FIX AND FLIP LOAN
Oak Park, IL
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The Numbers Behind the Flip*
Project Duration
October 2022 - September 2025
Loan Amount
$506,000
Purchase Price
$265,000
Construction Budget
$275,800
Client Contribution
$34,800
Total Project Cost
$540,800
ARV
$620,000
Resale Price
$592,000
*At the time of initial funding
Barnett REI Finance funded a $506,000 loan for a fix and flip project in Oak Park, IL. The purchase price was $265,000 and the construction budget was $275,800. Because the property was in a historical district, the borrower encountered extensive permitting delays that pushed the payoff date from April 2023 to September 2025. The prolonged timeline created higher than expected costs. The property ultimately sold for $592,000 compared to the ARV of $620,000. This project is a lesson about the setbacks investors may face when working in areas with strict regulations.
Profitability & Lessons Learned
Inside the Deal
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842 Mapleton Oak Park, IL
