The owner of this vacant, approximately 95,512 sf former medical building set on 10.04 acres originally had purchased it with the intent of converting it into a trampoline park
1019 E Chicago St, Elgin Il
Privately Owned Real Estate
Sale Price: $4,000,000
The sale of this property was particularly challenging due to its large size, its 100% vacancy and its location on the border of two counties that had very disproportionate real estate property taxes (the property was in the county that has a much higher property tax level than the literally yards away, adjacent county).
The AW team was able to achieve a pre-auction sale price that was $1,500,000 over the owner’s published reserve price. This sale price not only was equal to the initial asking price for which the owners prior brokers had originally and unsuccessfully listed the property for sale, but also $1,100,000 more than the most recent asking price of the prior listing brokers.