All Forum Posts by: Fernando Angelucci

We have available for immediate assignment a penthouse in the heart of the River North neighborhood of downtown Chicago. This is the top unit of a 3-unit building. It is officially licensed with the City of Chicago to be able to operate as a bed and breakfast and is a highly sought after AirBnB. The license and full book of business are included in the sale along with over $200,000 worth of furniture. Immediately take over bookings from Airbnb and VRBO already scheduled for several months out upon purchase.

0-100 Block of W Ontario Street, Chicago, IL 60654

Price: $1,680,000

Size: 4,000 Sq. Ft.

5 Bedrooms, 2 Baths

Earnest Money: Negotiable

Close Date: Flexible

Gross Rental Income: $271,000 (Airbnb & VRBO)

Net Operating Income: $172,000 (based on a 20% AirBnB management fee structure via Hostly)

Estimated Cap Rate: 10.26%+

Details: This property is being sold off-market. With the furniture and book of business being included in the sale, this turnkey investment will bring a minimum 8% cap rate without any additional investment. This penthouse unit is located on the top floor of 2 consecutive buildings with a private rooftop deck.

Value-Add Opportunities

• Raise NOI by owner managing (13.42% Cap Rate) or using a less than 20% fee-based management company
• Gross rents are only for the 118 nights currently being booked per year
• Buildout the private rooftop deck to increase value and raise booking prices
• Allow bookings for private events/cocktail parties

PHOTOS AND VIDEO WALKTHROUGH: https://www.dropbox.com/sh/k8ac1i3d0b471kt/AAADk5WgrzLqFM9iQQyBRQ4Ea?dl=0

This deal goes to the first person to sign the assignment of contract and remit the assignment fee. The address and financials can be provided upon receipt of a signed NDA; reply to request an NDA from us. Private showings will be scheduled upon request unless the deal sells sight unseen. If you are a wholesaler interested in marketing this deal, you must obtain our permission first. Please let us know if you have any questions or interest as this one will not last long! 

We have available for immediate assignment a brick 12-unit in Park Ridge, IL. This is a very rare opportunity as there are not many multifamily buildings in Park Ridge and they don't trade hands often!

737 N. Western Ave., Park Ridge, IL 60068

12 Unit Brick/Flexicore Apartment Building

(10) Two Bedroom Units, (2) One Bedroom Units, 19 parking spots

Price: $1,600,000.00

Property Taxes: $20,329.66

Current Rent (below market): 2 Bedrooms: avg. $1,000 | 1 Bedrooms: avg. $875

Details: The units are rented severely under market and there is a significant value add component. Two bedrooms are currently at an average of $1,000/month and one bedrooms at $875/month. The majority of tenants are long term and month to month leases for the ease of the new owner. This is a very high end market - one of the most desirable suburbs of Chicago with a high demand for rental units since its mostly high end SFH. The building can be upgraded (owner currently pays for most utilities, i.e. boiler building), made into condos, or torn down (20,000+ sq. ft. lot) to build brand new multi-family. The photos below are of the one vacant 2 bedroom unit and an example of one of the 1 bedroom units. All 2 bedroom units are similar condition and the same layout.

PHOTOS AND VIDEO WALKTHROUGH: https://www.dropbox.com/sh/fte3zmkpy44y0yw/AABMKyuOoR4wGYCmlMSR97NPa?dl=0

Private showings will be conducted upon request. The deal goes to the first person to sign the purchase agreement and remit $5,000 earnest money. If you are a wholesaler and are interested in marketing this deal, you must obtain our permission first. If you have any questions or interest in moving forward, please do not hesitate to reach out as this one will not last long!

We have available for sale a brick 6-unit on a double lot that has been mostly rehabbed, and is easily made rent ready. This deal is available for cash purchase or via seller financing.

