FORECLOSURE ACQUISITION BINDER Christian Chase - Foreclosure Agent at Chase Real Estate 630-527-0095 Office 630-484-5534 Mobile christian.chase@mychaseagent.com www.ChaseForeclosure.com
Property Address:
1325 HIALEAH LN
City:
HANOVER PARK
Zip:
60133
After Rehab Value (ARV):
169,000
Purchase Price:
110,989
Rehab Estimate:
12,800
Rental Estimate:
1,489
INVESTMENT STRATEGY FOR SUBJECT PROPERTY Rehab and Sell Rehab and Rent
ATTACHED DOCUMENTATION Pro Forma Rehab & Sell Pro Forma Rehab & Rent Comparative Market Appraisal
NOTES:
Property can be Flipped (Low Market Time) - Nice Cash Flow After Cash-Out
Print Form
Mortgage payment (interest only) Taxes Insurance Association Dues Utilities Monthly carrying costs
PROFIT CALCULATION Selling price: Less: Purchase price Less: Rehab Less: Carrying costs Less: Commission Less: Closing costs on purchase Less: Closing costs on sell Profit: Rate of return on money invested
$511.01 $476.25 $33.33 $0.00 $50.00 $1,070.59
INPUTS: Appraised value Selling price Purchase Price Annual Taxes Monthly Association Dues Rehab Homeowner's Insurance Closing costs on purchase Interest rate during rehab Loan amount during rehab (85% loan) Points paid on loan
$169,000.00 -$110,989.00 -$12,800.00 -$5,352.97 -$5,070.00 -$3,000.00 -$2,000.00 $29,788.03 78.8%
Summary: Down payment (85% loan) Rehab Closing costs on purchase Carrying costs Total dollars required:
FOR DEMONSTRATION PURPOSES ONLY - RESULTS NOT GUARANTEED
$169,000.00 $169,000.00 $110,989.00 $5,715.00 $0.00 $12,800.00 $400.00 $3,000.00 6.50% 94,340.65 0.00
$16,648.35 $12,800.00 $3,000.00 $5,352.97 $37,801.32
Interest only payment Taxes Insurance Association Dues Total Payment less: Rent Cash Flow
Rehab Period $511.01 $476.25 $33.33 $0.00 $1,020.59
APPRECIATION CALCULATION Appreciation Percentage Initial Appraised Value
5.00% $169,000.00
End of Yr 1 Value End of Yr 2 Value End of Yr 3 Value
$177,450.00 $186,322.50 $195,638.63
PROFIT CALCULATION Cash Inflow Selling Price Yr. 3 3 Years of Cash Flow Subtotal of Inflows Cash Outflow Less: Commission on Sale Less: Closing Costs on Sale Less: 3 Yrs of Repairs Less: Carrying Costs Less: Back-end Rehab Subtotal of Outflows Gross Inflow Less: Current Loan Gross Profit Less: Money in Property Less: Deposit Returned Profit:
Rental Period $732.33 $476.25 $33.33 $0.00 $1,241.91 $1,489.00 $247.09
Interest rate during rehab Interest rate during rental period Loan amount during rehab (85% loan) Loan amount during rental period Points paid on loan
Money tied up: Appraised value: Cash out % New loan amount Minus original loan
$195,638.63 $8,895.12 $204,533.75 -$5,869.16 -$3,000.00 -$1,800.00 -$3,725.74 -$4,000.00 -$18,394.90 $186,138.85 -$135,200.00 $50,938.85 $1,059.03 -$1,489.00 $50,508.88
INPUTS Appraised value Selling price Purchase Price Annual Taxes Monthly association dues Rehab Homeowner's Insurance Section 8 Rent
(90 days to sell)
Points on refi Closing costs on refi Cash out Upfront money Money in property during rental period
$169,000.00 $169,000.00 $110,989.00 $5,715.00 $0.00 $12,800.00 $400.00 $1,489.00 6.50% 6.50% $94,340.65 $135,200.00
$169,000.00 80% $135,200.00 -$94,340.65 $40,859.35 1 -$2,000.00 $38,860.35 $37,801.32 -$1,059.03
