Address
13990 E Chicago Road, Cement City, MI
Price
$ 650,000
Property Attributes
  • MLS#24007084
  • TypeContingent
  • CountyHILLSDALE
  • CityCement City
  • AreaSomerset Twp
  • NeighborhoodSomerset Twp
  • Zip49233
  • Style5+ Units
  • Year Built1950
  • Taxes$ 2595
  • Price$ 650,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size5 Acres
Data Source:
Michigan Regional Information Center (MICHRIC)
Property Description

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.

Price History
2/12/2024 Listed $650,000

General Features

Sewer Septic System
Heating Wall Furnace,Forced Air,Baseboard,Natural Gas
Cooling Window Unit(s),Central Air
Utilities None Available,Phone Connected,Natural Gas Connected,Electric Connected,Cable Connected
Roof Other,Composition
Construction Materials Aluminum Siding
Year Built 1950
Tenant Pays None
Property SubType 5+ Units
Tax Year 2023
OwnerPays Trash Collection,Electricity,Gas
Accessibility Ramped Entrance
County Hillsdale
New Construction No
Property Type Multi-Family
Attached Garage No
Status Active Contingent
Directions US12 (Chicago Rd) WEST of US127
City Cement City
High School District Addison
Total Units 16
MLS Area Hillsdale County - X
Lot Size Square Feet 217800.0
Waterfront Y/N No
Street Name Chicago
Land Lease Y/N No
Tax Annual Amount 2595.0
Lease Renewal Y/N No
MLS Area Minor Hillsdale County - X
Additional Parcels Y/N No
Rent Control Y/N No
Days on Market 15
Standard Status Active Under Contract
Tax Assessed Value 69295
MobileHomeRemainsYN No
Legal Description COM ON E1/4 PST TH S ON E SEC LN 535.5 FT TO POB TH S ON E SEC LN 762.3 FT TO N R/W LN US-12 TH S 82 13' W ALG SD R/W LN 400 FT TH N PAR WITH SEC LN 762.3 FT TH N 82 13' E PAR WITH US-12 400 FT TO PO
Senior Community None

Interior Features

Basement Crawl Space,Slab,Walk Out,Full
Total Fireplaces 3
Basement (Y/N) Yes
Air Conditioning Y/N Yes
Heating Y/N Yes
Street Suffix Road
Laundry Features In Basement
Electric On Property Y/N No

Exterior Features

Parking Features Asphalt,Driveway,Paved
Lot Features Level
Total Parking 40.0
Lot Size Area 5.0
Number of Buildings 3
Spa No
Lot Dimensions 400x762
Lot Size Acres 5.0
Road Surface Type Paved
Lot Size Units Acres
Crops Included Y/N No
Open Parking Y/N No
Horse Y/N No
Irrigation Water Rights Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Contingent Average in 49233

Price
AVG $510K
$650K
Taxes
AVG $2,806
$2,595
Visits
AVG 121
15
Data Provided by Inside Real Estate®
Year Built
AVG 1975
1950