Paul Heinrich
PARTNER
Illinois & Wisconsin
There is a 2600 x 100 foot grass strip about 40 miles west of Chicago that is being sold as part of a farm. There is an offer on the table that would result in the strip being plowed over and returned to row crops. The sellers would consider dividing out the strip, but only if it results in a greater return to them on the overall sale.
As is, the strip generates sufficient income to support a $250,000 30 year mortgage at 5-6%. I am willing to take on the ownership responsibilities of the strip to guarantee it stays a grass strip in perpetuity, but I can't get bank financing because of my other current obligations and the credit crunch.
If anyone with the means is interested in buying it, or if anyone has a suggestion about fundraising/financing, please let me know.
Thanks.
As is, the strip generates sufficient income to support a $250,000 30 year mortgage at 5-6%. I am willing to take on the ownership responsibilities of the strip to guarantee it stays a grass strip in perpetuity, but I can't get bank financing because of my other current obligations and the credit crunch.
If anyone with the means is interested in buying it, or if anyone has a suggestion about fundraising/financing, please let me know.
Thanks.