15 S Racine Ave Chicago, IL 60607
Commercial space in West Loop with seller financing opportunity.
Type:Retail, Office
Property size:
1,150 SF- Added:
- May 26, 2020
- Days on Market:
- 2156
- Last Refresh:
- Mar 17 at 1:13 pm
Property Features for 15 S Racine Ave
General Information
- Standard status
- Active
- Size
- 1,150 SF
- Property subtype
- Retail, Office
Building Details
- Year Built
- 2009
Listing agent Jason Vondrachek License #471.007493
Listing office Quest Realty Group
Listing date May 26, 2020
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Quest Realty Group
Overview
West Loop Commercial Space Available
Located in the West Loop, just south of the Madison/Racine stoplight intersection, this commercial space offers an opportunity with seller financing. The property has a 6.72% capitalization rate with a 22.2% levered annual return during the 0% seller financing period. The purchase price is $400,000, with $100,000 down and $300,000 seller financed at 0% for 30 months. The net operating income is $24,016. At the end of the 30-month period, the balance would be approximately $244,500, and the seller will continue to carry financing at 6% beyond the initial period. The seller will continue to manage the property. The real estate office has occupied the 1,150 square foot space for over 11 years. The tenant pays all utilities, which are separately metered for the space. Other spaces are available with similar terms in West Loop, Wicker Park, and Lakeview.
Location Intelligence
Current Use by Public Records
Skin By Zana
Spa & Massage Center
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6567925
- Latitude
- 41.8810573
Nearby Similar for Sale
FAQs
What type of property is this?
Office units - Commercial space in West Loop with seller financing opportunity.
Where is this office units located?
The property is located at 15 S Racine Ave Chicago, IL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 0% Seller Financing Available for 30 Months; Zero Landlord Responsibility (Seller Manages); Attractive 6.72% Cap Rate
