NO MONEY DOWN - 7 N High
Hotel or Residential conversion of solid building in the heart of the City.
Marketing description
A very well maintained 4 story building at the center of Belleville, IL, steps from the County Courthouse. The tallest building in the area allows for a AT&T cell tower on the roof. The Buyer could sell these rights for $565,000 at Closing and use the money as their down payment, plus have extra for improvements.
This Broker would convert the 4 story building to a boutique Hotel, roughly 70+ units.
The attached 2nd building is 1.5 stories. The main level of this building could be used as the lobby, check-in desk for the hotel, as well as a potential restaurant and bar.
A lot of upside with this building.
Tuckpointing, electric and plumbing all done in 1993. Elevator, roof and HVAC units also done at that time.
Investment highlights
Introducing a prime investment opportunity at an unbeatable location! Welcome to 37,000 sqft of potential in the heart of Belleville IL, located at 7 N High. With a sale price of $1,900,000, this property offers endless possibilities for mixed-use development.
Imagine the convenience of having residential units on the upper floors, office space on the second floor, and vibrant retail options on the first floor. The building is ready for transformation, with the added benefit of a rooftop lease with AT&T that can be sold for $565,000 at closing. This extra funding can be used for remodeling the third and fourth floors to your exact specifications.
Make the most of this opportunity with virtually no money down! Selling the rights to the cell tower at closing ensures a smooth financial journey. With an estimated gross income of approximately $100,000 in place, this investment has the potential for a robust return.
Market Square consists of two buildings and a spacious parking lot with 65 spaces, making it an ideal choice for businesses and residents alike. Don't miss out on this chance to invest in the future of 7 N High. Contact Terry Heimann, our knowledgeable Managing Broker at (618) 580-6390 or email [email protected] for more information. Act fast as opportunities like this don't last long!
Information herein is not warranted and subject to change without notice. We assume no liability on items included in quoted price. Broker makes no representation as to the environmental condition of the offered property and recommends Purchaser's/Lessee's independent investigation.
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