* Investor retains tax write offs for mortgage interest and depreciation, property taxes FOR DEMONSTRATION PURPOSES ONLY - RESULTS NOT GUARANTEED
Comparative Market Analysis Property At: 1325 HIALEAH LN Prepared For: Chase Investor
Prepared By: Christian Chase Chase Real Estate, LLC
Office Phone: (630) 527-0095 Direct Line: (630) 527-0095 Personal Fax Number: (630) 701-1030 Email: christian.chase@mychaseagent.com
Prepared By: Christian Chase Chase Real Estate, LLC
Subject Property
Street Number: 1325 Street Name: HIALEAH Street Suffix: LN City: Hanover Park State: Illinois Zip Code: 60133 Total # Of Rooms: 9 Bedrooms: 4 Bathrooms: 2 Lot Size: Oversized Chicago Lot Type of House: Split Level Dining Room: Separate Living Room Size: 23X10 Master Bedroom Size: 17X11 Basement: None Garage Type: 2.5 Car Garage Parking: Off Street Age: 26-50 Years Exterior Building Type: Aluminum/Vinyl/Steel Siding Elementary Sch Dist: 20 High Sch Dist: 108
Prepared By: Christian Chase Chase Real Estate, LLC
Short/All Photos (Thumbnail) - Client 1600 BEVERLY Court, Hanover Park 60133
LP: $144,900
SP: $145,000 (F)
PROPERTY INFORMATION Type: DE Status: CLSD MLS #: 07401836 Area: 103 Bdrms: 4 Year Built: 1972 Baths: 2 Taxes: $5,400 Rms: 8 Approx SF: Fplcs: 1 Master Bath: No Type: Split Basement: Yes Level Park Type: Garage #Cars: 1 Lot Dimensions: 62X169 Subdivision: Greenbrook Directions: LAKE TO GREENBROOK S TO ARLINGTON RT 2 ANDOVER 2 BEVERLY
GREAT INVESTMENT PROPERTY / BEING SOLD IN "AS IS" CONDITON / PROOF OF FUNDING MUST ACCOMPANY ALL OFFERS / PREAPPROVALS NOT PRE-QUALIFICATION LETTERS / EARNEST MONEY MUST BE CERTIFIED FUNDS / FAX ALL OFFERS TO THE OFFICE / NO EMAILS PLEASE. Christian Chase Chase Real Estate, LLC (630) 527-0095 1315 Macom Drive, Unit #001 Naperville, IL 60564 christian.chase@mychaseagent.com
Prepared By: Christian Chase Chase Real Estate, LLC
Short/All Photos (Thumbnail) - Client 5502 Cooper Court, Hanover Park 60133
LP: $149,900
SP:
PROPERTY INFORMATION Type: DE Status: CTG MLS #: 07365892 Area: 103 Bdrms: 3 Year Built: 1972 Baths: 1.1 Taxes: $4,469.90 Rms: 6 Approx SF: Fplcs: Master Bath: No Type: Split Basement: Yes Level Park Type: Garage #Cars: 1 Lot Dimensions: 11,324' Subdivision: The Trend Directions: Country Farm to Greenbrook E to Hardy turn on Celebrity and to Cooper.
3 bedroom, 1-1/2 baths split level. Large lot with above ground pool. Finished basement with half bath. All appliances included. Some new windows. Living room wtih sliding door to back yard with pool. Garage turned into exercise room (12x12). Easily converted back to garage. New shopping and expressway. Great price for subdivision. Some updates needed. Short sale. Christian Chase Chase Real Estate, LLC (630) 527-0095 1315 Macom Drive, Unit #001 Naperville, IL 60564 christian.chase@mychaseagent.com
Prepared By: Christian Chase Chase Real Estate, LLC
Short/All Photos (Thumbnail) - Client 5505 Crosby Court, Hanover Park 60133
LP: $182,000
SP: $162,000
PROPERTY INFORMATION Type: DE Status: CLSD MLS #: 07438888 Area: 103 Bdrms: 3 Year Built: 1970 Baths: 2 Taxes: $4,747 Rms: 7 Approx SF: 1500 Fplcs: Master Bath: Yes Type: 1 Story Basement: No Park Type: Garage #Cars: 1 Lot Dimensions: 42X144X24X124X101 Subdivision: The Trend Directions: County Farm to Greenbrook Blvd E to Star, S to Celebrity Cir. (left) E&S to Crosby Ct.
