2744 n. southport ave., chicago, il 60614...2744 n. southport ave., chicago, il 60614 5 year cash...
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2744 N. Southport Ave., Chicago, IL 606145 Year Cash Flow Projection8/23/2017
Monthly Projection Projection Projection Projection Projection2017 2018 2019 2020 2021
Rental Revenue2744 N. Southport 11,800$ 141,600 145,848 150,223 154,730 159,372
Total Rental Revenue 141,600 145,848 150,223 154,730 159,372 Vacancy 5.00% (7,080) (7,292) (7,511) (7,737) (7,969)
Net Revenues 134,520 138,556 142,712 146,994 151,403
Operating ExpensesManagement/Leasing Fee 5.00% 6,726 6,928 7,136 7,350 7,570 Insurance 3,000 3,090 3,183 3,278 3,377 Real Estate Taxes 14,888 19,944 25,000 25,750 26,523 Utilities 720 742 764 787 810 Repaires & Maintenance 150 155 159 164 169 Capital Reserves 450 450 450 450 450
Total Operating Expenses 25,934 31,308 36,691 37,779 38,898
Net Operating Income 108,586 107,248 106,021 109,215 112,505 CAP Rate 5.30% 5.23% 5.17% 5.33% 5.49%Gross Rent Multiplier 14.47 14.05 13.64 13.24 12.86
Debt Service 87,209 87,209 87,209 87,209 87,209
Net Income 21,377 20,039 18,812 22,006 25,296
Cash on Cash Return 3.5% 3.3% 3.1% 3.6% 4.1%Cash on Cash w/ Principal Pay Down 7.2% 7.2% 7.2% 7.9% 8.6%
DSCR 1.25 1.23 1.22 1.25 1.29
Unit Mix Beds Baths Units $/SFT Rent Total2744 N. Southport
Unit 1 4 2.5 1 1.77$ 4,600$ 55,200$ Unit 2 2 2 1 3.00$ 3,300$ 39,600$ Unit 3 2 2 1 3.12$ 3,900$ 46,800$
8 6.5 3 7.89$ 11,800$ 141,600$
IRR Calculation Year 0 Year 1 Year 2 Year 3 Year 4 Year 5Cash Flows (614,700) 21,377 20,039 18,812 22,006 25,296 Sale 2,142,953 Sale Expense (85,718) Debt Payoff (1,305,114)
Levered IRR Totals (614,700) 21,377 20,039 18,812 22,006 777,418
Unlevered IRR Totals (2,049,000) 108,586 107,248 106,021 109,215 2,169,740
Equity Multiple 1.27 Levered IRR 7.34%Unlevered IRR 5.37%
Purchase Price 2,049,000$ Operating AssumptionsDebt 70.0% 1,434,300$ Rental Revenue Growth 3.00%Amortizing Term 30 Expense Growth 3.00%Rate 4.50% Real Estate Tax Growth 3.00%Equity 614,700$ Terminal CAP Rate 5.25%
2744 N Southport 1
Buyer________________________________ Date______________ 2/22/16 v2 Seller_____________________________ Date____________
KITCHENCABINETS
Upper
Fridge Cabinet
Base
Island
Cabinet Hardware
Under Cabinet LightingFaucet
Sink
Disposal
COUNTERTOP
Countertop
BACKSPLASH
Developer's various size options
APPLIANCES
Refrigerator
Range (Unit 1)
Range (Unit 2 & 3)
Hood (Unit 1)
Hood (Unit 2 & 3)
Microwave
`Dishwasher
Beverage Center
Washer
Dryer
Fireplace Ventless Gas Fireplace with mantel
Artic White Painted Finish in Shaker style doors (source: Builders Cabinets)
24" Danby Beverage Center, Model #DBC514BLS
FIREPLACE
LED lighting to be installed under wall cabinets.
