Property Details

TITLE:
DEV OPs X2 READY 2 BUILD 2DAY!
CONTROL:
Exclusive
VALUE:
$16,888,000
LOAN:
$3,630,000
EQUITY:
$13,258,000
TYPE:
Subdivision
HAVE:
2 Fully Improved Sites; 64 THs AND 140 Apts, Ready NOW! All the earthwork, utilities, detention, curbs, access complete at the TH site. AND 140 apts project is 30% complete with all the earth work, foundation, flat work, elevator and stair wells complete.
ADDRESS:
3271 US Highway 20, Elgin, Kane County & 329 Thomas Lane, Fox Lake, Lake County, Elgin & Fox Lake, Illinois
BENEFITS TO NEW OWNER:
Housing shortage here too! City wants it NOW!. All entitlements are complete. Finish your final drawings, days for building permits. Adjacent project of 250 units leased up in 18 months. 5.7 acres at Fox Lake and 4.5 acres Elgin
OTHER FILES:
GROSS SCHEDULED INCOME:
$0
VACANCY LOSS:
$0
GROSS EFFECTIVE INCOME:
$0
EXPENSES:
$74,888
NOI:
$-74,888
DEBT SERVICE:
$410,654
CASH FLOW:
$-485,542
CAP RATE:
0.00%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$3
$0
0%
09/30/2024
No
BENEFITS SOUGHT:
DEBT RELIEF, Venture Partner, NEW Opportunity
CAN ADD:
GC Expertise, Crew, Equipment, Contacts, THE FINISHED PRODUCT!
REMARKS:
The Time Is NOW! Let's make a deal. All of the advance and pre-construction work is done. Fox Lake and Elgin await your FINAL plans for approval. Submit your plans and BREAK GROUND ASAP!
COUNSELOR:
William Caton
Caton Commercial Real Estate Group
1296 Rickert Drive Suite 200
Naperville, , 60540
Phone: 815-370-1236