Located on a quiet cul-de-sac at the back corner of the subdivision. This home has views of the Dupage river &Mallard Lake Forest Preserve. Updated kit. w/add'l cabinets, breakfast bar &neutral stone tile floor extending to the entry. New roof in '07, windows in '04 &'06. Large mstr suite includes br2 of floor plan; could be restored. Open floor plan with 1/2 wall between sunken liv rm & dining area. Fenced yard. Christian Chase Chase Real Estate, LLC (630) 527-0095 1315 Macom Drive, Unit #001 Naperville, IL 60564 christian.chase@mychaseagent.com
Prepared By: Christian Chase Chase Real Estate, LLC
Short/All Photos (Thumbnail) - Client 5767 S RING Court, Hanover Park 60133
LP: $165,000
SP: $163,000
PROPERTY INFORMATION Type: DE Status: CLSD MLS #: 07442199 Area: 103 Bdrms: 4 Year Built: UNK Baths: 2 Taxes: $5,558 Rms: 9 Approx SF: Fplcs: 1 Master Bath: No Type: Split Basement: Yes Level w/ Sub Park Type: Garage #Cars: 2 Lot Dimensions: 62X125 Subdivision: Directions: LAKE TO GREENBROOK S TO ARLINGTON W TO RING
BEAUTIFUL CLEAN AND BRIGHT HOME. FRESHLY PAINTED, NEW CABINETS, APPLIANCES, CARPET AND FLOORS. REMODELED BATHROOMS AND KITCHEN. THIS HOME IS ALOT BIGGER THAN WHAT IT LOOKS LIKE. FINISHED BASEMENT WITH BATHROOM AND EXTRA BEDROOM. HUGE BACK YARD FOR THE SUMMER ENJOYMENT NOTHING TO DO BUT JUST MOVE IN. THE BEST HOME IN THE AREA FOR THE MONEY. IF YOU NEED A QUICK CLOSING THIS IS THE HOME. Christian Chase Chase Real Estate, LLC (630) 527-0095 1315 Macom Drive, Unit #001 Naperville, IL 60564 christian.chase@mychaseagent.com
Prepared By: Christian Chase Chase Real Estate, LLC
Short/All Photos (Thumbnail) - Client 5703 RING Court, Hanover Park 60133
LP: $175,900
SP:
PROPERTY INFORMATION Type: DE Status: RACT MLS #: 07488093 Area: 103 Bdrms: 4 Year Built: 1972 Baths: 2 Taxes: $3,770 Rms: 9 Approx SF: Fplcs: 1 Master Bath: Yes Type: Raised Basement: Yes Ranch Park Type: Garage #Cars: 2 Lot Dimensions: 120X58X147X125 Subdivision: Greenbrook Directions: COUNTY FARM TO ARLINGTON (E) TO RING (S) TO HOME
Over $15,000 spent in May. Including:carpet*paint*doors*bth sink/counter & toilet on lower level. Siding & soffits, furnace in '08. Great big fenced yd with a deck, patio, shed & oversized 2 car att garage. Big living rm w/sep fomal din rm and an eat in kit that opens to the deck. On the lower level there is a fam rm that is great 4 entertaing and and the 4th bdrm and bth. Bring your dec touches for the 1st floor. Christian Chase Chase Real Estate, LLC (630) 527-0095 1315 Macom Drive, Unit #001 Naperville, IL 60564 christian.chase@mychaseagent.com
Prepared By: Christian Chase Chase Real Estate, LLC
Short/All Photos (Thumbnail) - Client 5883 E ANDOVER Drive, Hanover Park 60133
LP: $179,900
SP:
PROPERTY INFORMATION Type: DE Status: NEW MLS #: 07555697 Area: 103 Bdrms: 4 Year Built: 1971 Baths: 2 Taxes: $5,407 Rms: 8 Approx SF: 1268 Fplcs: Master Bath: No Type: Raised Basement: Yes Ranch Park Type: Garage #Cars: 2 Lot Dimensions: 13517 SQ FT Subdivision: Greenbrook Directions: Route 20 to Greenbrook to Arlington to Andover