LG White Front Load Steam Washer, Model #WM3670HWH
LG 7.4 Cu. Ft. White Ultra Latge Capacity Gas Dryer, Model #DLGX3371WH
Grohe Joliette, Single Lever Faucet Polished Chrome, Model#30210000
Single Bowl, Rectangular, Stainless Steel Undermount
1/3" Horsepower
Wolf 36" Six Buner Gas in Stainless Steel, Model # GR366
Best 28" Stainless Steel 600 CFM Velato Range Hood, Model# P195P1M70SB6
2744 N Southport
Artic White Painted Finish in Shaker style doors with "L"-shaped Molding (Unit 1 &2) and Crown Molding (Unit 3) Unit 1 & 3 will have stacked upper cabinets with glass doors. Unit 2 stacked uppers in solid Shaker door (source: Builders Cabinets)
Artic White Painted Finish in Shaker style doors (source: Builders Cabinets)
Artic White Painted Finish in Shaker style doors (source: Builders Cabinets)
Buyer's Choice of Mosaic, Ceramic or Porcelain tile from Developer’s selection options, laid straight or in a brick pattern, vertical or horizontal, installed to the bottom of the upper cabinets and the hood. Allowance up to $12.00 per square foot. (source: Home Carpet One)
Specifications subject to change pending availability of materials, completion of framing, door & window installation and/ or for mechanical & structural purposes
1 1/4" Statuarito Quartz with Square polished edge and 8" - 10" breakfast bar overhang on the island. (source: Interiors of Stone)
Sub Zero 36” Stainless Steel Refrigerator, Model #BI-36UFD/S/PH
Wolf 30" Four Buner Gas in Stainless Steel, Model # GR304
Thermador Professional Series Stainless Steel Built In Microwave Oven, Model #MBES
Zephyr 36" Stainless Hood One Piece Liner, Model #AK9434AS
Bosch 24" 800 Series Built-In Stainless Steel Dishwasher, Model #SHE68T55UC
LAUNDRYStackable (Units 1 and 3) Side by Side Unit 2
Brushed Chrome pulls provided and installed by the Developer
2744 N Southport 2
Buyer________________________________ Date______________ 2/22/16 v2 Seller_____________________________ Date____________
Wood Mantle with Tile inset
MASTER BATH
Vanity Cabinet (Unit 1 & 3)
Vanity Cabinet (Unit 2)
Vanity Hardware
Countertop
TILE:
Shower Walls
Shower Bench
Shower Threshold
Shower Base
Shower Ceiling
Tub Walls (Unit 1)
Tub Front (Unit 1)
Floor
Faucet
Sinks
Steam Shower
Shower Trim
Shower Door
Tub (Unit 1)
Tub Filler (Unit 1)
Toilet
Mirror
Lighting
Heated Floors
BATHROOMS
Decorative wood mantle painted white with Bianco Carrera Herringbone Mosaic inset. Grout: TEC Dove Gray #908
3" x 9" Bianco Carrara Marble, laid horizontal in a brick pattern, installed to the ceiling.
Maax Built In Tub with tiled Tub Front, Model #101460-103-001 7236
Grohe Fairborn Roman Deck Mounted Tub Filler, Model #25160000, Polished Chrome
Bianco Carrara Hexagon mosaic laid to fit.
12" x 24" Bianco Carrara Marble laid vertical and brick with matching tiled baseboards
(2) Grohe Fairborn Widespread Faucet, Polished Chrome, Model# 20423000, Polished Chrome
Rectangular Undermount, White Sinks
Full Sized Walk In Shower with Bench, equipped with steam unit from Steamist
Grohe Grohtherm 2000 Authentic Shower Valve Trim, Model #19825000, (1) Polished Chrome Hand Held Shower, Model #27142000, Mountain Re-Vive 10" Round Rain Head, Model #MT10-10 CPB, Danze 6-Inch Ceiling Mount Shower Arm, Model# D481316Frameless Clear Glass door with header to ceiling.
Solid Surface floating bench in Carrera Quartz
1 1/4" Statuarito Quartz with Square polished edge and 4" Quartz backsplash. (source: Interiors of Stone)
3" x 9" Bianco Carrara Marble laid horizontal in a brick pattern installed to the ceiling.
Top of threshold is Carrera Quartz solid surface to match countertop
Bianco Carrara Hexagon mosaic laid to fit.
Heated Floors included, excluding the shower base
12" x 24" Bianco Carrara Marble laid horizontal and brick.
Floor Based Double Vanity in Network Gray Painted Finish in Shaker style doors (source: Builders Cabinets)
Floor Based Double Vanity in Artic White Painted Finish in Shaker style doors (source: Builders Cabinets)
Kohler 2 Piece White Toilet, Model #K-3837
Mirror to be full with of vanity framed in matching Cabinet finish. Lighting will be installed on mirror.
