Downtown Building for Sale!

By:  Diane Benjamin

https://www.point2homes.com/US/Commercial-For-Sale/IL/Bloomington/Downtown-Bloomington/602604-N-Main/51134568.html

The building is owned by downtown supporter Mike Manna.

Is he fleeing?

One caveat:  The taxes listed are on a much lower Assessed Value:   $93,787

http://mcleanil.devnetwedge.com/view/RE/21-04-178-016/2017

Multiply that by 3.33 and it is supposedly the value of the building.

That would be $281,361.

Is the asking price too high or the assessment too low?

The price last December was $599,900.

If you are buying ANY property in McLean County –

check the Assessed Value here:  http://mcleanil.devnetwedge.com/

You could be in for a nasty shock if you don’t.  The taxes on this property double if it sells at this price.

.
.
.
.
.
.
.
.
.

Advertisements

Comments

  1. Diane, thank you for linking the assessment site. In the spirit of our local government and their operating principles, I’m going to chose NOT to follow the law. I don’t like our tax law. It’s unfair. It separates me from my family and my earnings. So I painted a sign with a catchy slogan and am going to stand on the corner and chant. Because tax law is just mean. Heartless.

    Like

  2. $99,900 for the business only seems pretty low for a bar that has a decent crowd, when ISU/IWU are in session. Sounds like he’s fleeing…

    Like

  3. sticky bean says:

    Noting the fact that the building holds a tavern business and apartment rentals, the asking price may only include the assessed value for the actual building. On the paper deal, it’s all negotiable.

    Like

  4. Angela Scott says:

    The assessed value is meaningless if the City buys it right? Taxpayers are in real estate now aren’t we?

    Like

  5. garibaldi says:

    Maybe ex-govenor Jim Thompson got the taxes reduced.

    Like

  6. With Tari supporter Millionaire Mike Manna selling out in downtown Bloomington… does that means that the rats are abandoning the sinking ship?

    Like

  7. The OLD susies cafe. WAS a GREAT gathering place for locals BEFORE the area was OVERRUN with liquor establishments. WHO’S to say WHAT the value of property in downtown is?
    A nice corner lot and a established business, BUT! once it is built and WILL they come?
    I’d REALLY like to see downtown as it ONCE was, when my dad and I used to go there,
    It WAS DIVERSE! Putnam’s bookstore, the antique mall, shoe shops, the 5 and dime stores, Montgomery Wards and Rolands, Moores Luggage Shop and such. ALL GONE!
    NOW it’s just , well, lala land! HECK even the lady who owned CII east building took off!
    MAYBE we’ll get another really cool business or two to settle down there. That’d be a GREAT start!
    Of course Tari would HAVE to take the paintings out of his office so SOMEONE could open an art gallery and make it a FAIR deal. RIGHT TARI? wink, wink,

    Liked by 1 person

  8. BN Deserves Better says:

    I’m so glad that we brought the Downtown Business Association under the City government and gave them a bigger budget. Seems like ol’ Trish is doing a bang-up job. Half the downtown is vacant or up for sale. The other half expects you the taxpayer to subsidize their business. Any takers on the State Farm building? I heard there’s a big demand…hahahahahahaha!

    Like

Trackbacks

  1. […] The Secretary of State’s office shows the Agent for this LLC is Mike Manna, the same guy who owns the building in yesterday’s story:   https://blnnews.com/2018/05/23/downtown-building-for-sale/ […]

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s

. .

wordpress stats plugin
%d bloggers like this: