Owner Financing 13 unit Chicago

kitchen-225x300 7800 S Ashland Chicago, IL 60620- 12 Units, borrower owes $50,000 in back taxes, property goes to auction July 2013. Building is in housing court for violations. Only 3 of 12 units are occupied. Estimated value $300,000 Estimated Repairs: $60k

Asking Price is $130,000, can finance with 30% down for 2 years

Frequently Asked Questions:

Any idea of total work required?  Violations, city wants electrical updated for 2 commercial spaces,

# of units move in ready? ( 8 )Most are ready, maybe some paint and kitchen cabinets and sinks

# of units need work? Commercial space next to store was hot dog stand, needs work

Roof, porch, mechanicals plumbing, electric, intact and condition? Individual heat, 2 electric water heaters,

Building violations?  Porches look decent but see splitting in some risers. u can pull report online ( owner estimates $30k)

Tax redemption date? July 2013

Unit beds/ mix/rent roll? 6 2 beds, 4- 4beds

Any rented and paying?  3—- 650+450+750(store)=$1850

# of evictions needed? NO

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