Per Lighting Section
Brushed Chrome Pulls provided and installed by the Developer
2744 N Southport 3
Buyer________________________________ Date______________ 2/22/16 v2 Seller_____________________________ Date____________
Vanity Cabinet (Unit 1)
Vanity Cabinet (unit 2)
Vanity Cabinet (Unit 3)
Countertop
TILE:
Tub Walls
Floor
Faucet
Sink
Tub
Tub/Shower Trim
Toilet
Mirror
Lighting
POWDER ROOM (Unit 1)
Vanity Cabinet
Countertop
Floor
Faucet
Sink
Toilet
Mirror
Lighting
FLOORINGHardwood
Radiant Heat Lower Level- Unit 1
Lower Level Flooring- Unit 1
Laundry & Mechanical Closets
1 1/4" Statuarito Quartz with Square polished edge and 4" Quartz backsplash. (source: Interiors of Stone)
Per Lighting Section
4" x 12" Apuano Installed to the ceiling, laid horizontal and brick pattern.
Floating Single Vanity in Artic White Painted Finish with Shaker style doors (source: Builders Cabinets)
Rectangular Undermount, White Sink
Kohler 2 piece white toilet, Model #K-3837
Gerber 2 Piece White Toilet, Model #DF-21-112
Buyer's choice of Porcelain tile, laid straight or in a brick pattern. Allowance up to $4.50 per sq. ft.
12" x 24" Apuano Porcelain laid straight with matching tiled baseboards. Vertical orientation in Unit 1 and Horizontal orientation in Unit 2 & 3.
Double Floor Based Vanity in Espresso Finish with Shaker style doors. (source: Builders Cabinets)
1 1/4" Aravescato Quartz from Developer's with Square polished edge and 4" Quartz backsplash. (source: Interiors of Stone)
3 1/4” Red Oak Floors, laid straight with 1 coat of Dark Walnut stain by Minwax and 2 coats of water based sealer. To be installed throughout units except the following areas- Excludes bathrooms, laundry area, mechanical closets and lower level of Unit 1
Grohe Fairborn Widespread Faucet, Polished Chrome, Model# 20423000, Polished Chrome
Grohe Fairborn Single Handle Faucet, Polished Chrome, Model #23399000
Rectangular Undermount, White Sink
Maxx 5' Tub with White Skirt
Grohe Tempesta Rustic Hand Shower Set, Model #27609000, Fairborn Tub/ Shower Pressure Balance Valve Trim, Model #19949000 & Fairborn Tub Spout, Model #13344000, Polished Chrome
Single Wall Hung Vanity in Network Gray Paint Finish with Shaker style doors. (source: Builders Cabinets)Single Wall Hung Vanity in Network Gray Paint Finish with Shaker style doors. (source: Builders Cabinets)
Mirror to be installed. Approximately 24" x 36"
Mirror to be installed
Bath 2
Developer’s selected Ceramic tile.
Per Lighting Section
3 1/4" Red Oak stained to match unit hardwood flooring.
Radiant heat installed throughout lower level of Unit 1, less mechanical closets
2744 N Southport 4
Buyer________________________________ Date______________ 2/22/16 v2 Seller_____________________________ Date____________
Kitchen/ Living Room/Dining Room/ Hallways and Stairwells (Units 1 & 3)
Passive SW 7064 Flat Finish
Master Bedroom Gray Screen SW 7071 Flat Finish
Guest Bedroom 2 Passive SW 7064 Flat Finish
Guest Bedroom 3 (Unit 1) Passive SW 7064 Flat Finish
Guest Bedroom 4 (Unit 1) Passive SW 7064 Flat Finish
Master Bathroom Gray Screen SW 7071 Eggshell Finish
Powder Room (Unit 1) Argos SW 7065 Eggshell Finish
Bath 2 Argos SW 7065 Eggshell Finish
Door and Trim Color Developer's Selected White Semi Gloss White Finish
Ceiling & Closet Color Developer's Selected White Flat Finish
Front
Side & Rear Windows
Screens
Building Main Entry
Front Unit Entry Door
Rear Unit Entry Door (Unit 1)
Rear Unit Entry Door (Units 2 & 3)
Interior doors
Front Balcony/ Terrace Doors
Roof Access
Entry Door Hardware
Interior Door Hardware
Door Casing
BaseboardsCrown Molding
Interior Stairs
Railing
TRIM
Full Lite Glass Door with Aluminum frameDOORS
Satin Nickel with factory hinges
5 1/4” cove profile pine pre painted white, installed in Living area and Master Bedroom
Wood spindles painted white with top wood rail stained to match hardwood floors
Pella, Exterior Trim: Black, Interior Trim: White
Fiberglass mesh screens provided for all operable windows
Pella, Exterior Trim: Black, Interior Trim: White
STAIR CASES/ RAILINGS
