Salon Suites, Investment opportunity with Property

Business Information

Listing ID: 060411
Category: Current
Location: Western Suburb of Chicago, IL
Annual Gross Sales: $55,128.00 (Rent for the whole unit). Annual Expenses: $8,508.00
Annual Cash Flow: $46,620.00 Note: The mortgage payments are based on 25% down and 20 years amortization at 6.6% interest.
Purchase Price Business & Properties: $349,000.00 Owner will consider offers.

Business Description

The property is on 1,100 Sq. Ft. Condo unit. It is located below a condo home development near downtown Westmont.

The owner built 4 individual suites and spent $160,000.00 in the build-out. The suite has a sprinkler system and was completed in late 2009.

He rents out the whole unit to one person who is responsible to lease the other suites. That individual is responsible for the upkeep and maintenance of the hall unit. That individual has signed through January, 2016.

THE PURCHASER DOES NOT HAVE TO BE INVOLVED IN THE DAY-TO-DAY OPERATIONS OF THE SUITES.

Contact Information

Contact agent: John Mikaelian
Contact phone: +1-847-867-0050
Contact us