Niles’ Clark station part of bankruptcy sale
Published 6:03 am Thursday, May 29, 2003
CHICAGO -- National Real Estate Clearinghouse (NRC) is coordinating the sale of up to 630 convenience stores and gasoline stations for Clark Retail Enterprises Inc. of Oak Brook, Ill.
The Clark gas station and convenience store at 17th and Oak streets in Niles is part of the bankruptcy sale.
The stores will be sold through a sealed bid sale in a "buy one, some or all" format. A list of stores is available online at www.nrcBid.com/305, or by calling 800-747-3342, extension 305.
Clark operates in nine states: Illinois, Indiana, Ohio, Michigan, Kentucky, Tennessee, Iowa, Wisconsin, and Missouri. The company voluntarily filed for Chapter 11 bankruptcy on October 15, 2002, and is conducting a structured sale of all of its assets in order to maximize value for the Clark estate.
NRC is currently preparing a color sales brochure and individual due diligence packages for each property, which contain store level information and bidding terms of sale.
Individual bid packages for each store should be ready on or about May 30.
NRC will conduct six How-To-Bid Seminars: June 10 in Chicago at the Westin O'Hare at 10 a.m. and in Indianapolis at the Adams Mark at 7 p.m. June 11 in Louisville, Ky., at the Executive West at noon; June 12 in Cleveland at the Sheraton Airport Hotel at 10 a.m.; June 13 in Detroit at the Westin Airport Hotel at 10 a.m.; and June 18 in Springfield, Ill., at the Renaissance Hotel at 1 p.m.
All interested parties are encouraged to attend to learn more about the sale.