Looking For Equity Partners
100,000 square feet of industrial space in Chicago. Purchase price just over $15 per foot. 50% leased with 1.3 DCR on day one. The idea is to divide and lease the remaining space then refinance. Have a track record of similar buildings nearby so I can show you how the finished product works.
Purchase, $1.65 million
Renovation $2.0 million
ARV $7.million
Turnaround time 3-4 years.
Looking to raise additional $250,000 to supplement funds already committed.
Would take subscriptions as low as $25,000 but would prefer $50,000.
[ Edited by commercialking on Date 09/21/2008 ]
Chet--
I have sent you an e-mail. Any other takers?
Mark
Just curious. How did this pan out?
Would you mind sending more info on your project, my fund is doing construction and rehab type deals right now and we may be able to help you.