Cascade Village Building Sealed Auction

REAL ESTATE AUCTIONS

AU C T I O N Sealed Bid | Deadline January 3, 2013

CASCADE VILLAGE BUILDING 1 3 1 0 W E S T H AV E N D R I V E VAIL, COLORADO 81657 LHREALESTATEAUCTIONS.com

LOCATION

Existing Building

Located in the Cascade Resort complex along the

Constructed in 1981-83, the existing Cascade Village

western flank of Vail ski mountain, the Cascade Village

Building consists of a total of 18 condominium units.

Building is part of the Vail Cascade Resort & Spa

On the west side of the building are eight individually

complex, which consists of a four-diamond full-service

owned residential units (all second homes). There are

292-room hotel with restaurants and conference

nine commercial units, including the spaces formerly

facilities, surrounded by several resort condominium

housing Colorado Mountain College, the former Cascade

complexes and homes. The Cascade Village Building

Village Theatre, and a vacant restaurant space. Unit

is situated between the Vail Cascade Hotel and the

D-001 (owned by Cascade Hotel) is the loading dock

Aria Spa & Club. Travel + Leisure recently named Vail

with shared usage for the Cascade Village Building and

Cascade Resort & Spa to its list of “World’s Best Family

the Vail Cascade Resort. Of the nine commercial units

Resorts,” citing the fitness and spa facility, as well as

we are auctioning eight jointly: three units on the lowest

the on-site chairlift as desirable amenities. The Cascade

level, one large unit on the first floor, three units on the

Village Building is connected by sky bridges to both

second floor, plus the fourth floor. The eight units

the Hotel and Spa/Club/Parking buildings. Immediately

(per the existing condominium documents) total

adjacent to Vail Cascade Hotel, Chairlift #20 provides

22,360 square feet.

direct ski access to and from Vail Mountain.

ENTITLEMENTS The Cascade Village Building is approved by the Town of Vail, for the construction of 14 luxury residential condominiums (totaling 31,000 square feet) with direct ski-in, ski-out access and full resort hotel amenities. The approvals also allow for approximately 5,000 square feet of office/commercial space. These entitlements are in place through June 2015.

MAP OF CASCADE ENCLAVE

MAP OF CASCADE ENCLAVE MAP OF CASCADE ENCLAVE

LIONSHEAD LIONSHEAD

PROPOSED EVERVAIL RESORT PROPOSED AND GONDOLA EVERVAIL RESORT AND GONDOLA

1 2 3

CASCADE CASCADE ENCLAVE ENCLAVE

Cascade Village Building 1 Cascade Village Building

Chair220,Chair Cascade VillageVillage Lift Lift 20, Cascade Cascade Village Vail Cascade Resort Ski Building Valet 3 1 Vail Cascade Resort Ski Valet

Chair 20, Cascade Village 4 2Vail Resort Lift Ticket Office Lift 4 Vail Resort Lift Ticket Office

5

3 Vail Cascade Resort Ski Valet

5 Sports, Charter Sports, ski &rentals bike rentals Charter ski & bike VailSpa Resort Lift Ticket Office 6 4Aria & Club

6 Aria Spa & Club Sports, ski and bike rentals 5 Charter 7

Aria Spa & Club outdoor heated pool & hot tub

8

Aria Spa & Club indoor tennis court

7

Aria Spa & Club 6 Aria Spaoutdoor & Club heated pool & hot tub

8

7 Aria Spaindoor & Clubtennis outdoor heated pool and hot tub Aria Spa & Club 9 Aria Spa & Club outdoor court tennis court

8 Aria Spa & Club indoor tennis court 9 Aria Spa & Club Village outdoor tennis court 10 Cascade Cafe & Market 9 Aria Spa & Club outdoor tennis court 10 Cascade VillageBar Cafe & Market 11 Fireside & Lounge 10 Cascade Village Cafe and Market

12 11Chop’s Grill & Chophouse 11 Fireside Bar & Lounge Fireside Bar and Lounge 13 12 Vail Cascade outdoor heated pool & hot tub Atwater onResort Gore Creek 12 Chop’s Grill & Chophouse 14 Vail Cascade Resort Conference Center

13 Vail Resort Cascade Resort outdoor heated pooltub and hot tub 13 Vail Cascade outdoor heated pool & hot

15 14Vail Cascade Resort & Spa covered parking Vail Cascade Resort Conference Centergarage

14 Vail Cascade Resort Conference Center

16 15Vail Sports Medicine Physical Vail Cascade Resort & SpaTherapy covered parking garage

15 Vail Cascade & Spapath covered Vail Resort Sports Medicine Physical Therapy 17 16Biking and walking to Vailparking Village &garage Lionshead

16 Vail Sports Medicine Physical Therapy Biking andtrout walking path to Vail Village and Lionshead 18 17Gold medal fishing in Gore Creek 18 Gold medalpath trout in Gore&Creek 17 Biking and walking tofishing Vail Village Lionshead

18 Gold medal trout fishing in Gore Creek

1

1

In Detail Square Footage

22,360 square feet per Eagle County Assessor

Entitlements

Development approved and assignable 36,000 square feet for 14 luxury condominiums and commercial space

Building Structure

Concrete, Steel, Stucco

Roofing

Asphalt and Stone

Common Use Access

Loading Dock, Building Elevator, Common Areas

HOA

Fees include access, maintenance and insurance for common areas, all utilities, right by use 69 unassigned parking spaces, snow removal, trash collection

Current Amenities

2 Theaters with stages (seating capacity 75 and 275), working concession stand, dance studio, men’s and women’s locker rooms

Listing Agent

Leslie Hindman Real Estate Auctions EL#100040328

Broker

Susan Bird ER#1191525

Points of Interest • Located with in the four diamond Vail Cascade Resort & Spa • Chairlift #20 provides direct ski-in, ski-out access to Vail Mountain • Directly adjacent to future Ever Vail Development • World Alpine Ski Championships will be held in Vail in 2015

Terms of Sale Auction

Sealed Bid Deadline January 3rd 2013

Showings

12 pm - 6 pm December 26th 2012 - January 2nd 2013 (or by private appointment)

Terms of Sale

Sold As Is, Where Is. The Terms of Sale are listed in the Property Information Package.

Buyer’s Premium

A 10% buyer’s premium will be added on to the winning bid.

Bidding Requirements

All prospective bidders must complete a registration form and sign the conditions of sale.

To submit a sealed bid, a deposit of $100,000 into an escrow account held by Land Title Guarantee Company. This can be in the form of electronic transfer, certified check, check with a Bank Letter of Guarantee, or cashier’s check.

Winning Bid Deposit

The winning bidder agrees to make a deposit of 10% of the final sale price on the day of the auction. The deposit is non-refundable should the buyer fail to close within 30 days.

Broker’s Participation Broker Participation is invited. A licensed Colorado Broker will receive a commission of 3%

of the winning bid price.

Scott M. Thompson | President PH: 312.334.4205 fx: 312.280.1211 scottthompson@lesliehindman.com Susan M. Bird | Managing Broker PH: 970.376.3233 fx: 970.476.2183 susanbird@lesliehindman.com INQUIRIES LHRealEstate@LeslieHindman.com 312.280.1212

LHREALESTATEAUCTIONS.com The information included herein is not guaranteed; no investigation or review has been made to its accuracy; some information provided may be from outside sources. This information is not certified as accurate by the Seller, Broker or Auctioneer, or any of their affiliates.

All information contained herein is subject to corrections, errors and omissions. This property is subject to prior sale and may be withdrawn, modified or cancelled without notice at anytime.

REAL ESTATE AUCTIONS