Advice/JV on Evanston property.
Hello everyone, I hope you are all enjoying your holidays and some relaxing down time. I’ve been looking at a mixed use building in Evanston as a possible buy and hold, to turn into a coliving situation. Or possibly artist studios. I’m new to this and am looking for advice on how to proceed. The property is 600 Oakton Ave and is listed on Crexi. The downstairs has a dry cleaner as a tenant and the owner won’t release the environmental report without an LOI and proof of funds. It’s below market for the size and there is obviously work that needs to be done but seems like it could be a Subto or seller finance opportunity. Any advice or a JV partner would be much appreciated. All the best! John