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Illinois Commercial Property Sales Package

Property Sales Form

Name: Illinois Commercial Property Sales Package
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.85 (249 reviews)

Category:

Illinois Real Estate - Commercial

State:

Illinois

Control #:

IL-P021-PKG

Format:

Instant download

Description Illinois Property Buy

With this Commercial Property Sales Package, you will find many of the forms that are part of closing a commercial real estate transaction.

Included in your package are the following forms:

1. A Contract for the Sale and Purchase of a Commercial Lot or Land without a Broker;
2. A Option for the Sale and Purchase of a Commercial Building;
3. A Option for the Sale and Purchase of a Commercial Lot or Land;
4. An Addendum for Environmental Assessment of Threatened or Endangered Species or Wetlands;
5. An Addendum for Continued Marketing of Property by Seller due to Contingencies;
6. An Exchange Addendum to Contract for Tax Free Exchange under Section 1031;
7. A Tax Free Exchange Agreement pursuant to Section 1031; and
8. A Fixed Rate Promissory Note Secured by Commercial Real Estate.

Purchase this package and save up to 30% over purchasing the forms separately!

Illinois Real Estate Home Sales Package with Offer to Purchase, Contract of Sale, Disclosure Statements and more for Residential House

View this form

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Sales Package Form Form Rating

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Illinois Property Document Other Form Names

Illinois Property Agreement Il Sales Form Illinois Property File Illinois Property Order Commercial Property Sales Form Agreement Illinois Property Template Illinois Property Statement

Illinois Commercial Form FAQ

Figure Out Your Goal for the Project. Create a Property Level Financial Model for the Deal. Create a Model Based on Your Proposed Deal Structure With Your Investor. Adjust Your Proposed Structure So That the Deal Would Make Sense for You to Do.

An introduction paragraph: a brief sentence or two stating what the letter's purpose is. Involved parties, including the buyer's and seller's names and contact information. A property description, including the address and possibly the legal description.

The Person Liable for the Lease. Your Business Structure. How Long You Have Been in Business. The Nature of Your Business. Contact Information. Your Proposed Terms (or, Counter Offer) The Length of the Lease. Condition of the Property.

Know Your Needs. The first step in an effective negotiation is to have a firm grasp on what you need out of the lease or sale. Set Budget Beforehand. Now that you have a general idea of what you're looking for, it's time to set a budget. Due Diligence. Making an Offer. Treat All Parties With Respect.

While a TDS is not mandated for commercial property sales, commercial buyers are still protected by common law disclosure requirements.

A good rental yield tends to be upwards of 5% and around 8% is particularly strong.

#1 Work with a Commercial Real Estate Broker. #2 Sell It Fast to an Investor (aka Cash Property Buyer) #3 Sell It By Owner Using a Professional Appraiser. Three Approaches to Commercial Property Appraisal. Create a Marketing Package. Where to Advertise Your Commercial Property.

The Income Approach Also referred to as the Income Capitalization Approach, this tactic is the one most commonly used in commercial real estate transactions. The value is established here by estimating the property's income using the capitalization rate (commonly referred to as merely the cap rate).

Property Sales Form

Description Illinois Property Buy