Highlights

• Seller Financing of $65k (5% of PP) at 4% for 1 yr!! 30 yr amort. Balloon.
• Guaranteed Office/ Retail Rents for 1 yr FROM CLOSING if vacant (seller leaseback poss.)!!

• 2008 Final Tax Received 11/1/09 $9,065.01

Description

Hot Logan Square Prime corner location off Fullerton and Sawyer. RARE 16 space "7th unit" parking lot always in demand, especially for winter. MTM rents for parking rental upside. Raise pkg rents before the snow!

BUY NOW WHILE INTEREST RATES ARE HISTORICALLY LOW!!

Great Cashflow & Net Operating Income ($88k NOI at 5% vacancy & 5% R&M + Mgmt). 4 large apartments with vintage wood & glass built ins. Pocket doors. Hardwood floors. 2 new GFA furnaces; some new appliances. 2 office/ retail units built out as Office space including kitchens and bathrooms - RETAIL/ OFFICE RENTS GUARANTEED for 1 yr (if vacancy/ seller leaseback) for FULLY OCCUPIED rent. Basement with coin op laundry, tenant storage lockers, owner workshop & separate owner/ retail storage areas. Tenants pay all utilities except water & sewer. Free city garbage pickup. Separate meters. Cosmetic upgrades will greatly enhance this cash cow. Rental upside. Easy 6 unit to manage. On site manager.

Loan not assumable, but current bank may finance new Buyer. Potential Seller Carryback of 5% for qualified Buyer for 1 yr.

Truly a "NO BRAINER" cashflow deal. Condo conversion candidate. 1031 Exchange before year end.

C1-2 Zoning !!
Kedzie mansions/ boulevard 1/2 block away.
Logan & Palmer Squares & parks walkable.
Blue line only 2 blocks.
Public transportation right out your front door at Fullerton. ZIP cars in parking lot. Expressway approx. 1 mile.
This is the NEXT BUCKTOWN/ WICKER PARK! Artisan & Yuppie Central.

Attachments

• Enhanced Listing Web Site