COMMERCIAL PROPERTY

[Atul Mohlajee]

I am considering buying a building with store on first floor and a 2 BR large apartment on second floor in a Chicago suburb.  I am new to commercial investment.  Is it a good investment if I can make good positive cash flow after the rehab?  

[Rick H.]

Abandoned means no record owner has any interest in the asset or in not aware they have any interest, as would be the case of heirs of Decedent's estate. 

It sounds like this property is actually mixed use, meaning commercial/retail and residential. 

These type are much harder to finance. Perhaps SBA, local bank or government grant program. 

I would make an offer based on seller financing for whatever owner's equity is agreed upon and delay any payments on debt until repairs completed and property is performing.