Updated almost 8 years ago on . Most recent reply
Bidding on a multitenant retail 5 storefrons, land value too high
Bidding on a multitenant 5 store fronts building in Chicago (Built up area 6375 sq ft, total land area is 9750 sq ft) . Received sales package from seller's realtor. Asking price is $80/sq feet for the building while land value is listed at $56/square foot. Is that normal/correct? Land value seems too high in commercial while land value is at a very low percentage in residential in comparison to building on the land.
Please respond. Putting a bid soon.