3 1/4" traditional profile pine, pre painted white throughout
5 1/4” traditional profile pine pre painted white throughout
Single, Full Lite Doors
Satin Nickel handle with factory hinges and deadbolt lock
WINDOWS
Sliding Glass Door with single swing door
8'-0" Flat Panel metal painted white
8 ft. Solid Core, Double Panel Shaker Style painted white, combination of French and/or single swing or pocket doors. Laundry and Mechanical closet doors will be vented
*Buyer’s choice of up to (3) total wall colors to be distributed throughout unit, (1) color per room from Developer’s Selections of Sherwin Williams, Essential Collection. Excludes doors, trim and ceilings
CLOSETS
PAINT
Oak stairs & treads installed with 1 coat of stain matching hardwood floor finish, 2 coats of water based sealer and white painted risers
Sliding Glass Doors
8'-0" Flat Panel metal painted white
Closets to be built out by the Developer
2744 N Southport 5
Buyer________________________________ Date______________ 2/22/16 v2 Seller_____________________________ Date____________
Living/ Dining Room (Unit 1)
Living/ Dining Room (Units 2 & 3)
Family Room (Unit 1)
Master Bedroom
Unit 3 Roof Deck
Living Room
Family Room (Unit 1)
Master bedroom
Guest bedrooms
Roof Deck (Unit 3)
RECESSED CANS
SURFACE MOUNTED
Kitchen Island
Master Bath
Guest Bath Unit 1
Guest Bath Unit 2 & 3
Powder Room (Unit 1)
Guest Bedroom
Master Bedroom
Wiring
Circuit Breakers
Intercom
Smoke Detectors and Carbon Monoxide Detectors
Heating and Air Conditioning Heating and Air Conditioning
Cooling
Compressor Location
Plumbing Service
Water Heater
Radiant Heat
(1) Developer provided wall mounted vanity lights
5 ceiling points (5.1), no volume control
1 Cat5 cable and 1 Electrical outlet wired at elevated wall mount height
2 wall points, no volume control
Gas water heater. Capacity TBD upon installation
All electrical wiring shall be in accordance with the City of Chicago Building Code. Equipped with individual circuit breaker box
Intercom system to ring cell phones from front entrance.
Hardwired and installed in accordance with the City of Chicago Building Code
MECHANICALS90+ efficiency furnace with humidifier and Nest Thermostat
Complete cooling system included with dedicated A/C compressor for each unit
AC Compressors located on the roof
Radiant heat installed throughout lower level of Unit 1, less mechanical closets
New 8" Cast Iron sewer to street main line. All inside rough plumbing, combination of copper and cast iron.
SPEAKER WIRING *Note wiring only, actual speaker equipment not included)
1 Cat5 cable and 1 Electrical outlet wired at elevated wall mount height
1 Cat5 cable and 1 Electrical outlet wired at elevated wall mount height
Boiler at both duplex down (unit 1 and 2)
CABLE WIRING
(2) Developer provided wall mounted vanity lights
(1) junction box wired for buyer's future use
(1) junction box wired for buyer's future use
ELECTRICAL
LIGHTING
5" LED Recessed cans installed in: Kitchen, Living Room/ Dining Area, Master Bedroom, Guest Bedrooms, Master Bath, Hallway and Guest Bath
Developer provided pendant lights
(2) Developer provided wall mounted vanity lights
(1) Developer provided wall mounted vanity light
1 Cat5 cable at baseboard height
2 ceiling points, no volume control
1 cable outlet and 1 Electrical outlet wired at elevated wall mount height
AUDIO VISUAL
5 ceiling points (5.1), no volume control
2 ceiling points, no volume control
2744 N Southport 6
Buyer________________________________ Date______________ 2/22/16 v2 Seller_____________________________ Date____________
Drywall
Insulation
Interior Building Entry
Front Balcony/ Terrace
Elevation
Rear Decks
Roof Deck
Garage DeckRoofing
GENERAL INFORMATION
To be 5/8" U.S Gypsum or equal on all interior walls and bathroom ceilings. Perimeters of all demising partitions to be caulked. Double Drywall between unit ceilings and wallsExterior Walls: Closed Cell Foam R19
Sound attenuation between floors and at bathrooms
Exclusive right to Unit 1, built out in fireproof pressure treated wood decking. Supplied with electrical outlets.
