcel Auction at the Hilton Houston Hobby Airport Hotel Ballroom. Tract 2 may be Further Subdivided into Smaller Parcels Creating Additional Tracts. At the Auction, Each Individual Tract will be Offered for Bidding. Next, Bidders will have the Opportunity to Bid on any Combination of Tracts or All of the Tracts as a Whole. This process will continue between the Individual Tract Bidders and the Combination Tract Bidders to arrive at the Final Sales Price.
*The Auction Date of May 19, 2011 and time of 11:00 AM is Subject to Approval of the U.S. Bankruptcy Court, Southern District of Texas. The hearing to confirm the date and time is set for the third week in April.
TX AUC LIC #11818