Owner Financed Properties For Sale

More details for 15 S Racine Ave, Chicago, IL - Retail for Sale

15 S. Racine #1N - 15 S Racine Ave

Chicago, IL 60607

Owner Financed Property
Retail for Sale
$561,824 CAD
1,200 SF
1 Unit Available

Chicago Retail for Sale - Fulton Market/Near West Side

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.

Contact:

Quest Realty Group

Property Subtype:

Storefront Retail/Residential

Date on Market:

2020-05-26

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