1169 W Madison Street #1W Chicago, IL 60607
UPDATED:  
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549900
/mo

-1Bed

-1Bath

-1SqFt

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Key Details

Property Type: Commercial

Sub Type: Neighborhood Storefront

Listing Status: Active

Purchase Type: For Sale

Year Built: 2005

MLS Listing ID: 10849931

Property Description

ZERO LANDLORD RESPONSIBILITY AND 0% SELLER FINANCED OPPORTUNITY IN ULTRA PRIME WEST LOOP. SE HARD CORNER AT MADISON/RACINE. 6.37% CAP W/23.2% LEVERED ANNUAL RETURN DURING 0% SELLER FINANCING PERIOD. ***$550K PURCHASE PRICE, $150K DOWN, $400K SELLER FINANCED FOR 0% FOR 30 MONTHS***NOI OF $35,054. AT THE END OF 30 MONTHS, BALANCE WOULD BE ROUGHLY $313K & SELLER WILL CONTINUE TO CARRY FINANCING AT 6% BEYOND THE 30 MONTH PERIOD. SELLER WILL CONTINUE TO MANAGE, ERGO ZERO LANDLORD RESPONSIBILITY. CHIROPRACTOR HAS OCCUPIED THE SPACE FOR 12+ YEARS WITH A VERY SPECIFIC & EXPENSIVE BUILDOUT. 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

Zoning: COMMR

Multi-Unit Info

Existing Lease Term: Gross

Interior

Heating: Forced Air,Gas

Cooling: Central Air

Flooring: Carpet,Wood

Building

Story: 1

Lot Dimensions: COMMON

Others

Senior Community: No

Tax Amount: $7,876

Tax Year: 2018

Tax ID: 14083100020000

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Listing provided by  Quest Realty Group LLC

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