Making an offer · Commercial Real Estate 101

Making an offer

, I am talking with a broker of an on-market 48 unit apartment in a small market in downstate Illinois. Per the broker, the owner is eager to make a deal (out of state absentee owner). The owner paid 2.25M in 2020. The property cash flows and triple play pro suggests owner financing offers (seems the seller is open to owner finance) at 2.98M or 3.49M depending on how the deal is structured. I want to start with a lower opening offer. Any guidance on how best to approach the initial offer? I can provide more context if helpful.

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