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15 S Racine Ave - 15 S. Racine #1N 1,200 SF Retail Condo Unit Offered at $548,000 CAD in Chicago, IL 60607
Investment Highlights
- 5.63% CAP w/0% SELLER FINANCING MAKES A 22.2% LEVERED RETURN IN 0% PERIOD
- Ultra Prime West Loop with tenant of 11+ years
- Zero Landlord responsibilities
Executive Summary
ZERO LANDLORD RESPONSIBILITY AND 0% SELLER FINANCED OPPORTUNITY IN ULTRA PRIME WEST LOOP. JUST SOUTH OF MADISON/RACINE STOPLIGHT INTERSECTION. 6.7% 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 $24,051. 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.
1 Unit Available
Unit 1n
| Unit Size | 1,200 SF | Sale Type | Investment |
| Price | $548,000 CAD | Cap Rate | 6.00% |
| Price Per SF | $456.67 CAD | NOI | $32,893.70 CAD |
| Condo Use | Retail |
| Unit Size | 1,200 SF |
| Price | $548,000 CAD |
| Price Per SF | $456.67 CAD |
| Condo Use | Retail |
| Sale Type | Investment |
| Cap Rate | 6.00% |
| NOI | $32,893.70 CAD |
Property Facts
Major Tenant Information
| TENANT | SF Occupied | LEASE END DATE |
|---|---|---|
| Quest Realty Group |
1,250 SF
|
June 2024
|
Nearby Major Retailers
Presented by
15 S Racine Ave - 15 S. Racine #1N
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