Heres the challenge: Presently 2 oil tanks there.

The property taxes on this building seem far to low for what properties typically pay in Cook County. 

One smaller note, Cook County just reassessed taxes and it's a pretty big bump (at least on my properties before I go to appeal). 

I will share it with , but please don’t tell anybody ...Anyway, he says in Iraq  prices are really low now, and cash flow is high... economy is improving plus they have oil= he says it will be next Saudi Arabia...He is selling few of his Phoenix properties and wants to invest a million dollars over there... he is open  for partnerships ...If u are interested, let me know I will tell him :)

One of the documents is a lease from 10 years ago to a statewide oil company. 

Kilz original oil based?

This type of tenant rarely calls the police on a landlord, and the police have better things to do.Providing a basic, sanitary, safe roof over their head, with heat, and a place to cook for a reasonable price, is not being a slumlord.  

Do your best to ascertain whether or not there is an oil tank, lead paint, asbestos, or other potential contaminants that can become personal liability even if the property is held in an LLC.

@Carey Cook Welcome. 

Cook at home, and don't be buying any steaks or lobster for the near term. :)