Roof: Foam insulation open cell/ fiberglass blow in, R49
EXTERIOR/ COMMON AREAS
Wood doors are subject to movement because of the natural characteristics of wood. Seller’s Responsibility for movement of wood doors shall be governed by the standards of the door manufacturer. Every building is constantly on the move. On a cold, dry day a building will contract. On a hot, moist day a building actually expands. The reason is that cold and dryness cause some materials to contract, while heat and moisture can cause some materials to expand. A building can swell during rain and shrink during a dry spell. SUCH MOVEMENT CHARACTERIZES ALL BUILDINGS AND IS NORMAL AND SHOULD BE EXPECTED. It is possible that movement will have an effect on the walls, ceilings, floors and framingSystem of your home. It may cause cracking and nail popping in the drywall. The same problem may occur in the flooring system. THEREFORE, WE ARE UNABLE TO GUARANTEE THAT SETTLING,NAIL POPS, CRACKING OF WALLS AND CERAMIC TILE FLOOR WILL NOT APPEAR.
All samples for selection are of actual materials used at 2744 N Southport Because of the natural characteristics, production lots, and other circumstances beyond our control, there may be color shade, hue or texture differences between the sample displayed and the materials supplied or installed in your unit. All construction will conform to and meet the building code requirements of the City of Chicago.Certain changes may be dictated by the City’s code. Purchaser’s signature appearing in these Specifications shall constitute approval and acceptance of all work, if any, already completed as of thisdate. Acceptance of keys to the building by Purchaser shall constitute formal acceptance and approval ofthe completed building. Specifications and brand names herein shall be adhered to as closely as possible.However, substitutions may be made by the seller at its sole discretion. Such substitutions shall be of equal or like kind.
Interior Stairwells: Front Stairs to be carpeted and walls to be dry walled and painted white. Rear stairwell to be painted metal.
GARAGEEach Unit includes (1) Garage parking space and (1) remote clicker
Material: All new four millimeter modified bitumen roof
All Elevations: Combination of Brick and Limestone
Front Entry Foyer: To be dry walled and painted a color selected by the developer
DRYWALL/ INSULATION
Entry Foyer: Will be tiled or stained concrete in developer's choice of finish
To be built out in fireproof pressure treated wood decking. Supplied with electrical outlet per space. Unit 1- gas line. Exclusive right to Unit 3, built out in fireproof pressure treated wood decking. Supplied with gas line, cable outlet and electrical outlet.
Metal railing with square tube frame painted black built out in fireproof pressure treated decking material and equipped with 1 electrical outlet. Unit 2 & 3 with gas line
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DISCLAIMER: All information furnished on the floor plan is subject to change, based on site conditions, constructiontolerances or other conditions without notice. Floorplans are approximate and for marketing purposes only.Rev:11/09/2016_v1
2744 N SOUTHPORT
Buyer:___________________Date:_________
SITE PLAN
3 Car Garage
Roof Deck Exclusive to Unit 1
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DISCLAIMER: All information furnished on the floor plan is subject to change, based on site conditions, constructiontolerances or other conditions without notice. Floorplans are approximate and for marketing purposes only.Rev:11/09/2016_v1
2744 N SOUTHPORT
Buyer:___________________Date:_________
UNIT 1
LOWER LEVEL MAIN LEVEL
Master Bedroom18’ x 15’
Kitchen14’ x 15’
Bedroom 210’ x 11’
Bedroom 310’ x 11’
Bedroom 310’ x 14’
Terrace13’ x 6’
Dining &Living Room
14’ x 24’
Family Room18’ x 15’
Deck12’ x 9’
Deck12’ x 9’
Balcony18’ x 6’
Dining &Living Room
14’ x 16’
Kitchen14’ x 9’
Bedroom 210’ x 11’
Master Bedroom14’ x 12’
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DISCLAIMER: All information furnished on the floor plan is subject to change, based on site conditions, constructiontolerances or other conditions without notice. Floorplans are approximate and for marketing purposes only.Rev:11/09/2016_v1
2744 N SOUTHPORT
Buyer:___________________Date:_________
UNIT 2
MAIN LEVEL
Master Bedroom18’ x 15’
Kitchen14’ x 15’
Bedroom 210’ x 11’
Bedroom 310’ x 11’
Bedroom 310’ x 14’
Terrace13’ x 6’
Dining &Living Room
14’ x 24’
Family Room18’ x 15’
Deck12’ x 9’
Deck12’ x 9’
Balcony18’ x 6’
Dining &Living Room
14’ x 16’
Kitchen14’ x 9’
Bedroom 210’ x 11’
Master Bedroom14’ x 12’
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DISCLAIMER: All information furnished on the floor plan is subject to change, based on site conditions, constructiontolerances or other conditions without notice. Floorplans are approximate and for marketing purposes only.Rev:11/09/2016_v1
2744 N SOUTHPORT
Buyer:___________________Date:_________
UNIT 3
MAIN LEVEL ROOF DECK
Balcony18’ x 6’
Dining &Living Room
18’ x 16’
Kitchen14’ x 9’
Bedroom 210’ x 11’
Master Bedroom14’ x 12’
Roof Deck18’ x 60’
Exclusive to Unit 3
Penthouse5’ x 11’
Deck12’ x 9’
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Disclosure Regarding Real Estate Agency RelationshipsBefore you disclose confidential information to a real estate licensee regarding a real estate transaction, you should understand what type of agency
relation that you have with that licensee.A broker or salesperson may function in any of the following capacities.
