You also want to check the state's database to make sure they don't have the site on their radar for past environmental issues that have not been resolved.

No environmentally conscious person will get behind this as a great new way forward.

Without a outdoor air exchanger you may have environmental issues/air quality.

How about the $10k appraisal fee/environmental report?

Or any other environmental requirements?

Age of systems and major components, upcoming repairs, any zoning/legal/environmental issues, years left on the leases, reason for selling, surrounding area and potential to find new tenants at same/better rents, lease terms (who pays for repairs, taxes, etc.) etc.

Clearly, a property with poor visibility filled with a lot of mom and pop, non-credit tenants will trade at a higher cap rate than the primary retail corner with all national credit tenants.Your phase 1 is important, and may require a phase 2, if there is any indication of environmental issues.  

So called environmentally friendly power generation systems have a place - but we shouldn't place our main power generation into these type of systems until their reliability is more of a fact and less of a promise.   

You can use the Easy Permit Process for the following project types:Inside the BuildingDrywall Replacement (greater than 1,000 square feet)Exterior Doors*Fire Damage (buildings with 24% damage or less, require demolition inspection approval and a separate electrical permit)Furnaces (replacement of existing gas-fired only in all commerical buildings and residential buildings with 4 or more dwelling units)*Existing Plumbing Fixture ReplacementElectrical Work (requires an electrical contractor)**Counter Top and Cabinet Replacement (required for condos only)Outside the BuildingDoors/Window Replacement (4 dwelling units or more, if same size, same location)*Fences (non-masonry fences greater than 5 ft. in height or masonry walls of any height)*Sheds greater than 150 square feetDetached frame garages, up to 600 square feet in area, without rooftop deck*Trash enclosure (wood only)Porch repair (if a violation report says permit for repairs only)Masonry work (mason contractor required)Tuckpointing (mason contractor required, masonry cleaning and grinding require a pollution prevention permit from CDPH)Roofs (If adding a layer, a general contractor or primary owner can perform the work)*Roofs (If total tear-off, must employ Illinois-licensed roofing contractor)Lintel repairs (6’-0” opening maximum, mason contractor required)Scaffolding (an easy permit can be received the same day if the work over the public way has been approved by the Chicago Department of Transportation) * For this project type in an all-residential building, the easy permit may be obtained online.** Electrical permits may be obtained online by licensed electrical contractors only.

When I walk a property the first things in look for are roofs, foundation issues, termite damage, environmental issues, septic issues etc.