12908 S Wallace StreetChicago, Illinois

Chicago, IL 60628 · MLS 12759517

List price

$124,900

3 bd / 1 ba
Bedrooms / baths: 743 sq ft
Living area: 1947
Year built

"CORP. OWNED, AS-IS SALE, CASH ONLY, NO SURVEY, TAXES 100%."

Listed by Ryan Cherney Circle One Realty (630) 862-5181

12908 S Wallace Street is a 3-bedroom, 1-bath home in Chicago, Illinois listed at $124,900 with 743 square feet, built in 1947. The seller is asking for cash or hard money, so it is priced here on our fix and flip loan: an investor with 1 to 2 completed projects and a 740 score puts 15% down ($18,735), we fund the $143,000 renovation estimate in draws, and the loan closes in 2 weeks. The down payment steps with experience, credit and the size of the renovation. See every hard money opportunity in Illinois or our Illinois hard money lending page.

From the listing. Brick Cape Cod investor/handyman opportunity in West Pullman, 3 floors of living space, bath on each floor, hardwood floors. 5 bed, 3 bath, 1,300 sq ft, built 1944. Corporate-owned, sold as-is, cash only, no survey, taxes included.

01 - Price This Property

Hard money financing on 12908 S Wallace Street: what you qualify for.

Preset with the list price and our rough renovation estimate. Change your score, your experience, the budget or the after-repair value and the numbers below move with them. Nothing is pulled and nothing is saved.

List price $124,900

State IL

Your credit score, approximate

Type a number, like 720. A ballpark is fine and nothing is pulled. Leave it empty if you have no score.

Investment projects you completed in the last 3 years

Flips, rentals bought and sold, or builds. Decides the down payment.

Renovation budget

Our super rough estimate at $110 per sq ft. Put in your contractor's number if you have one.

After-repair value, if you know it

The loan stays under 75% of it. Leave blank to size on the price alone.

1. Your score740Qualifies
2. Your experience1 to 2 projectsTier 2: 15% down
3. Down payment15% downNot priced as entered: see why below

Not yetAt a 740 score with 1 completed project, this property does not price on our programs as entered. The reasons are below; change what you can, or call the desk.

Fix and flip, experienced

15% down

We fund 100% of the renovation. Closes in 2 weeks.

Cash to close, rough estimate $26,862

Loan at closing $106,165

Rate, interest only from 9.75%

Why not. An extensive (100% of the price or more) renovation is not offered at Tier 2. It opens at Tier 3 (3 or more completed projects).

02 - The Numbers at Closing

12908 S Wallace Street priced at the list price.

Item		Fix and flip: 15% down
At closing
Qualifies as entered	No
Buyer down payment	$18,735 (15%)
Loan at closing	$106,165
Full renovation, rough estimate*	We fund $143,000
Total loan	$249,165
Rate, interest only	from 9.75%
Points	1.5 ($3,737)
Appraisal	Required
Estimated monthly interest	$2,024 at full draw
Cash to close, rough estimate	$26,862

Rough estimates at the list price of $124,900 for a 740 score and 1 completed project. This is not a commitment to lend.

*Every figure on this page is a rough estimate. The renovation budget is a super rough placeholder at $110 per sq ft, not a bid or an inspection; get your own contractor numbers before you offer. Indicative estimate for discussion, not a commitment to lend. Business-purpose loans to investors only; final terms are set at submission. Fix and flip loans are sized on an appraisal and must stay under 75% of after-repair value. 10% down is for experienced investors; first-time flippers put 20% down. Fix and flip fees include administration, documents, legal, draw inspections and servicing. Title, escrow and taxes are not included.

We are the lender, not the listing agent. This property is listed by Ryan Cherney, Circle One Realty ((630) 862-5181). To see it or make an offer, contact Ryan directly, or work with your own buyer's agent. The numbers on this page are simply what our financing would look like on this property. Viewing them is not a commitment to borrow from us, and you are free to finance the purchase however you choose. We do not represent buyers or sellers.

Request the Term Sheet Call (323) 304-4978

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