759 East Monroe St

This property has been ordered to be sold.  The minimum bid is $3,357,000.  There are 50 units that are all one bedroom, one bathroom.  All units have a private deck.  Each unit is approximately 700 square feet with a total building area of approximately 36,000 square feet.  HUD contract existing for property.  All tenants must be 62 years old or legally disabled to live in property.  All units separately metered for utilities.  There are electric air conditionig window units and electric heat and electric hot water tanks in all units.  The property has public water and public sewer.  There is a paved parking lot.  Property has approximately 366 feet of road frontage and sits on 1.77 Acres.  The normalized net operating income is $381,128.00, which  reflects an 11.35 CAP RATE AT THE MINIMUM BID.