Click here to view details of auction id 633810 :Auction Starts: 05-05-14 11:30 AMAuction Closes: 05-15-14 06:00 PM 1358 S Tripp Ave, Chicago, IL 60623Mixed used 3 apartments multifamily property with a retail unit- Excellent potential -Property was offered for sale for $249,500 (February 2012)3,315 sq ft Commercial building on 2 stories plus there is a basement and a small garden at the back.Land size 3,125 sq ftThree apartments and a retail unit - 6 bathroomsProperty currently boarded up needs a full rehab. Urgent building code work needed. Fire damage to second floor.Good location, just 13 minutes from Chicago Loop (downtown Chicago)Surrounded by residential, commercial, business and offices. Overlooking large open green space.This is a unique opportunity for the savvy business owner, developer or investor to own a potentially high income property at a discounted price in a great location.Great investment opportunity:Price Comps 4350 - 4358 W 16th St, Chicago, IL 60623 -2,400 sq ft - $300,0001222 S. Kolin, Chicago, IL 60623 - 3,002 sq ft- $195,000Great value: Property was offered for sale for $249,500 (February 2012)Excellent income potential: The retail unit was rented for $800/month and the apartment for $600/monthTotal gross rental income: $2,600 /month ($31,200/ year)Each unit pays their own gas and electric.Taxes:Total back taxes that are currently due (2013): $1,898PROPERTY IS SOLD AS IS, WHERE IS-Property is sold on a Quit Claim Deed with buyer assuming taxes, liens and encumbrances (if any).Winning bidder must contact the seller within 24 Hours after the close of the auction with full details of the buyer.Buyer will also be responsible for $500 deed prep and doc fee as well as 8 % premium.10% non-refundable deposit (minimum $1,000), auction premium (Minimum $250) and $500 deed preparation and doc fee are due within 48 hours of auction close. Final Payment to be made within 1 week of the Auction close.All bidders to do their due diligence. No statement anywhere, whether express or implied, shall be deemed a warranty or representation by the Seller regarding these assets. All buyers are deemed to have relied entirely on their own information, judgments and inspections of the property in making the decision to purchase the property.
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