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City of Centralia·Illinois

Surplus Property

Closes 10/27/2025$10k – $100kInvitation for Bid
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Description

The City of Centralia, Illinois is disposing of four parcels of surplus real‑estate (926 N Poplar, 615 N Hickory, 1335 S Locust, 435 S Hickory) through a sealed‑bid, cash‑only sale. Interested parties must submit written, sealed bids with a 10 % earnest‑money deposit by 10:30 a.m. on October 27 2025. Bids will be opened at 6:00 p.m. the same day, and the award will be announced on November 10 2025 (or later). The city will convey the property via quit‑claim deed with no title insurance; the sale is “as‑is,” and the buyer assumes all title risk, utilities, easements, and compliance responsibilities. Minimum bid for each parcel is $2,500, but the final purchase price is determined by the highest qualified bid. • Four distinct parcels are available, each with its own legal description and parcel number. • Required bid content: bidder’s name, address, phone, legal description, parcel number, total purchase price; parcel number must appear on the envelope. • Earnest money equals 10 % of the bid amount, refundable if the bid is rejected and applied to the purchase price if accepted. • No title insurance or warranties; buyer assumes “as‑is” risk and must bring the land into compliance. • All bids are sealed and submitted to the City Clerk’s office at 101 S. Locust, Centralia, IL 62801.

Attached files

Key dates

Opened
9/9/2025
Closes
10/27/2025
Projected award
11/10/2025

Last updated

Details

Type
Invitation for Bid
Industry
Real Estate
NAICS
531311

Budget estimate

$10,000 – $100,000

The opportunity is a land acquisition, not a service contract, so “payment” is the purchase price the buyer must pay. However, a developer could realize profit by developing or reselling the parcels. Assuming modest development or resale, profit margins might range from 10 % to 30 % of the purchase price. With minimum bids of $2,500 and typical market values for vacant lots in Centralia ranging from $10,000 to $100,000, a realistic profit window could be roughly $10,000 on the low end (small lot, modest improvement) up to $100,000 on the high end (larger, well‑located parcels with development potential).

AI estimate from the solicitation

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