Address
15 S Racine Avenue # 1N Chicago, IL
Price
$ 400,000
Property Attributes
  • MLS#10849920
  • TypeContingent
  • CountyCOOK
  • CityChicago
  • AreaCHI - Near West Side
  • NeighborhoodNear West Side
  • Zip60607
  • Style
  • Year Built2009
  • Taxes$ 7164
  • Price$ 400,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage1150
  • Lot Size6,000 SqFt
Listing Provided Courtesy Of:
Quest Realty Group LLC
Data Source:
Midwest Real Estate Data (MRED) - 103 - IL
Property Description

ZERO LANDLORD RESPONSIBILITY AND 0% SELLER FINANCED OPPORTUNITY IN ULTRA PRIME WEST LOOP. JUST SOUTH OF MADISON/RACINE STOPLIGHT INTERSECTION. 6.72% 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 $24,016. 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.

Price History
9/8/2020 Listed $400,000

General Features

Additional Parcels Y/N No
City Chicago
Contingency Attorney/Inspection
Cooling Central Air
County Cook
Days on Market 330
Directions JUST SOUTH OF THE MADISON/RACINE INTERSECTION. EAST SIDE OF THE STREET.
Electric Circuit Breakers
Flooring Wood
Leasable Area 1150
Lot Size Square Feet 6000
MLS Area CHI - Near West Side
Net Operating Income 24016
Property Type Retail/Stores
Property Type Commercial Sale
Standard Status Active Under Contract
Status Contingent
Stories 1
Street Name Racine
Tax Annual Amount 7164
Tax Year 2019
Tenant Pays Air Conditioning, Common Area Maintenance, Electricity, Heat, Taxes, Sewer
Total Units 1
Unit Number 1N
Year Built 2009

Interior Features

Street Suffix Avenue

Exterior Features

Building Area Total 1150
Buyerofficefax (312) 873-4455
Lot Dimensions COMMON

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Contingent Average in 60607

Price
AVG $680K
$400K
Taxes
AVG $9,083
$7,164
Visits
AVG 40
370
Year Built
AVG 1986
2009
Walkscore
AVG 89
96
Data Provided by Walkscore ® not using MLS data