Zion Property Mortgage market

[Corina Eufinger]

Hello,

I am looking for info from those who may have purchased property in Zion, IL in the past year or so (which I expect few actually have).  

An owner of mine is leaving the business and selling off all his interests including Zion (one 8 unit, rest duplexes, SFRs). So far i haven't be able to convince him that in order to sell he will will mostly likely have to do owner financing.  The reason I believe he has to be open to it  is the low assessed value and high taxes. Has anyone recently purchased a property in Zion using a conventional loan or tried to?  

Can anyone offer guidance on whether a mortgage lender would consider these barriers to a obtaining a mortgage?

Thank you!

[Jacob Elbaum]

Hi Corina,

Feel free to reach out to me. I was very close to closing a property in Zion and then recently backed out of due to complications with the building. 

Thanks,

Jacob