(A) Represent the seller as an authorized seller’s agent or subagent(B) Represent the buyer as an authorized buyer’s agent or subagent(C) Represent both the seller and the buyer as a disclosed dual agent, authorized by both the seller and the buyer(D) Represent neither the seller nor the buyer as an agent, but provide services authorized by the seller or buyer to complete a transaction as a transaction coordinator.
A Seller’s agent, under a listing agreement with the seller, acts solely on behalf of the seller. A Seller can authorize a seller’s agent to work withsubagents buyer’s agents and/or transaction coordinators. A subagent of the seller is one who has agreed to work with the listing agent and who, like thelisting agent acts solely on behalf of the seller Seller’s agents and their subagents will disclose to the seller known information about the buyer which maybe used to the benefit of the seller.
The duties that a seller’s agent and subagent owes to the seller includes:• Promoting the best interests of the seller• Fully disclosing to the seller all facts that might affect or influence the seller’s decision to accept an offer to purchase• Keeping confidential the seller’s motivations for selling unless express permission is given otherwise• Presenting all offers to the seller• Disclosing to the seller all information known to the seller’s agent about the identity of all buyers and the willingness of those buyersto complete the sale or to offer a higher price
SELLER’S AGENTS (A)
A Buyer’s agent, under a buyer’s agency agreement with the buyer, acts solely on behalf of the buyer. A subagent of the buyer is one who hasagreed to work with the buyer’s agent and who, like the buyer’s agent, acts solely on behalf of the buyer. Buyer’s agents and their subagents will discloseto the buyer known information about the seller which may be used to the benefit of the buyer.
The duties that a buyer’s agent and subagent owes to the buyer include:• Promoting the best interest of the buyer• Fully disclosing to the buyer all facts that might affect or influence the buyer’s decision to tender an offer to purchase• Keeping confidential the buyer’s motivations for buying unless express permission is given otherwise• Presenting all offers on behalf of the buyer• Disclosing to the buyer all information known to the buyer’s agent about the willingness of the seller to complete the sale or to accepta lower price
BUYER’S AGENTS (B)
A real estate licensee can be the agent of both the seller and the buyer in a transaction, but only with the knowledge and informed consent, inwriting, of both the seller and the buyer.
In such a dual agency situation, the licensee will not be able to disclose all known information to either the seller or the buyer. As a dual agent, thelicensee will not be able to provide the full range of fiduciary duties to the seller or the buyer.
The obligations of a dual agent are subject to any specific provisions set forth in any agreement between the dual agent, the seller and the buyer.
DUAL AGENTS (C)
A transaction coordinator is a licensee who is not acting as an agent of either the seller or the buyer, yet is providing services to complete a realestate transaction.
The transaction coordinator is not an agent for either party and therefore owes no fiduciary duty to either party. The transaction coordinator isnot the advocate of either party and therefore has no obligation to “negotiate” for either party. The responsibilities to the transaction typically include:
• Providing access to and the showings of the property• Providing access to market information• Providing assistance in the preparation of a buy and sell agreement which reflects the terms of the parties’ agreement• Presenting a buy and sell agreement and any subsequent counter-offers• Assisting all parties in undertaking all steps necessary to carry out the agreement, such as the execution of documents, the obtaining offinancing, the obtaining of inspection, etc.
TRANSACTION COORDINATOR (D)
ACKNOWLEDGEMENT:By signing below, the parties confirm that they have received and read the information in this agency disclosure and state that this form was
provided to them before the disclosure of any confidential information specific to the potential sellers or buyers. THIS IS NOT A CONTRACT.
Potential Buyer/Seller (circle one) Date
Potential Buyer/Seller (circle one) Date
A buyer or seller with a designated agency us represented only by agents specifically named in the agreement. Any agents of the firm not named inthe agreement do not represent the buyer or seller. The named “designated” agent acts solely on behalf of his or her client and may only share confidentialinformation about the client with the agent’s supervisory broker who is also named in the agreement. Other agents in the firm have no duties to the buyeror seller and may act solely on behalf of another party in the transaction.
