15 S Racine Avenue #1N Chicago, IL 60607
UPDATED:  
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400000
/mo

-1Bed

-1Bath

-1SqFt

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Key Details

Property Type: Commercial

Listing Status: Active

Purchase Type: For Sale

Year Built: 2009

MLS Listing ID: 10849920

Property Description

ZERO LANDLORD RESPONSIBILITY AND 0% SELLER FINANCED OPPORTUNITY IN ULTRA PRIME WEST LOOP. JUST SOUTH OF MADISON/RACINE STOPLIGHT INTERSECTION. 5.63% CAP W/22.2% LEVERED ANNUAL RETURN DURING 0% SELLER FINANCING PERIOD. ***$400K PURCHASE PRICE, $100K DOWN, $300K SELLER FINANCED FOR 0% FOR 30 MONTHS***NOI OF $22,548. AT THE END OF 30 MONTHS, BALANCE WOULD BE ROUGHLY $244,500 & SELLER WILL CONTINUE TO CARRY FINANCING AT 6% BEYOND THE 30 MONTH PERIOD. SELLER WILL CONTINUE TO MANAGE, ERGO ZERO LANDLORD RESPONSIBILITY. REAL ESTATE OFFICE HAS OCCUPIED THE SPACE FOR 11+ YEARS. OTHER SPACES AVAILABLE WITH SIMILAR TERMS IN WEST LOOP, WICKER PARK & LAKEVIEW. TENANT PAYS ALL UTILITIES AND THEY ARE SEPARATELY METERED FOR THE SPACE.

Location

State: IL

County: Cook

Area: Chi - Near West Side

Interior

Heating: Forced Air,Gas

Cooling: Central Air

Flooring: Wood

Building

Story: 1

Lot Dimensions: COMMON

Others

Senior Community: No

Tax Amount: $7,164

Tax Year: 2018

Tax ID: 17172010471001

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Listing provided by  Quest Realty Group LLC

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