All Forum Posts by: Rahman Ch

It’s a commercial building so commercial zoning. it used to be a medical office building but now half  gutted and needs a lot of work. I’ve tried everything and it’s just sitting there empty and accumulating taxes.

Hi,

I have an empty commercial building in rough neighborhood(near corner of Kedzie and Cermak Road in Chicago) and its 6500 sq ft. 

We would have liked to sell it but it's been a tough sell. We have tried renting it, but the building needs a lot of work. Any ideas what can be done with it? I'm not sure we should put any more money into it but at the same time it is just sitting there and we are paying taxes on it. Any input would be greatly appreciated. Thanks.

We wanted to sell, but it's been tough trying to find a buyer. We just don't have time to take care of it as we live far away from it. We just don't have time to take care of it.

It's a commercial building on corner of Cermak and Kedzie in Chicago. It needs a lot of work, half side was gutted, there was a plumbing issue prior, and its not in a good shape.

I have an empty 6k foot building in a rough city of Chicago area. Was wondering if anyone had any ideas for what to do with the building? It is in dire need of fixes. What are my options?

Thanks so much for the information Kevin, I am a new in the regards of lending and really need to read a bit more.

I am a new investor. I am able to pay my mortgages and what not but I figured perhaps it would be good to take advantage of these programs for a little bit but was worried on the effect that it would have on my credit. Thanks for shedding light on the matter.

I do really want to invest during these times, do you have any advice in securing lending? I know a lot of the hard money has been affected from what I hear. I was probably going to go the conventional mortgage route. How is that lending market now? What do you foresee happening? I've heard stories of people recently trying to close and the lender backing out. Any tips?

Thanks Kevin.

Hi, does anyone have any knowledge in regards to the deferred loan programs? I have heard that you can defer for three-four months, but are there any penalties associated with this? Would this impact your ability to get lending if you wanted to purchase something during this coronavirus pandemic? 

I wanted to defer but I don't want it to affect my ability to purchase during this time as I feel it is now a buyers market. Any information would be helpful. Thanks.