6651-6655 S. Oakley Ave., Chicago, IL

PINs: 2019125-035/036

Property Taxes: $4,006 (2017 was successfully reduced)

Units: 6 (4 One Bedrooms | 2 Two Bedrooms)

Proforma Monthly Rent: $5,500 (Section 8)

Profroma Net Operating Income: $47,000+

CASH PURCHASE OPTION

Cash Price: $300,000

Cap Rate: 15%+

SELLER FINANCED PURCHASE OPTION

Seller Finance Price: $325,000

Down Payment: $32,500

Finance Term: 24 months

Interest Rate: 6% interest only payments ($1,462.50 per month)

Details: Remaining balance of $292,500 due upon end of finance term, refinance, or sale, whichever comes first.

Cash on Cash Return: 75%+

Details: This brick multifamily building sits on a corner lot of a quiet street with an additional lot that is fenced in with the building. A newer built 3 car garage sits on the vacant lot. The building features porch systems that were built new within the last 5 years. All units have individual high efficiency furnaces. The building has security cameras installed and wired but no recording box has been connected yet. The property is currently vacant and secured by D.A.W.G.S. Tenants to pay all utilities except water. All units except for one were updated before a break in occurred resulting in some copper pipes being stolen and dry wall damage. Now the building just needs to some cosmetic rehab, repiping in select areas, and a good cleaning. The building would be perfect for the Veterans Section 8 program which would pay around $870 for the 1-bedroom units and $1,010 for the 2-bedroom units. A new furnace for the full basement will be provided prior to sale. Tax reduction services have already been paid for 2017, 2018, and 2019’s taxes with 2017’s taxes already successfully contested and reduced.

PHOTOS AND VIDEO WALKTHROUGHS: https://www.dropbox.com/sh/rmz1hhzlge55y5v/AADEu7RCmYukT5IXNdwM0cNPa?dl=0

SUCCESSFUL TAX REDUCTION LETTER: https://www.dropbox.com/s/idwh0xhfd5no8br/Successful%20Property%20Tax%20Reduction%20Letter.pdf?dl=0

Private showings will be conducted upon request. The deal goes to the first person to sign the purchase agreement and remit $5,000 earnest money. If you are a wholesaler and are interested in marketing this deal, you must obtain our permission first. If you have any questions or interest in moving forward, please do not hesitate to reach out as this one will not last long!

We have available for immediate assignments a brick single family home in Oak Park on a corner lot. Tear the roof off and a build a second level for a total of 2,900+ square feet above grade. Recently updated roof, electrical, hot water heater and furnace. Finish the basement for additional value and living space.

1050 N Taylor St. Oak Park, IL 60302

Price: $259,000

ARV: $650,000

2 bedrooms, 2 bathrooms (current)

4-5 bedrooms, 3-4 bathrooms (proposed)

Size: 1462 sq. ft. (current not including basement)

Size: 2900 sq. ft. (proposed not including basement)

Built: 1924

Lot Size: 3807 sq. ft.

Taxes: $9,914

PHOTOS AND VIDEO WALKTHROUGH: https://www.dropbox.com/sh/450zpiv53m55ret/AADRmePO33H-8JwddX0VnUaaa?dl=0

SOLD COMPS: https://www.dropbox.com/sh/lgz64b0e1dvrvdw/AAAXzFSi8410bH5CsC3maBUDa?dl=0

Price: $259K

Rehab: $190K

Resale Value: $650K

Realtor Commission: $39K (6%)

Profit: $156K

ROI: 33%

Private showings will be conducted upon request. The deal goes to the first person to sign the purchase agreement and remit $5,000 earnest money. If you are a wholesaler and are interested in marketing this deal, you must obtain our permission first. If you have any questions or interest in moving forward, please do not hesitate to reach out as this one will not last long! 

We have available for immediate assignment a beautiful 3 story brick building in the highly desirable part of Lakeview. Currently the building has the top unit duplexed and the bottom unit as a single floor with the possibility of finishing the basement to create two duplexed units in addition to adding a roof top deck in addition to the existing garage roof top deck. Each floor contains roughly 1,400 square feet and massive ceilings. There are many options for this property but we believe converting into 2 duplexed condos would result in the highest ROI. Email me for the showing time.

1016 W Oakdale Ave, Chicago, IL 60657

Price: $1.1M

Rehab: $450K

ARV: $2.1M

Gross ROI: 35%

Current Setup

Top Duplexed Unit: 4 bedrooms, 3 bathrooms, ~2,400 sq. ft.

