I explained that no modifications would need to be done, and that the cash flow would be significant, not to mention the 60% equity there would be.

As relationships are vital in this community, I’m looking to introduce myself here and see ways to connect to other investors in Chicago.

Take this with a grain of salt, but given that many of the modifications you listed required your prior written approval, I'm surprised this specific action did not.

Just want to see some viewpoints on such a vital topic

Do you have a clause in your lease that states that (1) any modifications to the property must be approved in writing (2) any repairs must be approved (or made) by the landlord, or (3) any damage to the property, intention or otherwise, is the responsibility of the tenant?

Networking is vital here.

Having experts in this space on your team who can guide you as to the IRS rules as you invest with and operate an IRA owned LLC is vital.  

Just to make modifications and then I can present it to the Seller.

Even the most experienced investors can pick up tidbits of valuable information, not only that, the networking to build your network (also know as your networth) is vital and beneficial.People must understand that the main speaker should somehow be compensated for giving up their time making a valuable presentation and one of the ways to do that is to offer some sort of class or seminar at a fee.

I have the actual excel sheet I used to calculate everything out if I left out any vital info let me know and I can add more.