View Summary for Preliminary eCRV ID 1369395
County:Olmsted    Auditor ID:
Submit Date: 01/11/2022 11:20 AM    Accept Date: 01/11/2022 11:41 AM

Buyers Information

Organization name:
NICHOLAS REAL ESTATE LLC
Address:
2765 COMMERCE DRIVE NW, ROCHESTER, MN 55901 United States
Foreign address:
No
Phone number:
(507) 369-4982
Email:
*** MN Revenue does not display SSN/Tax ID fields due to privacy. ***

Sellers Information

Organization name:
NICHOLAS LLC
Address:
1010 60TH AVENUE SW, ROCHESTER, MN 55902 United States
Foreign address:
No
Phone number:
(507) 254-5717
Email:
*** MN Revenue does not display SSN/Tax ID fields due to privacy. ***

Property Information

County:
Olmsted
Legal description:
See attachment
File attached:
177600 STAGEBERG LEGAL.pdf
Deeded acres:
Will use as primary residence:
No
What is included in the sale:
Land and Buildings
New construction:
No
Property Location(s)
Property location:
722 WEST CENER STREET, Rochester, 55901
Preliminary Parcel IDs
Parcels to be split or combined:
No
Primary parcel ID:
74.35.34.081551
Additional parcel ID(s):
74.35.34.012835, 74.35.33.083134, 74.35.33.005173
Use(s)
Planned use:
Residential / Apartment (4+ units)
Primary use:
Yes
Prior use:
Residential / Apartment (4+ units)
Rental buildings:
2
Rental units:
95

Sales Agreement Information

Deed Type:
Contract for Deed
Date of Deed or Contract:
12/28/2021
Purchase amount:
$23,000,000.00
Downpayment amount:
$2,300,000.00
Seller-paid amount:
$0.00
Delinquent Special Assessments and Delinquent Taxes Paid by Buyer:
$0.00
Financing type:
Contract for Deed
Finance Arrangements
Mortgage or contract amount:
$20,700,000.00
Payment type:
Monthly
Payment amount:
$75,504.61
Payment is for:
Principal and Interest
Interest rate type:
Variable
Interest rate:
1.26%
Number of payments:
84
Balloon payment amount:
$0.00
Balloon payment date:
06/15/2028
Personal Property
Personal property included:
Yes
Item:
$500,000.00 - Appliances
Personal Property Total Amount:
$500,000.00
Sales Agreement Questions
Buyer leased before sale:
No
Lease option to buy:
No
Seller leased after sale:
No
Minimum rental income guaranteed:
No
Partial interest indicator:
No
Contract payoff or deed resale:
No
Received in trade:
No
Like exchange (IRS section 1031):
No
Purchase over two years old:
No

Supplementary Information

Buyer paid appraisal:
Yes
Appraisal value:
$0.00
Seller paid appraisal:
No
Appraisal value:
$0.00
Buyer and seller related:
No
Organization tax exempt:
No
Government sale:
No
Foreclosed, condemned or legal proceedings:
No
Gift or inheritance:
No
Name change:
No
Buyer owns adjacent property:
No
Public promotion:
Yes
Significant different price paid:
No
Comment on price difference:

Submitter Information

Submit date:
01/11/2022 11:20:30 AM
Submitter:
Veronica Theobald
Organization:
Ohly Law Office
Email:
veronica@ohlylaw.com
Phone number:
(507) 289-4529
Comments:

Terms Accepted by the Submitter:
I declare under penalty of law that I have examined the information entered and submitted on this form, and, based on what I know and believe to be true, the information entered on this form is complete and correct.