Bottom Unit: 3 bedrooms, 1 bathroom, ~1,210 sq. ft.

Basement: 1,210 sq. ft.

Lot Size: 25x125

Garage: 2-car with Rooftop Deck

Taxes: $14K

VIDEOS & PHOTOS: https://www.dropbox.com/sh/01b1lsvzswpcuib/AABSVj5ZDHlLm0kwkzblvQ1ba?dl=0

FLOOR PLANS & COMPS: https://www.dropbox.com/sh/shbrqvq00ea4lp9/AAB1OWDoZulWpCaS82MqQoasa?dl=0

Details: We view the best route to proceed is to raise the floor of the bottom unit about a foot and to then shave the basement floor down6 inches to get to 8’ to 8’6” ceilings in the basement to allow you to duplex down the bottom unit. The best floor plan would be to have 4 bedrooms and 3 to 3.5 baths per duplex.

The deal goes to the first person to sign the assignment of contract and remit the assignment fee. If you are a wholesaler and are interested in marketing this property, you need to ask for our explicit approval before doing so. We will conduct one group showing unless the deal sells sight unseen.

We have available for immediate assignment a seller financed easy SFR rehab project in Cary, IL. The house has already been 95% rehabbed.

PHOTOS: https://www.dropbox.com/sh/wr6tvto709x3tn0/AAD-wLySIy6GG2o_7E36j1pca?dl=0

317 W. Main St., Cary, IL 60013

Purchase Price: $185,000

Down Payment: $60,000

Monthly Payment: $937.50 (9% interest only)

Finance Term: 18 months

Balloon Payment: $125,000 due upon sale, refinance or end of term

4 bedrooms, 2.1 baths, 1,958 sq. ft.

Property Size: 2,040 sq. ft.

Lot Size: 0.45 acres

Property Taxes: $6,073.00

Estimated Rehab: $30,000

Estimated ARV: $275,000+

Estimated CROI: 35%+

Details: This property is in the best part of Cary, IL within a short walk to downtown with the train station and shops while being in the Cary-Grove Community High School district (10/10 GreatSchools Rating). Similar sold properties in the area have been selling in less than 2 weeks. The majority was redone in this large 4-square home by a rehabber before the hard money lender had to take the house. Only things left to do are trim, paint, light kitchen rehab, landscape, and refinish some of the hardwood floors. The living room has a wood burning fireplace. The attic and basement could be made into livable space as well. Easy financing for an easy flip resulting in a high cash on cash return!

MLS SOLD COMPARABLES: https://www.dropbox.com/s/zivr6td3fs13qo8/Sold%20Comparables%20for%20317%20W.%20Main%20St%2C%20Cary%2C%20IL.pdf?dl=0

The deal goes to the first person who signs the assignment of contract and remits the assignment fee. We will be conducting private showings of the property upon request; respond with a day and time that you would like to have a private showing. If you are a wholesaler and are interested in marketing this deal, you must obtain our permission first. If you have any questions or interest in moving forward, please do not hesitate to reach out as this one will not last long!

We have available for immediate assignment a brick 6-unit in Calumet City, IL.

5 Warren St., Calumet City, IL 60409

$145,000.00

Six (6) Two Bedroom, 1 Bath Units with 2 Partially Built Out Garden Units (Potential for 8 Units Total)

Monthly Rent: $850 per unit ($5100 total with the 6 units; more if bonus units are built out)

Property Taxes: $22,661.44 (have not been contest and could be dramatically lowered)

Estimated As-Is Market Value: $225,000

Details: Five out of six units are occupied and by long term tenants that help care for the building. All units are on month to month leases to allow for flexibility of the new owner. The two garden units are a studio and a 1 bedroom, and are partially built out already. They just need city approval and cleaning/light rehab. The building has a 1 year old boiler and hot water tank. The roof, tuck pointing, and windows have been done within the past 5 years. The units need minimal updating and have hardwood floor underneath the carpet. Seller pays water and heat; the tenants pay electricity and cooking gas. There are 5 manually opened garages with two extra parking spaces on the side of the garage and one in the front of the building.

