5230 W 159th
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5230 W 159th
8,000 SF 100% Leased Flex Building Oak Forest, IL 60452 $79,000 ($10/SF)
Executive Summary
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.
Another Opportunity From The Cook County Land Bank Authority
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.
Another Opportunity From The Cook County Land Bank Authority
Property Facts
| Price | $79,000 | Rentable Building Area | 8,000 SF |
| Price Per SF | $10 | No. Stories | 1 |
| Sale Type | Investment or Owner User | Year Built | 1975 |
| Property Type | Flex | Parking Ratio | 4.75/1,000 SF |
| Building Class | C | Clear Ceiling Height | 14 FT |
| Lot Size | 0.65 AC | No. Drive In / Grade-Level Doors | 1 |
| Price | $79,000 |
| Price Per SF | $10 |
| Sale Type | Investment or Owner User |
| Property Type | Flex |
| Building Class | C |
| Lot Size | 0.65 AC |
| Rentable Building Area | 8,000 SF |
| No. Stories | 1 |
| Year Built | 1975 |
| Parking Ratio | 4.75/1,000 SF |
| Clear Ceiling Height | 14 FT |
| No. Drive In / Grade-Level Doors | 1 |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $513,242 | |
| Land Assessment | $1,096,953 | Total Assessment | $1,610,195 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,096,953
Improvements Assessment
$513,242
Total Assessment
$1,610,195
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5230 W 159th
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