$535,000
$535,000
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1,100 SqFt
SOLD DATE : 01/15/2025
Key Details
Sold Price $535,000
Property Type Commercial
Sub Type Retail/Stores
Listing Status Sold
Purchase Type For Sale
Square Footage 1,100 sqft
Price per Sqft $486
MLS Listing ID 12271740
Sold Date 01/15/25
Year Built 2005
Annual Tax Amount $12,925
Tax Year 2023
Lot Dimensions COMMON
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. ***$535K PURCHASE PRICE, $150K DOWN, $385K SELLER FINANCED FOR 0% FOR 30 MONTHS***NOI OF $35,054. AT THE END OF 30 MONTHS, BALANCE WOULD BE ROUGHLY $250K & 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
Zoning COMMR
Interior
Cooling Central Air
Flooring Carpet, Wood
Fireplace N
Exterior
View Y/N true
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© 2025 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Bought with Jason Vondrachek • Quest Realty Group LLC
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "