ACTV CTGF: Rent Price: Lease Type: N/A List Price: $150,00 Rented Price: Contract Date: Sold Price: Est

Total Page：16

File Type：pdf, Size：1020Kb

Mixed Use MLS #: 06171720Status: ACTV CTGF: Rent Price: Lease Type: N/A List Price: $150,00 Rented Price: Contract Date: Sold Price: Est. CAM/SF: Est. Tax/SF: Closed Date: Property Location Address: 12058 S Marshfield City: CALUMET PARK Zip: 60827Area #: 643 Subdivision: County: Cook Township: Yr. Built: 1980 Parcel ID#: 25302090440000 Multiple PIN: N Coordinates: North: 0 South: 12058 East: 0 West: 1650 Directions: 2 BLOCKS WEST OF 119TH, 1 BLOCK NORTH OF I 57. Property Information And Description Subtype: Ofc/Store Built Before 1978: N Zoning: COM # Stories: 1 # Units: 1 # Apartments: 0 # Offices: 2 # Stores: 1 Lot Dimensions: 150-75 Land Sq. Ft: 24000 Approx. Total Bldg. Sq. Ft: 3150 # Garages: 1 # Of Parking Spaces: 2 # Dishwashers: # Washers: # Dryers: Washer/Dryer Leased: # Window A/C Units: 1 # Ranges: # Disposals: # Fire Places: # Refrigerators: Approximate Age: 26-35 Years Air Conditioning: Office Only, Window Unit/s Backup Package: Client Needs: Client Will: Construction: Current Use: Commercial Water Drainage: Docks: Electrical Svcs: Building Exterior: Brick (BR) Floor Finish: Foundation: Fire Protection: Frontage Acc: Heat/Ventilation: Wall Unit(s) Information: Other-See Remarks Known Encumbrances: Location: Misc. Inside: Overhead Door/s, Private Restroom/s, Storage Inside Misc. Outside: Type Ownership: Indoor Parking: 6-12 Spaces Outdoor Parking: Posession: Potential Use: Roof Coverings: Roof Structure: Tenant Pays: Varies by Tenant Terms: Utilities To Site: Geographic Locale: South Suburban MLS #: 06171720 Address: 12058 S Marshfield, CALUMET PARK, 60827 Income Data Tenant Name Sq. Ft #Bedrooms Lease Exp. Dt. Monthly Income. 0 0 0 0 0 0 0 Total Montly Income: Gross Rental Income: Effective Gross Income: Parking Income: Laundry Income: Miscellaneous Income: Total Annual Income: Annual Operating Expenses Amount Source Real Estate Taxes: (Tax Year:2004) 10,375.60 Janitor $0 Management $0 Fuel $0 Electric $0 Water $0 Scavenger $0 Insurance $0 Repairs-Decorating $0 Association Fee Elevator $0 Supplies $0 Advertising $0 Vacancy Other Expenses $0 Expense Year: Expense Source: Less Total Annual Expenses: Net Operating Year: Net Operating Income: Cap Rate: Gross Rent Multiplier: 0% Remarks: BUILDING NOW AVAILABLE IN HOT CALUMET PARK! COMPLETLY REMODELED, TWO PRIVATE OFFICES, LARGE STORE FRONT AREA, PRIVATE BATH ROOM WITH SHOWER. HUGE WAREHOUSE/GARAGE WITH PRIVATE 2 GARAGE BAY. EASY ACCESS TO I57 OR I294. GREAT INVESTMENT IN A AREA THE IS BEING HEAVLY REDEVELOPED. Broker Information Listing Type: Exclusive Right To Sell Co-Operative Compensation: 2.5 -$125 Special Comp. Info.: None Other Compensation: Agent Owned/Interest:N Broker: VISION GROUP REALTY INC. ID#: 14572 Office Phone: (312) 225-3700 Agent: ANTHONY CHIARITO ID#: 159251 Agent Phone: (312) 225-3700 Co-Lister: Agent Additional Info: Agent E-mail: [email protected] Alternate Phone Number: (312) 446-7466 Office URL: Listing Information MLS #: 06171720 Status: ACTV List Price: $150,000 List Date Received: 06/11/2006 LstMT/MkT: 131 / 131 Original List/Rent Price: $150,000/ Listing Date: 06/11/2006 List Office #: 14572 Sale Price: Off Market Date: List Agent #: 159251 Rented Price: Contract Date: Sale Office #: Financing: Closed Date: Sale Agent #: Points: Status Date: 06/17/2006 Update Date: 06/25/2006.

Copy Link

Recommended publications

The Valuation of Apartments
THE VALUATION OF APARTMENTS By Tim Klein & Dan Blonigen Goals of this course Introduction to the basic concepts of Apartment Valuation You will leave with the ability to value an apartment in your jurisdiction! Outline What is an apartment The Inspection Valuation Sales Verification & Comparison Income Capitalization Mass Appraisal Techniques Case Study Q & A Current Market 32% of US Households are Renters – NMHC 30% of Apartment renters are under age 30, 58% under age 44 -NMHC Represents 38% of new housing starts – US Census, May 2014 “Minneapolis-St. Paul, one of the strongest rental markets in the nation.” – Marcus Millichap 2014 4th in the Nation – Marcus Millichap Cap Rates National Korpacz 1Q ’13: Average 5.73% Korpacz 1Q ’14: Average 5.79% Minneapolis RERC 1Q ‘13: Average 6.0% Consumer Life Cycle What is an Apartment What is an Apartment An Apartment is a housing unit of one or more rooms, designed to provide complete living facilities for one or more occupants. An Apartment Building is a structure containing four or more dwelling units with common areas and facilities. Common Area includes entrances, lobby, elevators or stairs, mechanical space, grounds, pool, etc… Apt Styles– Low Rise Typically 1 -3 stories No elevators 12-50 units Intermediate density Apt Styles– Mid Rise Usually steel or reinforced concrete 4-10 stories Elevator service Intermediate density Apt Styles– High Rise Steel or reinforced concrete More than 10 stories Elevator service High density Usually in urban core Apt Styles–
[Show full text]
Preliminaries
Preliminaries Real estate capital markets (a) Real Estate Assets The question . How should one price real estate assets? . Asset: store of value with well defined property rights . A title to a string of cash flows (or payoffs) to be received over time, and subject to some uncertainty . Two basic tasks: 1. Describe the distribution of payoffs (i.e. forecast) 2. Price that distribution . Arbitrage principle: “similar” assets should be priced in such a way that they earn similar returns . Otherwise… Arbitrage opportunities Asset Paris NYC $90M $100M Opportunity cost of capital . Investing in a given asset is foregoing the opportunity to invest in other assets with similar properties . Investor should be compensated for foregoing that opportunity . Asset under consideration, therefore, should yield at least the same return as other similar assets Main asset pricing recipes 1. Discounted cash flow approach a. Write asset as a string of expected cash flows b. Find return similar assets earn c. Discount cash flows using that rate 2. Ratio/Peer Group/Multiple approach a. Find a set of similar assets, with known value b. Find average value/key statistic ratio c. Apply that ratio to asset under consideration The multiple approach in real estate . Find a group of comparable properties (‘Comps’) with known value . Comparable: similar location, purpose, vintage… . Compute average ratio of value to gross rental income (Gross Rent Multiplier approach) . Compute average ratio of Net Operating Income (NOI) to value, a key ratio known as the Capitalization Rate . Get an estimate of the current Gross Rent and NOI for your target property, and apply ratio Example .
[Show full text]
Investment Property Loan Matrix 11 What’S Your “WHY?” 27
Investment Property DEVNW WORKSHOP Real Estate Investing Typers 2 Mortgage Acronyms 14 Tax Considerations 5 Fair Housing 15 Run the Numbers Definitions 6 Should I Hire a Property Manager 19 Property Analysis Example (Triplex) 8 Management Software & Apps 21 Property Analysis Example (Duplex) 9 Getting Started 22 Conventional Loan Considerations 10 4 Real Estate Investment Returns 27 Investment Property Loan Matrix 11 What’s your “WHY?” 27 Down Payment & Rate Comparison 13 1 Types of Real Estate Investing Wholesaling – the process of find great real estate deals and getting paid to bring them real estate investors. Likely requires a lot of direct marketing to find sellers/homeowners who would like to get out of their homes. Money to start: $0 + outreach materials Partnering –the process of teaming up with another real estate investor to build a deal together. One partner may bring more capital, while the other partner may bring more leg work or specific expertise. Local REAs (Real Estate Associations) are good place to beginning meeting partners. Like any business partnership, it’s important to have clear expectations, clear exits, and a partnership agreement. Money to start: $0—any amount; it just depends how you structure the partnership. Real Estate Investment Trust (REIT) – a type of investment similar to a mutual fund that specifically invests in companies that invest in real estate. REITs offer investors with an extremely liquid and low entry-point into real estate. Money to start: $100 and investment brokerage account Real Estate Crownfunding– many people invest small amounts into a larger real estate project. In 2013 the JOBS Act lifted restrictions, allowing small investors to participate in crowdfunding real estate.
[Show full text]
Speculator Beware Watch List January 2018
SPECULATOR BEWARE WATCH LIST JANUARY 2018 The monthly Speculator Beware Watch List shows rent-regulated buildings that are currently being marketed for sale at prices that may rely on low-rent paying tenants being pushed-out. Other displacement risk tools such as ANHD’s comprehensive, on-line Displacement Alert Project Map (www.dapmapnyc.org) look at certain existing building indicators and information about past sales to assess risk. The Speculator Beware Watch List is a valuable new tool for organizers because it is forward-looking. It takes a new approach by looking at the prices of buildings currently being offered for sale and using common real estate industry metrics to assess whether the offering price may be elevating the risk of displacement. This is a partial list, based on information we can glean from available sources. Landlords, developers, banks, and brokers often seek speculative prices and overleveraged financing which fuel a cycle of tenant harassment and displacement known as “predatory equity”. Tenants and community organizers can work together with proactive strategies to discourage speculation if they know a problem may be brewing. Identifying speculation before it happens is one important way to protect affordable housing. EVERY BUILDING IS DIFFERENT, BUT WE USE THESE GENERAL GUIDELINES TO IDENTIFY POTENTIAL RISK: • Sales Price ÷ Gross Rental Income (the “Gross Rent Multiplier”) is an indicator of the sales price in relation to the income generated by rents. We use asking sales price on the Watch List because there is no final sales price yet. A standard assumption is that this indicator should be below 11 if it is based on the rents of the existing tenants.
[Show full text]
In Real Estate
YOUR GUIDE TO INVESTING IN REAL ESTATE 2020 EDITION INCLUDES MARK BARRY APARTMENT REPORT Nick Krautter City & State Real Estate SellPDX Team Principal Broker in Oregon 35 NE Weidler Portland, 503-901-8100 Oregon 97232 [email protected] INVESTING IN REAL ESTATE P a g e | 1 Unique Benefits of Real Estate ............................................ Page 2 Positive Leverage ............................................................... Page 3 Your Real Estate Team ....................................................... Page 4 Distressed Properties ......................................................... Page 6 Investment Case Study and APOD ...................................... Page 7 Appendices ........................................................................................................ Page 13 Mark Barry Apartment Report .................................................................................... 13 Nick Krautter 35 NE Weidler, Portland OR 97232 Principal Broker in Oregon (503) 901-8100 Sellpdx Team at City & State Real Estate [email protected] INVESTING IN REAL ESTATE P a g e | 2 1. Leverage: You can use debt to acquire larger properties and increase your cash-on-cash return in properties with positive leverage. [I’ll explain these terms in detail later in the report]. Residential: Up to 97%-100% if owner occupied, 80% if investment Commercial: Up to 90% LTV owner occupied 75%-80% if investment Apartments: Up to 80% LTV 2. Insurance: If it burns down you can rebuild it, often with income replacement for investment property while re-building. 3. Depreciation: You can depreciate the value of the building over the course of 27.5 years for residential and 39 years for commercial. This helps shield income from taxes. Using cost segregation, you can sometimes accelerate the depreciation. 4. Income: You can rent the property and collect income and this happens regardless of shifts in the market and property values. 5. Tax Deferral: Using a 1031 exchange you can defer taxes when trading like-kind properties.
[Show full text]
6.5% Cap Rate and 9.0X GRM) CONFIDENTIALITY, TERMS, and CONDITIONS
6820 7th Avenue 14 UNITS OFFERED FOR $1,065,000 (6.5% cap rate and 9.0x GRM) CONFIDENTIALITY, TERMS, AND CONDITIONS: The information contained herein is strictly confidential, furnished solely for the purpose of considering the acquisition of the property described herein and is not to be used for any other purpose or made available to any other person without the expressed written consent of ARA Pacific. It has been obtained from the Seller and may include other sources believed to be reliable, but no representation is being made with regard to its accuracy or completeness. Prospective investors should undertake their own investigations and reach their own conclusions without reliance upon the material contained herein. Neither the Seller nor the Agent nor any of their respective officers, agents or principals has made or will make any representations or warranties, expressed or implied, as to the accuracy or completeness of the Offering Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of the Offering Memorandum or its contents. Analysis and verification of the information contained in the Offering Memorandum is solely the responsibility of the prospective purchaser. The Seller and Agent expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Property and/or terminate discussions with any entity at any time with or without notice. The Seller shall have no legal commitment or obligations to any entity reviewing the Offering Memorandum or making an offer to purchase the Property unless and until such offer for the Property is approved by the Seller, and any conditions to the Buyer’s obligations there under have been satisfied or waived.
