13990 E Chicago Road $630,000

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    13990 E Chicago Road Cement City, MI 49233

    Closed
    SOLD 4/19/2024

    $630,000

    Market Estimate
    • 0 Beds
    • 0 Baths
    • Multi-Family
    • MLS# 24007084
    13990 E Chicago Road, Cement City, MI 49233
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    Listing provided courtesy of: BNR Real Estate Group
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    Property Details

    Located in the heart of the lake country, Somerset Motel continues to be a staple in the community for over 37 years serving everyday travelers, Michigan Speedway guests, Faster Horses fans, golf outing group, wedding parties, and family reunions. Offered for sale is the 1900 sq. ft. home with 14 rental units and a community room, all on five acres. The sprawling ranch home features a business office, 3 bedrooms, 3 bathrooms, living room, kitchen, dining room, walk-up attic, and full walkout basement with commercial laundry. The home offers garage space for 3 vehicles. The N units and community room (bonus income) total 2130 sq. ft. and the W units total 2450 sq. ft. All units on the property are furnished and have refrigerator, microwave, heat, A/C, cable TV, ...(more remarks)... ...(more remarks)... Wi-Fi, and phones. On 5 acres, huge yards offer firepit and room tents, pavilion, and outdoor games. Opportunity exists to be an onsite owner or make the home 1 or 2 additional units. Do not trespass, disturb owners, or disturb tenants. Cash, Commercial Loans, 1031 Exchanges. 15% CAP RATE. No Land Contract sales. Qualified Purchasers should contact a Commercial Realtor with your questions or schedule a private tour.

    • General Features
      • Year Built 1950
      • Property Sub Type 5+ Units
      • County Or Parish Hillsdale
      • New Construction Y/N false
      • Tax Annual Amount 2595.0
    • Building Features
      • Cooling Window Unit(s),Central Air
      • Cooling Yn true
      • Construction Materials Aluminum Siding
      • Heating Wall Furnace, Forced Air, Baseboard
      • Heating Y/N true
      • Number Of Units Total 16
      • Roof Composition
      • Accessibility Features Ramped Entrance
      • Bathrooms 0
      • Basement Crawl Space, Slab, Walk Out
      • Parking Total 40.0
      • Sewer Septic System
    • Property Features
      • Road Surface Type Paved
      • Number Of Buildings 3
      • Lot Size Area 5.0
      • Lot Size Acres 5
      • Utilities Natural Gas Connected, Cable Connected
      • Waterfront Y/N false
    • Schools
      • High School District Addison

    Neighborhood

    49233 (Cement City) Demographics

    50 Median Age
    111 Population Density (per sq. mile)
    38% College Educated
    $67,176 Estimated Median Income
    982 Estimated Total Home Owners
    149 Estimated Total Renters
    87% / 13% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    2,477 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $238,000 Median Sales Price
    2 Homes Sold
    11 New On Market

    Average Days on Site

      Properties for Sale
        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- New in Database Source: Multiple Listing Service New Value: $0 -100%
        4/19/2024 3:00:00 AM Sold Source: Multiple Listing Service New Value: $630,000
        2/27/2024 12:14:28 PM Status Changed Source: Multiple Listing Service New Value: Active Under Contract
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        Information Deemed Reliable But Not Guaranteed. The firm operating this website does not display the entire MLS (or MichRIC) Broker Reciprocity database on this web site. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. Updated on 4/28/2024 5:14:42 PM PST. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.