517 Elm - AD #: CM242

Will consider: Airplane, Any and All Assets, Boat, Cash, Commercial Property, Motor Coach, Other, Owner Financing, Residential Property, Vehicle

...This is a chance to live, work, or own a vacation home in beautiful N. Central Missouri in a historic and quality, one-of-a-kind building not far from several Amish communities. And the Lake of the Ozarks is not far either. Kansas City, with it's international airport is only a little over an hour away. The building, at 517 Elm St., was built in Chillicothe, MO during the 11 years between 1899 and 1910. It is now laid out as 6/7 large condo units. The zoning allows for commercial and/or residential units. Or one could even make an 11,000 sq. ft. home. Everything structural and internal is absolutely new and to current codes. We basically built a modern building inside of an old shell. The new internal building is self supporting, and actually supports the old structure as well. We did everything we could to save pieces as a restoration, as well as build brand new condos. The electrical is new from the street right to all the outlets, including a brand new 600 amp pole mounted transformer and all new and separate 200 amp services for each unit and the common. The water supply is also brand new 2 inch from the tee in the street, and with a separate meter for each unit and the common. We added gas, for each unit, for cooking, fireplaces, and added heat. There are separate meters, for all units, for this as well. The model unit is 100% finished and for sale. It includes appliances and in-unit-laundry, and could be lived in immediately. If someone wanted to purchase the entire building, the model unit could be sold as a condo now, or rented for $1,000./mo. Either would gain capital (the new occupancy permit has already been obtained). Or, the buyer could keep the building whole as a sixplex (or more) apartment building (when we started, it was a 13 unit apartment building). Or, the best use... an 11,000 sq. ft. elite home. IMPORTANT NOTE: It is also zoned for commercial use such as offices. The remaining 5 units are approx. 50% finished. The units range in size from approx. 1150 to 1585 sq./ft. (the model is 1550) And one is set up with a detached, yet inside the building, business zoned office (which can be alternatively used as a second, yet separate, bedroom suite for that unit). Amenities (everything is new and has never been used): Original 100 year old Fir floors downstairs and Maple(absolutely beautiful - was originally a 50' dance floor) upstairs (one picture shows where they have been refinished and meet in the stairwell) 12' ceilings in some units and 14' in others (original 100 year old tin ceiling, restored and re-hung piece by piece, in model) Central A/C and heat pumps w/gas back-up plumbed for central vacuum 2 bed - 2 bath all on one floor granite counters in kitchen AND baths (kitchen also has a SLATE sink) stainless appliances including: refrigerator, gas cook top, electric oven, dishwasher, disposal stainless pendant lights above cook-top island Cherry cabinets in kitchen AND baths gas log set inside the original fireplace (fire with the flip of a switch) 8' tall (yes I said 8' tall) oak doors custom made to match the original 2 panel doors all new insulated, tilt-in windows 15" deep window seats on ALL windows electronic entry system for main front door to building Jacuzzi style tub (w/lifetime parts and labor in-house warranty), and separate shower tile floors in baths and utility closet laundry in guest bath is new and included fire alarm system for building and each unit I'm sure I'm missing many things... but this should give you an idea. I have spared no expense in this project. I wanted this building to be the most upscale place in town, and it is! There has been approx. 3/4 of a Million dollars invested recently in the restoration alone, and the units are currently for sale, or trade for a yacht anywhere in the world, or trade for real estate in Massachusetts... or anything interesting - ask me, you may be suprised. For trades, I would possibly be interested in giving up the model unit for values at $250,000.-$300.000. Interested parties should bring offers for trade for the entire building as well as individual units which range in prices as low as $200,000. There is nothing like this project anywhere nearby. Because of that, there are no comparisons available to use for an appraisal. But companies such as LOWE'S, Restaurants, and several banks, have recently opened up within approx. one mile from this building. Re-affirming the current growth in the immediate area. In this tough real estate economy, I believe this area is still an emerging market. SOME PICTURES ARE OBVIOUSLY IN THE UNFINISHED STATE, AND WERE INCLUDED SIMPLY TO SHOW THE QUALITY OF WORKMANSHIP HIDDEN BY THE FINISHED PRODUCT. Over the years of many restorations, I believe it is important to show my buyers the time and effort that goes into a REAL restoration/new build. It differs greatly from simply building all new. And when finished, you have a piece of history that cannot be duplicated today. I stand behind everything I do! I do own this property outright and have no lien or mortgage. Therefore, it will be a simple sell with no need to pay off any financial institutions. Please call to discuss. 781-681-9323

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