[Show full text]
Residential Rental Properties
Residential Rental Properties Grant County currently uses the Income Approach as well as the Cost Approach when assessing income-producing properties. Because income properties are purchased with investment as the intent rather than owner occupancy, the market is different and the State requires the Gross Rent Multiplier to be used. The Gross Rent Multiplier creates a direct relationship between the gross rent generated by a rental property and the sale price, or market value, allowing for assessments based on the investment potential. Sale Price / Rent = Gross Rent Multiplier (GRM) Rent * GRM = Assessed Value Own a rental property? Please fill out form at the end of this page. How is this info used to value rental properties? Where do these values for rental properties come from? That is a very good question and one that is asked often. Hopefully this illustration willprovide some answers to that question. According to IC 6-1.1-4, income properties are tobe valued with the preferred method of the gross rent multiplier. The calculation for themultiplier to be used is: Sale Price/Rent = Multiplier (annual) or (Sale Price/Rent)/12 = Multiplier (monthly.) So, how is this put into practice? Step 1 . Collect sales and income information from all available resources. All saleschecked as Income properties are verified and validated, determining theirsuitability to be used for modeling. Rent information is also collected during thisprocess. Step 2. Separate all sales and rents into appropriate neighborhood or GRM areas. Step 3. Determine the median gross rent multiplier for each area. Step 4 . Determine the appropriate market rent for each area dependent upon bedroom count.
[Show full text]
Predatory Equity
Predatory Equity Grace Cho URP 590: Real Estate Integrative Seminar Winter 2018 What even is Predatory Equity? Speculator succeeds at displacing affordable housing residents Speculator (attempts to) transition the site for higher end use Bank provides loan for OR a speculator to overpay for an affordable housing Property enters foreclosure, building Speculator affordable housing residents fails, can’t pay are displaced mortgage Origins of Predatory Equity Origins of Predatory Equity Blockbusting in America from 1910-1970 Predatory Equity in NYC ● Term emerged in the last 10 years ● Pre-2008, private equity companies purchased rent-stabilized properties at inflated prices ○ Some had stated goal of tripling turnover rate ● After crisis, companies unable to pay back loans ○ Some went bankrupt ○ Some began harassing tenants to make them move Known Predatory Equity Companies in NY ● Blackrock Realty ○ 2006 Stuyvesant Town deal ● Vantage Properties ○ 2006-2007: spent $2 billion buying 125 buildings in NY ● Rockpoint Group ○ Purchased Riverton Homes in 2005 ○ Rental income = $5.2 million ○ Mortgage = $225 million ○ Planned to evict half of rent-restricted tenants in 5 years to Savoy Park, formerly owned by Vantage Properties triple rental income Efforts to Regulate in New York City ● Stabilizing NYC = tenant advocacy coalition ○ Urban Justice Center, Urban Homesteading Assistance Board, 16 neighborhood-based tenant advocacy organizations ○ Criteria for potentially predatory equity projects ■ High debt-to-income ratio or low capitalization rate
[Show full text]
Appraising and Estimating Market Value 16
16 Appraising and Estimating Market Value 16 Real Estate Value Appraising Market Value The Sales Comparison Approach The Cost Approach The Income Capitalization Approach Regulation of Appraisal Practice REAL ESTATE VALUE Foundations of real estate value Types of value The valuation of real property is one of the most fundamental activities in the real estate business. Its role is particularly critical in the transfer of real property, since the value of a parcel establishes the general price range for the principal parties to negotiate. Real estate value in general is the present monetary worth of benefits arising from the ownership of real estate. The primary benefits that contribute to real estate value are: income appreciation use tax benefits Ownership of real estate produces income when there are leases on the land, the improvements, or on air, surface, or subsurface rights. Such income is part of real estate value because an investor will pay money to buy the income stream generated by ownership of the property. Appreciation is an increase in the market value of a parcel of land over time, usually resulting from a general rise in sale prices of real estate throughout a market area. Such an increase, whether actual or projected, is another investment benefit that contributes to real estate value. The way a property is used -- whether residential, commercial, agricultural, recreational, etc. -- in large part determines the property's value. Each kind of use has its own benefits. 218 Principles of Real Estate Practice Depending on current tax law, tax benefits from ownership of a property may take the form of preferred treatment of capital gain, tax losses, depreciation, and deferrals of tax liability.
