Description
This public notice announces the City of Wilmington’s sale of approximately 17,780 sq ft of land at 908 & 922 N Front St. The property is being sold “as‑is” with no warranties, and the City has an existing baseline offer of $1,157,000. Interested parties may submit a sealed, qualifying upset‑bid that must exceed the baseline by the statutory increment (10 % of the first $1,000 plus 5 % of the remainder). Bids, accompanied by a 5 % deposit, must be delivered in person to the City Clerk by 3 PM on October 17, 2024. The highest qualifying bid will become the new offer; the City Council must approve it within 45 days, after which a contract is signed and must close within 30 days of the effective date. The buyer assumes all risks, must obtain a survey, and will receive a Special Warranty Deed at closing.
• Property: ~0.41 acre, waterfront‑adjacent, no improvements listed.
• Financial: Baseline $1,157,000; required bid increment ≈ $58,350 (example). 5 % deposit required.
• Process: Open upset‑bid, in‑person delivery, City Council approval, 30‑day closing window.