Do not wait, or this move in condition raised ranch home will be gone! Property has fresh paint and new carpeting. Property has a nice size back yard waiting for its new owners. If closed by 6/30/2010, the seller will entertain up to 3.5% in a mix of closing costs and/or appliances. The is a Fannie Mae Homepath Property. This property is approved for both Homepath and Homepath renovation mortgage financing. Christian Chase Chase Real Estate, LLC (630) 527-0095 1315 Macom Drive, Unit #001 Naperville, IL 60564 christian.chase@mychaseagent.com
Prepared By: Christian Chase Chase Real Estate, LLC
Short/All Photos (Thumbnail) - Client 5701 Bedford Court, Hanover Park 60133
LP: $189,900
SP:
PROPERTY INFORMATION Type: DE Status: PCHG MLS #: 07500082 Area: 103 Bdrms: 4 Year Built: 1977 Baths: 2 Taxes: $5,762 Rms: 8 Approx SF: Fplcs: Master Bath: No Type: Split Basement: No Level Park Type: Garage #Cars: 2 Lot Dimensions: 83X1250X134X101 Subdivision: Greenbrook Directions: 20/Greenbrook/Arlington R/Andover R/ Beverly R/Bedford
BIG BIG split w/3 Bedrooms up and Family Room with Full Bath & Bonus Bedroom!! Granite Counters - Laminate Floors - 3 Season Room~~ Fully Applianced incl W & D!! Pool & Clubhouse $29.00 per month! Lake Park School District!! SOLD AS-IS /NO TAX PRORATION/NO SURVEY PROVIDED Walk to Shopping!! and Fresh Food Market!! Christian Chase Chase Real Estate, LLC (630) 527-0095 1315 Macom Drive, Unit #001 Naperville, IL 60564 christian.chase@mychaseagent.com
Prepared By: Christian Chase Chase Real Estate, LLC
Comparables Subject Property
1325 HIALEAH LN Address: Hanover Park, Illinois 60133
Comp #1
Adjustment Comp #2
Adjustment Comp #3
Adjustment
1600 BEVERLY CT Hanover Park, Illinois 60133
5505 Crosby CT Hanover Park, Illinois 60133
5767 S RING CT Hanover Park, Illinois 60133
MLS #:
07401836
07438888
07442199
Status:
CLSD
CLSD
CLSD
$144, 900
$182, 000
$165, 000
$145, 000 (F)
$162, 000
$163, 000
03/15/2010
04/23/2010
03/19/2010
List Price: Sold Price: Closed Date: Total # Of Rooms: 9
8
7
9
Bedrooms - Above Grade: 4
4
3
4
Total Full/Half Baths: 2
2
2
2
Greenbrook
The Trend
.25-.49 Acre
Less Than .25 Acre
Subdivision: Lot Size: Oversized Chicago Lot Approx Sq Ft:
Less Than .25 Acre
1500
Type of House: Split Level
Split Level
Dining Room: Separate
1 Story
Split Level w/ Sub
Separate
Separate
Living Room Size: 23X10
18X14
14X12
13X17
Master Bedroom Size: 17X11
12X16
23X12
15X12
Model:
Coronado
Basement: None
Partial, Finished
Garage Type: 2.5 Car Garage
Parking: Off Street Age: 26-50 Years Aluminum/Vinyl/Steel Exterior Building Type: Siding Elementary Sch Dist: 20 High Sch Dist: 108 Short Sale/Foreclosed/Court Approved:
Full, Finished
Attached, 2 Car Garage
Attached, 1.5 Car Garage, Garage Door Opener(s) (Auto), Transmitter(s)
None/Not Applicable
Off Street
Off-Site
26-50 Years
26-50 Years
26-50 Years
Aluminum/Vinyl/Steel Siding
Frame, Masonite
Aluminum/Vinyl/Steel Siding
20
20
20
108
108
108
$15000 N/A
N/A
F Total Adjustments:
Adjusted Price:
