Property in Missouri

Address: 517 elm 64601

Approximate value $: 595,000.00

The building, at 517 Elm St., was built in Chillicothe, MO during the 11 years between 1899 and 1910. It is now laid out as 6 large condo units (but it's not too late to re-design to your needs). The zoning allows for commercial and/or residential units. Or one could even make one 11,000 sq. ft. home. Everything structural and internal is absolutely new and to current codes. We basically built a modern building inside of an old shell. The new internal building is a self supporting structure (the building inspector was very impressed with the design). We did everything we could to save pieces as a historic restoration, as well as build a brand new building. The electrical is new from the street right to all the outlets, including a brand new 600 amp pole mounted transformer and all new and separate 200 amp services for each unit and the commons. The water supply is also brand new from the tee in the street to the finished interior, and has a separate meter for each unit and the commons. We added gas, for each unit, for cooking, fireplaces, and additional heat. And central A/C heat. There are separate meters, for all units, for this as well.

The model unit is 100% finished, inspected, and ready to live in. It includes all appliances and in-unit-laundry, and could be lived in immediately. If someone wanted to purchase the entire building, the model unit could be sold as a condo now, or rented for $1,000./mo. Either would gain capital (the new occupancy permit has already been obtained). Or, the buyer could keep the building whole as a sixplex (or more) apartment building (when we started, it had been converted into a 13 unit apartment building). Or, the best use... an 11,000 sq. ft. elite home. IMPORTANT NOTE: It is also zoned for commercial use such as offices. The remaining 5 units are approx. 50%-70% finished.

The units range in size from approx. 1150 to 1865 sq./ft. (the model is one of the larger ones) And one is set up with a detached, yet inside the building, business zoned office (which can be alternatively used as a second, yet separate, bedroom suite for that unit - or an additional studio apartment/condo).

Amenities (everything is new and has never been used):
Original 100 year old Fir floors downstairs and Maple(absolutely beautiful - was originally a 50'x50' dance floor) upstairs (one picture shows where they have been refinished and meet in the stairwell)
12' ceilings in some units and 14' in others (original 100 year old tin ceiling, restored and re-hung piece by piece in model unit)
Central A/C and heat pumps w/gas back-up
plumbed for central vacuum
2 bed - 2 bath all on one floor
granite counters in kitchen AND baths (kitchen also has a SLATE sink)
stainless appliances including: refrigerator, gas cook top, electric oven, dishwasher, disposal
stainless pendant lights above cook-top island
Cherry cabinets in kitchen AND baths
gas log set inside the original fireplace (fire with the flip of a switch)
8' tall (yes I said 8' tall) oak doors custom made to match the original 2 panel doors
all new insulated, tilt-in windows
15" deep window seats on ALL windows
electronic entry system for main front door to building
Jacuzzi style tub (w/lifetime parts and labor in-house warranty), and separate shower
tile floors in baths and utility closet
laundry in guest bath is new and included
fire alarm system for building and each unit
I'm sure I'm missing many things... but this should give you an idea. I have spared no expense in this project. I wanted this building to be the most upscale place in town, and it is!

There has been over $600,000.00 invested in the restoration alone, and the units are currently for sale. Asking price is $595,000 for the entire property. Units may be sold separately for cash or trade. The model unit asking price, for example, is $250,000 complete and ready to move in. Others may be priced as is, or finished. ( I KNOW TIMES ARE TOUGH, SO MAKE ME AN OFFER ON THE ENTIRE PROPERTY)

I understand I will take a loss and am looking for all offers to be presented. Interests include all cash offers or trade for other real estate (depending on where), or a world cruising sailboat (my family and I currently cruise ocean waters in warm climates for 5 months a year) or other movable items such as automobile collections or construction equipment.

There is nothing like this project anywhere nearby. Therefore, it is most likely not possible to get a proper appraisal. It will be more up to the individual's idea of what it is worth. Companies such as LOWE'S, Restaurants, and several Banks, have recently opened up within approx. one mile from this building. Re-affirming the current growth in the immediate area. In this tough real estate economy, I believe this area is still an emerging market.

SOME PICTURES ARE OBVIOUSLY IN THE UNFINISHED STATE, AND WERE INCLUDED SIMPLY TO SHOW THE QUALITY OF WORKMANSHIP HIDDEN BY THE FINISHED PRODUCT. Over the years of many restorations, I believe it is important to show the time and effort that goes into a REAL restoration/new build. It differs greatly from simply building all new or just repairing an old building. And when finished, you have a piece of history that cannot be duplicated today. I stand behind everything I do!

I do own this property outright and have no lien or mortgage. Therefore, it will be a simple sell or trade with no need to pay off any financial institutions.

In exchange for Property in Any state

Equal Trade - Tell me what you've got! I'll listen to all offers of any type of item!!! I will not take over any liens. Property must be lien/encumberance free!!!

ID: 19617, Submitted: 12/21/2011 16:14:38, Updated: 12/21/2011 17:36:53, Visitors: 3068