This Commercial is located at Chestnut St, Ottawa, IL 61350. This listing is NOT an active listing. Updates to this listing have stopped. This listing may be off the market. No further information is available at this time.
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This commercial property is available as a tax lien at Chestnut St. Based on our analysis of the current market conditions in Ottawa for Chestnut St and comparable listings, the estimated market value is still being calculated. If purchased for rental purposes, this property might present an opportunity to make monthly rental income. The rental value will be updated on this listing soon. Factors considered in this calculation include the property location, condition, status, and convenience. Properties like this one located at Chestnut St are updated daily along with others in Ottawa, Illinois.
The property located at Chestnut St in Ottawa, IL is listed as a Tax LienThe property located at Chestnut St in Ottawa, Illinois has a tax lien. When annual property taxes are delinquent, a lien is immediately placed against the property that must be paid in full before it can be sold. If a homeowner fails to pay his or her real estate taxes, the government or other taxing entity may attempt to sell the property. For this reason, valuable properties may sometimes be acquired for a fraction of their true value.
Tax Liens are issued when a property owner fails to pay real estate taxes in a timely manner and a taxing authority, such as a city, county, or state, declares the taxes in default.
Here are the basic steps to follow:
There is a highly organized market for real estate tax liens and many sophisticated investors buy them. Tax liens can offer higher returns than many other types of interest-bearing investments and represent an opportunity for very little cash. The market for tax lien properties is competitive and the taxing authorities have specific rules to be followed. A wise investor will research each property to make certain his investment is secure.
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