[Show full text]
Multi-Residential Properties
Income And For further information please contact Operating Expenses Only income and operating expenses Saskatchewan Assessment Management Agency necessary to operate a multi-residential Saskatchewan Assessment Management Agency property are used for the Income Approach. Revaluation Unit 306-924-6626 or 866-828-2133 Multi- Income or expenses associated with any www.sama.sk.ca other business conducted on the property are not relevant or used to or Residential value the property itself. City of Regina 306-777-7240 Properties Confidentiality of www.regina.ca Property Assessment Information City of Saskatoon through the Income 306-975-3227 Approach The assessment jurisdiction recognizes www.saskatoon.ca information required may be personal, confidential or sensitive. Steps have City of Prince Albert been taken to ensure information is kept 306-953-4320 secure and confidential in accordance www.citypa.com with confidentiality provisions in City of Swift Current legislation. 306-778-2777 City of North Battleford When will the Income 306-445-1781 Approach be implemented in Saskatchewan? The Income Approach will be used for the 2009 revaluation. The time until then Market Value is needed to: ● organize and carry out research ● gather physical, income and expense data on properties ● recruit and educate appraisers = Net Operatin ● ready computer systems to store, analyze and determine values. Income Overall Cap Overall Capitalization Rate Multi-Residential Sales Comparison Approach How the Income Apartment buildings sell with some degree Properties of regularity. However, there are many types Approach Works Multi-residential properties contain many of apartments and it may not be possible to The Income Approach aims to obtain dwelling units, each with its own set of obtain enough sales for them in every values for a range of multi-residential rooms.
[Show full text]
Exhibit 8-4.3 Realtyrates.Com.Pdf
TM Welcome to the 1st Quarter, 2013 edition (4th Quarter, 2012 data), of the RealtyRates.com TM Market Survey . The Market Survey tracks sales, income, occupancy and expense data, as well as operating rates and ratios for seven property types including apartments; warehouses and distribution centers and, flex/R&D industrial properties; CBD and suburban office buildings; and anchored neighborhood and community and unanchored strip retail centers. Data is provided for twelve regional areas encompassing the 48 continental U.S. states and the District of Columbia, as well as three to four selected metro market areas within each region, a total of 45 in all. It should be noted that regional data encompasses the entire region as defined, not just the selected metro market areas. The Market Survey represents a polling of commercial appraisers, lenders, investors, and brokers with representation in all 312 MSAs and the majority of the non-metro counties in the country. The bulk of the data is comprised of individual tables for each region that include quoted and effective rents, other income, vacancy rates, effective gross income, operating expenses, operating expense ratios, net operating income, sales prices, inferred overall capitalization rates, and gross rent and effective gross income multipliers. RealtyRates.com TM is the Trade Name and a Trademark of Robt. G. Watts & Co. (RGW). Founded in Honolulu, Hawaii as Pacific Research Company and now headquartered in Bradenton, Florida, RGW has provided professional analytical, advisory and development management services to investors, property owners, major corporations, lenders and government agencies worldwide since 1973. We hope you find the Market Survey useful and informative.
[Show full text]
Glossary of Commercial Real Estate Terms
Glossary of Commercial Real Estate Terms From the REALTORS® Commercial Alliance 12/2005 -- A Absorption The amount of inventory or units of a specific commercial property type that become occupied during a specified time period (usually a year) in a given market, typically reported as the absorption rate. Accumulated cost recovery Total cost recovery deductions taken throughout the holding period of a property. Active income Income from salary, wages, tips, commissions, and activities in which the taxpayer materially participates. Also see passive income. Add-on factor The ratio of rentable to useable square feet. Also known as the load factor and the rentable-to-useable ratio. Also see efficiency percentage. Formula: Add-on factor =Rentable square feet Useable square feet Add value Fourth stage of four-stage transaction management process pertaining to a transaction manager’s planning, effort, and continual contact with key decision-makers, investors, and users, as well as contact with ancillary professionals. This ongoing process allows for feedback, establishes a network for problem solving, provides a means to offer additional services to the client, and enhances the transaction manager’s preparedness for the next assignment. Adjusted basis The original cost basis of a property plus capital improvements, less total accumulated cost recovery deductions, and partial sales taken during the holding period. ADS See annual debt service. Agglomeration economies Cost reductions or savings that come about from efficiency gains associated with the concentration or clustering of firms/producers or economic activities and the formation of a localized production network. Amortization The repayment of loan principal through equal payments over a designated period of time consisting of both principal and interest.
[Show full text]