Description
This municipal contract announces the sale of approximately 17,780 sq ft of City‑owned land located at 908 & 922 N Front Street, Wilmington, NC. The City has an existing baseline offer of $1,157,000 and invites qualified higher upset bids that must exceed the baseline by a statutory increment (10 % of the first $1,000 plus 5 % of the remainder). Bids must be sealed, submitted in person to the City Clerk by 3 PM on October 17 2024, and include a 5 % deposit. After bid opening, the highest qualifying bid is presented to the City Council, which must approve the award within 45 days. Upon approval, an “Offer to Purchase and Contract” is executed; the buyer must close within 30 days of the contract’s Effective Date, taking possession immediately. The sale is “as‑is,” with the buyer responsible for surveys, title work, and any environmental assessments. No broker representation is involved.