Commerical will focus on the asset itself.

We have tried selling it for 4 million, but can't get a solid offer.. the going rate for commerical buildings in the area is approx 400-500/sf the building is approx 15k sf making it a total of 6 million - 7.5 million compared to the 4 million that we can't even sell... anyone have any experience doing this?

Commerical lending doesnt allow for fixed 20-30 years, they're typically 5-10 year terms with 25 year ammo.

We are considering the following and I'd love some thoughts:1)Keeping it as - demoing and clean it all up and rent as 2 commerical units and an apartment2) Convert the entire building in to like 4-6 apartments and rent those out. 3) Open to other ideas.Thanks in advance.Brad

Should I look for a commerical realtor or keep my residental realtor?

Originally posted by @John Dean:I can’t find any plumbing materials here, almost all of my properties have 1 or more pipeGet accounts set up with commerical supply houses not the big box stores that consumers use.

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.

Hi Everyone,I am looking for suggestions that folks have had luck with in the past to get from ~10-15% figure to 20-25% (Say an additional 50k) to satisfy commercial lenders. There is a 7 unit MF property that just ca...

I am specifically interested Long-Term Holds/Rentals (local and long distance), Fix n flips, and both residential and commerical development projects.

I am specifically interested Long-Term Holds/Rentals (local and long distance), Fix n flips, and both residential and commerical development projects.