401 Main St
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401 Main St
8,642 SF Retail Building Maywood, IL 60153 $128,000 ($15/SF)
Investment Highlights
- Most experienced observers of the Chicagoland area consider Maywood to be the next turn around story. The Mayor has initiated a transformation.
Executive Summary
c-2 Pedestrian oriented retail zoning.
This property is being offered for sale by the Cook County Land Bank Authority https://www.cookcountylandbank.org/.
This is not a traditional sale.
Differences:
You must apply on the CCLBA Website prior to touring property.
You will be vetted for outstanding Cook County Real Estate Taxes, Judgements, and Liens.
Once approved to tour, it is highly recommended to bring a contractor with you because these properties have typically been vacant for several years and need substantial rehabilitation.
You will need a contractor’s estimate to bring property to occupancy permit.
You will need a letter or email of support from the Village or City.
You will need to show the CCBA funds to acquire and rehab the property.
The Real Estate taxes on these properties are typically very high on a per foot basis. You will need a strategy to address this. Contact your Commercial Real Estate Tax Attorney to discuss.
Buying properties from the CCLBA is similar to buying properties at below foreclosure pricing.
Buyers pay their own brokers directly.
Similarities:
I am here to help you navigate through the process.
This property is being offered for sale by the Cook County Land Bank Authority https://www.cookcountylandbank.org/.
This is not a traditional sale.
Differences:
You must apply on the CCLBA Website prior to touring property.
You will be vetted for outstanding Cook County Real Estate Taxes, Judgements, and Liens.
Once approved to tour, it is highly recommended to bring a contractor with you because these properties have typically been vacant for several years and need substantial rehabilitation.
You will need a contractor’s estimate to bring property to occupancy permit.
You will need a letter or email of support from the Village or City.
You will need to show the CCBA funds to acquire and rehab the property.
The Real Estate taxes on these properties are typically very high on a per foot basis. You will need a strategy to address this. Contact your Commercial Real Estate Tax Attorney to discuss.
Buying properties from the CCLBA is similar to buying properties at below foreclosure pricing.
Buyers pay their own brokers directly.
Similarities:
I am here to help you navigate through the process.
Property Facts
Sale Type
Investment or Owner User
Sale Condition
High Vacancy Property
Property Type
Retail
Property Subtype
Auto Repair
Building Size
8,642 SF
Building Class
C
Year Built
1960
Price
$128,000
Price Per SF
$15
Tenancy
Single
Building Height
1 Story
Building FAR
0.99
Lot Size
0.20 AC
Zoning
C-2 - Pedestrian oriented retail
Frontage
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 15-11-136-013-0000 | Improvements Assessment | $375,200 |
| Land Assessment | $80,000 | Total Assessment | $455,200 |
PROPERTY TAXES
Parcel Number
15-11-136-013-0000
Land Assessment
$80,000
Improvements Assessment
$375,200
Total Assessment
$455,200
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401 Main St
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