DESIGNATED AGENCY
LICENSEE DISCLOSUREREALTOR hereby disclosesthe following relationship(check one from each column)
with the BUYER( ) Buyer’s Agent( ) Dual Agent( ) Transaction Coordinator( ) None of the Above
with the SELLER( ) Seller’s Agent( ) Dual Agent( ) Transaction Coordinator( ) None of the Above
AND{Check here if acting as a designated agent, only if the licensee’s broker and a named supervisory broker have the same agency relationshipas the licensee named below. If the other party in a transaction represented by an affiliated licensee, the licensee’s broker and all namedsupervisory brokers shall be considered disclosed consensual dual agents.
Check here if not acting as a designated agent. All affiliated licensees have the same agency relationships as the licensee named below.
X
X
X
2744 N Southport Ave. #1, #2, #3, Chicago, IL 60614
DocuSign Envelope ID: 345283AD-5EE1-4A89-ADAE-A0273A431FA4
11/7/2016 | 1:25 PM CST
11/7/2016 | 1:26 PM CST
FORM 422 (6/14/13) COPYRIGHT ILLINOIS ASSOCIATION OF REALTORS® 1/1
ILLINOIS ASSOCIATION OF REALTORS®
DISCLOSURE OF INFORMATION ON RADON HAZARDS (For Residential Real Property Sales or Purchases)
Radon Warning Statement
Every buyer of any interest in residential real property is notified that the property may present exposure to dangerous levels of indoor radon gas that may place the occupants at risk of developing radon-induced lung cancer. Radon, a Class-A human carcinogen, is the leading cause of lung cancer in non-smokers and the second leading cause overall. The seller of any interest in residential real property is required to provide the buyer with any information on radon test results of the dwelling showing elevated levels of radon in the seller’s possession. The Illinois Emergency Management Agency (IEMA) strongly recommends ALL homebuyers have an indoor radon test performed prior to purchase or taking occupancy, and mitigated if elevated levels are found. Elevated radon concentrations can easily be reduced by a qualified, licensed radon mitigator.
Seller’s Disclosure (initial each of the following which applies) _______ (a) Elevated radon concentrations (above EPA or IEMA recommended Radon Action Level)
are known to be present within the dwelling. (Explain). _______ (b) Seller has provided the purchaser with the most current records and reports pertaining to
elevated radon concentrations within the dwelling. _______ (c) Seller either has no knowledge of elevated radon concentrations in the dwelling or prior
elevated radon concentrations have been mitigated or remediated. _______ (d) Seller has no records or reports pertaining to elevated radon concentrations within the
dwelling. Purchaser’s Acknowledgment (initial each of the following which applies) _______ (e) Purchaser has received copies of all information listed above. _______ (f) Purchaser has received the IEMA approved Radon Disclosure Pamphlet. Agent’s Acknowledgement (initial IF APPLICABLE) _______ (g) Agent has informed the seller of the seller’s obligations under Illinois law. Certification of Accuracy The following parties have reviewed the information above and each party certifies, to the best of his or her knowledge, that the information he or she has provided is true and accurate. Seller _________________________________ Date_________________________________
Seller _________________________________ Date_________________________________
Purchaser _____________________________ Date _________________________________
Purchaser _____________________________ Date _________________________________
Agent _________________________________ Date _________________________________
Agent_________________________________ Date__________________________________
Property Address: _________________________________________________________
City, State, Zip Code: _________________________________________________________
2744 N Southport Ave. #1, #2, #3
Chicago, IL 60614
DocuSign Envelope ID: 345283AD-5EE1-4A89-ADAE-A0273A431FA4
11/7/2016 | 1:25 PM CST
11/7/2016 | 1:26 PM CST
This New Construction Insulation Disclosure Rider ("Rider") is made a part of and incorporated into 1
that certain real estate contract between ________________________________________________________ 2
("Buyer") and ____________________________________________ ("Seller") dated ____________________, 3
20____ ("Contract") for the purchase and sale of that certain real estate commonly known as: 4
__________________________________________________________________________________ ("Property"). 5
(address) (unit #) (city) (state) (zip) 6 Except as modified by this Rider, all of the terms and conditions contained in the Contract remain in 7
full force and effect. In the event of any conflict between the terms and conditions of this Rider and 8
the terms and conditions of the Contract, the terms and conditions of this Rider shall prevail. 9
Capitalized terms used and not defined in this Rider shall have the meaning given to such terms in 10
the Contract. 11