PHOTOS AND VIDEO WALKTHROUGH: https://www.dropbox.com/sh/hsz7ng7tq2algmy/AACWRuM9Be6oiz5W_4-SgSTEa?dl=0

MLS SOLD COMPARABLES: https://www.dropbox.com/s/jzooyqiiy9z6llq/MLS%20Sold%20Comparables%20for%205%20Warren%20St.%2C%20Calumet%20City%2C%20IL%2060409%20.pdf?dl=0

Private showings will be conducted upon request. The deal goes to the first person to sign the purchase agreement and remit $5,000 earnest money. If you are a wholesaler and are interested in marketing this deal, you must obtain our permission first. If you have any questions or interest in moving forward, please do not hesitate to reach out as this one will not last long!

Would you or someone you know be interested in a fix and flip on a large lot of the Lake Arlington subdivision of Arlington Heights? This is a short sale deal that we have been working on for close to two years and we finally are clear to close!

2150 N Coldspring Rd., Arlington Heights, IL 60004

Price: $370,000

4 Bedrooms, 3.5 Baths, 3,650 sq. ft.

Built: 1993

Lot Size: 0.28 acres

Taxes (2016): $15,455

Estimated After Repair Value: $600,000+

Rehab: Update kitchen and baths, finish basement, landscape, and cosmetic

Details: This recently built home resides in the Lake Arlington community which features great school districts, multiple parks, and a lake that one can boat on. This brick and cedar single family home was owned by a master plaster craftsman and is adorned with his handy work. The rehab can be summarized as cosmetic and stylistic updating with a quick turnaround just in time to sell before winter.

PHOTOS: https://www.dropbox.com/sh/vmn22kj31z6dqxm/AABqGk_lVGr0GsH3Tx-yjld6a?dl=0

COMPS: https://www.dropbox.com/s/cq0ul7uf51297ea/MLS%20Sold%20Comparables%20for%202150%20N.%20Coldspring%20Rd.%2C%20Arlington%20Heights%2C%20IL.pdf?dl=0

We will be conducting showings until the deal is sold. The deal goes to the first person to sign the assignment of land trust agreement and remit the assignment fee. If you are a wholesaler interested in marketing this deal, you must get our explicit approval before doing so. Please let us know if you have any questions or interest as this one will not last long.

Hello BP!

We have available for immediate assignment a frame 2-unit in North Chicago, just blocks away from the lake front and the North Chicago Metra Station.

1811 Park Ave, North Chicago, IL 60064

Price: $80,000

Estimated ARV: $115,000

Taxes: $1,856

Property Size: 1,828 sq. ft.

Lot Size: 5,000 sq. ft.

Units: 2 (3 bedrooms, 1 bath each)

Proforma GOI: $25,200

Estimated NOI: $19,000

Estimated Cap Rate: 18%+

Details: This frame 2-unit was rehabbed recently to rental grade quality and is currently vacant. Each unit has separate utilities. One of the furnaces is newer and the other is old and may need to be replaced. Units need to be cleaned and appliances provided (unless future tenants to provide). The property needs the rental inspection and certification from the city. Units can rent out for $1,050+ each.

Photos and Video Walkthroughs: https://www.dropbox.com/sh/899wmm4llb4zs0a/AAC3NyKVvQbPt7KW61A_ok1ca?dl=0

MLS Sold Comparables: https://www.dropbox.com/s/htng30efujhmxyn/MLS%20Sold%20Comparables%20for%201811%20Park%20Ave.%2C%20North%20Chicago%2C%20IL%2060064.pdf?dl=0

Documents: https://www.dropbox.com/sh/2yr18snai5w8swf/AADtfbDV8YJF7HfU89oVBR3Ga?dl=0

The deal goes to the first person to sign the assignment of contract and remit the assignment fee. If you are a wholesaler and are interested in marketing this property, you need to ask for our explicit approval before doing so. We will conduct one group showing unless the deal sells sight unseen.

Be careful with these low value loans as they can trigger and fail a High Cost Loan test. Huge headache for lenders.