15 S Racine Ave - Storefront Retail/Residential CONDO FOR SALE


Chicago, IL 60607- West Loop
$400,000 USD
312-342-9655
15 S Racine Ave, Chicago, IL for Sale
$400,000 USD
Storefront Retail/Residential CONDO - FOR SALE
1/1
null | 6% Cap Rate

15 S Racine Ave
Chicago, IL 60607
West Loop


HIGHLIGHTS

  • 5.63% CAP w/0% SELLER FINANCING MAKES A 22.2% LEVERED RETURN IN 0% PERIOD
  • Zero Landlord responsibilities
  • Ultra Prime West Loop with tenant of 11+ years

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$400,000 USD

PRICE/SF

$333 USD /SF

CAP RATE

6%

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

15 S. Racine #1N

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

ADD'L SUBTYPES

undefined, Storefront

TOTAL BUILDING SIZE

20,000 SF

STORIES

5

BUILDING CLASS

A

YEAR BUILT

2009

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

Dx3

APN/PARCEL ID

17-17-201-047-1001,17-17-201-047-1009

ASK ABOUT THIS PROPERTY

Jason VondrachekQuest Realty GroupMore Info
312-342-9655

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Jason VondrachekQuest Realty GroupMore Info
312-342-9655

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.