REAL ESTATE FINANCE/INVESTMENT $400K USD

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#101

From: Michael Sims
Date: Mon, 05 May 1997 00:00

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Currently in search of financing for a 7 unit apartment over retail
building located in Joliet, Illinois, 35 miles southwest of Chicago CBD.The
Particulars are as follows:

525,000     Purchase Price
400,000     Loan/Investment Amount
  85,000     Purchaser Money Mortgage
  40,000     Purchaser's Equity

76,500     Actual Annual Gross Income
19,250     1996 Actual Operating Expenses
57,250     Net Operating Income

Additionally, the Purchaser will be operating a business in one of the
three retail spaces.  The net operating income from the business is $51,200
per year with a 13 year operating history.

The Catch is Purchaser has had a Bankruptcy approximately 12 Months ago.

Please direct all responses to:

Paul R. Strahanoski
I.R.E. Realty
16 W. Van Buren, Suite 100
Joliet, Illinois  60432
815-723-0938 Voice
815-723-1253 Fax
Paulstra@irerealty.com Email
http://irerealty.com

Photo of Building:

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Technical Details

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From: "Michael Sims" <Msims@irerealty.com>
Subject: REAL ESTATE FINANCE/INVESTMENT $400K USD
Date: 1997/05/05
Message-ID: <01bc5997$1e61f040$105485d0@ns1.megsinet.net>
X-Deja-AN: 239581995
Organization: I.R.E. Realty
Newsgroups: alt.building.finance,bermuda.business.financial,pdaxs.services.financial,realtynet,realtynet.canada-intl,realtynet.commerccial,realtynet.commercial,realtynet.general,realtynet.invest,sb.finance,sb.finance.desk,uk.finance