Seller hereby represents and warrants that the insulation to be installed in the Property is as follows: 12
I. Exterior walls will be insulated with ________________________________________________ (type of 13
insulation), to a thickness of _____________ inches which, according to the manufacturer will yield 14
an R-value of ___________________________________. 15
II. Interior walls will be insulated with _________________________________________________ (type of 16
insulation), to a thickness of _____________ inches which, according to the manufacturer will yield 17
an R-value of ___________________________________. 18
III. Ceilings in all areas will be insulated with ___________________________________________ (type of 19
insulation), to a thickness of _____________ inches which, according to the manufacturer will yield 20
an R-value of ___________________________________. 21
IV. The exceptions to the previous insulation disclosures in Sections I – III are as follows: 22
Location: Description:_____________________________________ 23
Thickness:______________________________________ 24
R-value:_________________________________________ 25
Location: Description:_____________________________________ 26
Thickness:______________________________________ 27
R-value:_________________________________________ 28
Location: Description:_____________________________________ 29
Thickness:______________________________________ 30
R-value:_________________________________________ 31
__________________________________________ ___________________________________________ Buyer's Signature Date Seller's Signature Date __________________________________________ ___________________________________________ Buyer's Signature Date Seller's Signature Date
RIDER 13 NEW CONSTRUCTION INSULATION DISCLOSURE
Rev. 01/2012
Virage LLC
2744 N Southport Ave. #1, #2, #3, Chicago, IL 60614
per Materials and Specifications
per Materials and Specifications
per Materials and Specifications
per Materials and Specifications
per Materials and Specifications
per Materials and Specifications
DocuSign Envelope ID: 345283AD-5EE1-4A89-ADAE-A0273A431FA4
11/7/2016 | 1:25 PM CST
THIS RIDER IS MADE A PART OF AND INCORPORATED INTO THAT CERTAIN REAL ESTATE SALE
Rider 5INTEREST BEARING ACCOUNT RIDER
(Purchaser) (Seller)
REV 04/03
,
COMMONLY KNOWN AS , ILLINOIS,(SELLER)
(PURCHASER).
(Purchaser) (Seller)
FOR THE SALE OF THE PROPERTYCONTRACT DATED
ENTERED INTO BY
It is agreed by and between the parties hereto that the total earnest money held in the amount of $ with regard
to the above captioned Contract shall bear interest for and be paid to the party listed on the W-9 form below.
Form W-9. Payer's Request for Taxpayer Identification Number.
Request for TaxpayerIdentification Number and Certification
Form W-9(Rev. January 1993)Department of the TreasuryInternal Revenue Service
Give this formto the requester. DoNOT send to IRS.
Name (if joint names, list first and circle the name of the person or entity whose number you enter in Part I below. See instructions under "Name" if your name has changed.
Address (number and street) List account number(s)Here (optional)
City, state, and ZIP code
Part I Taxpayer Identification Number Part II For Payees Exempt FromBackup Withhold (SeeInstructions)Enter your taxpayer identification number in the
appropriate box. For individuals and soleproprietors, this is your social security number. Forother entities, it is your employer identificationnumber. If you do not have a number, see How ToObtain a TIN, below.
Social Security number
OR
Employer identification numberNote: If the account is in more than one name, seethe chart on page 2 for guidelines on whosenumber to enter.
Requester's name and address (optional)
Certification. --Under penalties of perjury, I certify that:(1) The number shown on this form is my correct taxpayer identification number (or I am waiting for a number to be issued to me), and
(2) I am not subject to backup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal Revenue Service(IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has notified me that I am no longersubject to backup withholding (does not apply to real estate transactions, mortgage interest paid, the acquisition or abandonment of secured property,contributions to an individual retirement arrangement (IRA), and payments other than interest and dividends).
Certification instructions. --You must cross out item (2) above if you have been notified by IRS that your are currently subject to backup withholding because ofunderreporting interest or dividends on your tax return. (Also see Signing the Certification under Specific Instructions, on page 2.)
PleaseSignHere Signature Date
(Dated) (Dated)
CHI1 #96900 v2
AND
Phone: Fax:Produced with ZipForm™ by RE FormsNet, LLC 18025 Fifteen Mile Road, Clinton Township, Michigan 48035, (800) 383-9805 www.zipform.com
2744 N Southport Ave. #1, #2, #3, Chicago, IL 60614
Virage LLC
DocuSign Envelope ID: 345283AD-5EE1-4A89-ADAE-A0273A431FA4
11/7/2016 | 1:25 PM CST