Real Estate Broker · North Aurora, IL · Member since 2014 · 130 posts · 82 votes
Hello! I own a small multifamily property in Hinckley, IL, which is about 25 minutes west of Aurora, IL. The property is in Dekalb County, west of Kane County.
The property is currently vacant although there are a few units ready to rent. The property is a motel building with single room type units. There is also a detached cottage on the property that needs total rehab. Individual Units will rent for $650 gross.
The property needs some work but would be a super opportunity for the right investor. This is a tremendous cash flow opportunity. The County of DeKalb is okay with future development on the remainder of the parcel via a PUD, or Planned Unit Development, which opens up the property to all sorts of opportunities, from self storage, to (future) retail, to mixed use.
I do not have the time to work on this property and have my hands full with other projects. The property is currently listed on the MLS for $25,000 and I would be willing to take less for a quick close cash offer.
I will also consider owner financing with 60k down on a 3 yr note at 8%. I am flexible and open to options.
Please message me, call me on my cell (630-870-9479) or email me ([email protected]) if you would like to view the property or if you have any questions.