THE REAL ESTATE MARKET IS SLOW, THE STOCK MARKET IS IN THE DUMPS, (OIL & GAS PRICES ARE FINALLY DROPPING!), BUT THIS BUILDING HAS BEEN STABLE FOR YEARS! THE RENT ROLL AND RENTAL HISTORY SHOWS THAT!
EXPERTS SAY "NOW IS THE TIME TO BUY!" AND THE OWNERS ARE WILLING TO HELP WITH CREATIVE FINANCING, BUT NO LAND CONTRACTS! THIS IS YOUR OPPORTUNITY, IF YOU DON'T, SOMEONE ELSE WILL........ SO IT'S UP TO YOU NOW.......
THIS 213,000 SQ. FT. BUILDING HAS BEEN APPRAISED BY A CHICAGO FIRM AT $3,875,000! WITH A 8.07% CAP RATE! THE OWNERS ARE WILLING TO ACCEPT $2,975,000! A $900,000.00 PRICE REDUCTION! WITH ROOM FOR YOUR BUSINESS!!!
THIS IS A MULTI-TENANT, FLEX-SPACE, MULTI-USE BUILDING. UTILITIES ARE INCLUDED, MAKING THESE FIXED COST SPACES EASIER TO RENT! HUNDREDS OF THOUSANDS OF DOLLARS HAVE BEEN SPENT ON IMPROVEMENTS IN THE LAST 15 YEARS!
CURRENT INCOME: THE 2007 INCOME WAS $437,671.00. THE 2008 INCOME WAS JUST UNDER $492,765.00! THE 2009 INCOME IS PROJECTED TO BE ABOUT THE SAME AS 2008, OR PERHAPS 10% LESS! IT'S TOO EARLY TO SAY. RECENTLY MORE PEOPLE HAVE BEEN LOOKING AT SPACE, BECAUSE WE INCLUDE UTILITIES, SO MAYBE IT WILL COME IN EVEN HIGHER THAN 2008?
POTENTIAL INCOME: IF FULLY RENTED AT THE CURRENT RENT RATE THE INCOME COULD BE OVER $750,000.00 ANNUALLY! (Most buildings of this size charge a Common Area Maintenance fee (CAM). Just adding a .50 cent per square foot annual CAM fee can add $44,000 to the current income or $80,000.00 if fully rented!)
SQUARE FOOTAGE: TOTAL SQUARE FOOTAGE IS 213,340! OF THAT AMOUNT 88,082 SQ. FT. IS CURRENTLY RENTED! 70,116 SQ. FT IS AVAILABLE TO RENT, AND 54,142 SQ. FT. IS COMMON AREA. (all figures are approximate)
UNIT SIZES: Vary from as small as 600 square feet to as large as 17,000 square feet depending on availability. Adjoining units can be opened up easily for companies wanting to expand.
FLEXIBLE USES: The building and spaces allow for a large amount of uses such as Industrial, Manufacturing, Warehouse, Commercial, Office & Artist Space.
REASONABLE RENTAL RATES: Our reasonable rental rates include electric, heat*, water, sewer, garbage, building maintenance, compressed air, snow plowing, property taxes, building insurance, etc.
EASY BUILDING ACCESS: We offer Tenants 24 hour 7 days a week access. We have common area overhead doors with hallways large enough to drive a forklift through, or in some cases a vehicle into for loading and unloading. First floor units have roll-up doors leading into the common hallway.
BUILDING SECURITY: The building has all steel entrance doors with steel frames and automatic locks (except for the front door), which are unlocked during normal business hours and automatically lock after hours and on weekends. Tenants have a key to the door closest to their area. A VIDEO SECURITY SYSTEM has also been purchased and should be installed in the next 3 months. This system has 16+ cameras, a DIGITAL VIDEO RECORDER for long term viewing and playback features, battery back-up and a VIEWABLE LIVE ON-LINE feature, so that the building manager and the Property Owner can view this property LIVE at their convienince 24 hours a day 7 days a week!
ELECTRICAL AVAILABILITY: There is 240 VOLT 3 PHASE Power Available along with standard 120 and 240 volt single phase. It has a double Buss Bar System, one bus on the North Side and one on the South Side of the building running almost the full length of the building, East to West!
FIRE SPRINKLER SYSTEM: This building has a Fire Sprinkler System running throught the entire building! It is tested quarterly and is in proper working condition! It is tied into a automatic call system that alerts a local security company, who notifies the fire department! The local Firehouse is only about 2-3 miles away!
PARKING: There are 3 parking seperate parking lots and addtional parking area along the entire length of the South side of the building. Total parking for approximately 200-250 cars!
Management: The building manager is willing to stay on after the sale if needed. He said he can manage this property easily for 3 hours a day on average. Or, is willing to train you or someone else. He would also be renting 5,200 sf. ft. under a 1 year lease, effective at closing, for additional income not mentioned above, of $2,395.00 per month!
Financing: IN CASE YOU MISSED IT ALREADY MENTIONED ABOVE, A LOCAL BANK HAS REVIEWED THE FINANCIALS AND IS READY TO FINANCE THIS DEAL!!! THE LOCAL BANK IS WILLING TO FINANCE WITH 20% DOWNPAYMENT OR EQUITY, BUT ARE EVEN WILLING TO GO WITH 10% DOWN IF YOU ARE A STRONG BUYER!
HUNDRED'S OF THOUSANDS OF DOLLARS HAVE BEEN SPENT ON IMPROVEMENTS OVER THE LAS T 15 YEARS! HERE IS A PARTIAL LIST: Thermopane windows with glass 3/4" thick for better R factor; Insulation (R-22 in many of the walls; Rubber roofing 95% newer, with insulation board installed underneath for more roof R factor; automatic security locks, with timers, on steel doors, with steel frames; widened overhead doors (13' wide for 12' steel loads) with an R factor of 11 and openers with remotes: remodeled bathrooms; asphalt parking lots: 400 amps added to the electric service: 13' wide x 9' high steel roll-up doors installed on each rental unit: security camera system and professional landscaping!
Convenient Location: Located in a high traffic area with a four lane street in front, which is also a local highway! We are located only 80 miles or 115 minutes West from the Chicago, IL area; 80 miles or 85 minutes from Madison, WI; 95 miles or 113 minutes from Milwaukee, WI. With even closer access to Bypass 20, I-39 and I-90.
Need more info?: THIS IS A CONFIDENTIAL LISTING TO PROTECT THE BUYER'S, THE SELLER'S AND THE TENANTS FROM PANICING ABOUT NEW OWNERSHIP, OR A POSSIBLE SALE! EMAIL US AND WE WILL EMAIL YOU A NON-DISCLOSURE AGREEMENT...... SIGN IT AND FAX IT BACK AND WE WILL EMAIL YOU BACK THE BUILDING WEBSITE ADDRESS (For more and better pic's and more description details),THE CHICAGO FIRM'S APPRAISAL; THE LAST FOUR YEARS OF PROFIT AND LOSS; THE SPECIFICS ON RENTAL HISTORY; CURRENT RENTED SPACE; AVAILABLE SPACE; EXPENSES; ETC.
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