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1169 W Madison Street , 1W

Chicago, IL 60607
  • $549,900
  • STATUS: Active Under Contract
  • ON SITE: 455 Days
  • MLS #: 10849931
Under Contract
$549,900
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 1,100
    SQFT
  • $500
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
2005
County:

School Ratings & Info

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.

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© 2021 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Schoon Family Group with Keller Williams Elite. Based on information submitted to the MRED as of 2021-12-07T23:58:21.743 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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1169 W Madison Street , 1W Chicago, IL 60607

  • Price: $549,900
  • Status: Active Under Contract
  • On Site: 455 Days
  • MLS #: 10849931
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1,100
SQFT
$500
$/SQFT
2005
Built
Neighborhood:
Chi - Near West Side
County:
Cook
Area:
Chi - Near West Side
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.
Exterior Features

Frontage Type City Street Parking Total 0

Interior Features

Cooling Central Air Flooring CarpetWood Heat Ventilation Forced AirGas Number Of TLDocks 0

Property Features

Additional Parcels YN No Building Area Total 1100 Contingency Attorney/Inspection Continue To Show Yes Electric Service - 101 To 200 Amps Fire Protection None Gross Income 44400 Gross Scheduled Income 44400 Leasable Area 1200 Net Operating Income 35054 Number Of Tenants 1 Operating Expense 0 Property Offered For Sale Only Property Sub Type Neighborhood Storefront Tax Annual Amount 7876 Tax Year 2018 Tenant Pays ElectricityHeatVaries By Tenant Total Monthly Income 3700 Township West Chicago Type Retail/Stores Zoning Commr

Listing information © 2021 Midwest Real Estate Data LLC.
Listing provided courtesy of Quest Realty Group Llc.


© 2021 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Schoon Family Group with Keller Williams Elite. Based on information submitted to the MRED as of 2021-12-07T23:58:21.743 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Digital Millennium Copyright Act
 
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Schoon Family Group with Keller Williams Elite
4544 W 103rd St, Third Floor
Oak Lawn IL, 60453