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Residential Vacant Land (2 Lots) Lot Size: 5,501.63 SqFt (each lot approximately 2,750.8 SqFt)
(Lots 13 & 14, Blk 2, Washington Heights Annex Sec 1)
Other Details: Two contiguous lots ideal for new construction (duplexes or single-family new builds). Located in Washington Heights Annex Sec 1, an active redevelopment area with new builds selling in the mid to high $300Ks. Utilities nearby; no structures currently on site.Closing Date (COE): 1/6/25 or before
Title Company: Chicago TitleEarnest Money Deposit (EMD): $3,000COMPS:8421 Venus St A/B – Sold 07/10/2024 – $700,000 – 2,748 SqFt – 6 Bed / 4 Bath (new duplex on identical lot)8112 Carver Rd – Active – $459,999 – 2,530 SqFt – 4 Bed / 4 Bath (new duplex nearby, similar product type)
Commentary: Both comparable properties were new duplex constructions on similar-sized 5,500 sqft lots within the same subdivision. 8421 Venus A/B provides the strongest indication of end-value as it was built on the adjacent parcel. Carver Rd is slightly smaller and priced lower, but it supports strong demand for new duplex product in this area.
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Disclaimer:
House is being sold as-is, and the buyer is to pay all closing costs. 5,000 EMD. Non-Refundable earnest money to be deposited within the same business day contract is executed or the contract will be canceled. Buyer must close with cash or a hard money loan.
The buyer is not relying on any representations, whether written or oral, regarding the properties above. Price based on a cash or hard money offer and is net to seller. Buyers to do their own independent due diligence.
Buyer must do your own due diligence, evaluation and inspection prior to making an offer. Determining value is the buyer’s responsibility. Seller strongly recommends buyers employ an Investment Realtor to help determine value. Any reference to the value of a property by the Seller or any representative of the Seller is an opinion of value. Everyone has a differing opinion on value, cost of construction, materials, quality of workmanship and market speculation. Value is ultimately the buyer’s responsibility and they should be diligent in determining market value.
REALTORS:
If you are currently working with a client, and wish to receive a commission, please note that the wholesale price does not include your commission. You may want to negotiate a commission with your client separate from the wholesale price or you may adjust the wholesale price upwards to include your commission.
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