Prepared By: Christian Chase Chase Real Estate, LLC
$7000 Attached, 2.5 Car Garage
$15000
$7000
$0
$160000
$169000
$163000
Comparables (continued) Subject Property
1325 HIALEAH LN Address: Hanover Park, Illinois 60133
Comp #4
Adjustment Comp #5
Adjustment Comp #6
Adjustment
5502 Cooper CT Hanover Park, Illinois 60133
5703 RING CT Hanover Park, Illinois 60133
5883 E ANDOVER DR Hanover Park, Illinois 60133
MLS #:
07365892
07488093
07555697
Status:
CTG
RACT
NEW
$149, 900
$175, 900
$179, 900
Total # Of Rooms: 9
6
9
8
Bedrooms - Above Grade: 4
3
4
4
$5000 2
2
List Price: Sold Price: Closed Date:
Total Full/Half Baths: 2
1.1
Subdivision: Lot Size: Oversized Chicago Lot
The Trend
Greenbrook
Greenbrook
.25-.49 Acre
Less Than .25 Acre
.25-.49 Acre
Approx Sq Ft:
1268
Type of House: Split Level
Split Level
Raised Ranch
Raised Ranch
Dining Room: Separate
L-shaped
Separate
Separate
Living Room Size: 23X10
16X14
18X16
14X13
Master Bedroom Size: 17X11
12X14
15X12
13X12
Balboa
Spacemaker
Full, Finished
Full, Finished
Full, Finished
Attached, 1 Car Garage
Attached, 2 Car Garage, 2.5 Car Garage
Attached, 2 Car Garage
Off Street, On-Site
None/Not Applicable
On-Site
26-50 Years
26-50 Years
26-50 Years
Aluminum/Vinyl/Steel Siding
Aluminum/Vinyl/Steel Siding
Frame
20
20
20
108
108
108
Model: Basement: None Garage Type: 2.5 Car Garage Parking: Off Street Age: 26-50 Years Exterior Building Type:
Aluminum/Vinyl/Steel Siding
Elementary Sch Dist: 20 High Sch Dist: 108 Short Sale/Foreclosed/Court Approved: Total Adjustments:
Adjusted Price:
Prepared By: Christian Chase Chase Real Estate, LLC
$5000
$0
$0
$154900
$175900
$179900
Comparables (continued)
Address:
Subject Property
Comp #7
1325 HIALEAH LN Hanover Park, Illinois 60133
5701 Bedford CT Hanover Park, Illinois 60133
MLS #:
07500082
Status:
PCHG
List Price:
Adjustment
$189, 900
Sold Price: Closed Date: Total # Of Rooms: 9
8
Bedrooms - Above Grade: 4
4
Total Full/Half Baths: 2
2
Subdivision:
Greenbrook
Lot Size: Oversized Chicago Lot
Less Than .25 Acre
Approx Sq Ft: Type of House: Split Level
Split Level
Dining Room: Separate
L-shaped
Living Room Size: 23X10
22X13
Master Bedroom Size: 17X11
16X12
Model:
Malibu
Basement: None Attached, 2.5 Car Garage, Garage Door Opener(s) (Auto), Transmitter(s)
Garage Type: 2.5 Car Garage Parking: Off Street
Side Apron
Age: 26-50 Years
26-50 Years
Exterior Building Type: Aluminum/Vinyl/Steel Siding
Aluminum/Vinyl/Steel Siding, Frame
Elementary Sch Dist: 20
20
High Sch Dist: 108
108
Short Sale/Foreclosed/Court Approved: Total Adjustments:
Adjusted Price:
Prepared By: Christian Chase Chase Real Estate, LLC
$0
$189900
Key
MLS #
Status
Address
Price
Beds
Baths
1)
07401836
CLSD
1600 BEVERLY CT
$145,000
4
2
2)
07438888
CLSD
5505 Crosby CT
$162,000
3
2
3)
07442199
CLSD
5767 S RING CT
$163,000
4
2
4)
07365892
CTG
5502 Cooper CT
$149,900
3
1.1
5)
07488093
RACT
5703 RING CT
$175,900
4
2
6)
07555697
NEW
5883 E ANDOVER DR
$179,900
4
2
7)
07500082
PCHG
5701 Bedford CT
$189,900
4
2
Prepared By: Christian Chase Chase Real Estate, LLC