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Located in the Town of Chester, this mixed-use property presents a rare opportunity to acquire a distinctive asset in one of Connecticut's most desirable markets. As it stands, the property consists of approximately 5, 000 square feet of commercial space, including one loading dock, three (3) garages, and an oversized on-site parking lot, supporting a wide range of operational and occupancy needs. The commercial component is currently configured as a combination of studio/gallery space, storage, and warehouse-style areas, broken down into six (6) clearly defined spaces, and features 10+ foot ceiling heights well suited for creative production, exhibition, fabrication, or light industrial-style use. In addition, the property includes two (2) existing 2-bedroom residential apartments, offering flexibility for live/work, income-producing, or owner-occupant scenarios. The improvements are situated on over 2 acres of land, and a defining feature of the property is its natural and scenic environment. Waterhouse Brook flows directly through the site, creating a tranquil backdrop, while the property enjoys a line of sight toward Gillette Castle, adding to its distinctive character and long-term appeal. The property has an ownership history linked to the late, renowned conceptual artist Sol LeWitt and served as his first warehouse facility in Chester, supporting the storage and handling of artwork during the early period of his time in the region. Consistent wit context, zoning identifies "Art Facility" as a permitted use within the district, which may support studio, gallery, exhibition, instructional, and live/work applications, subject to applicable approvals and conditions. The asset is being delivered free of tenants, providing an incoming owner with immediate flexibility to reposition, adaptively reuse, or owner-occupy without lease rollover or displacement risk.
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William Raveis Real Estate
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William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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|---|---|---|---|
| Loan Amount | $680,000 | $680,000 | $680,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.250% | 5.875% | 5.625% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.069% | 5.984% | 5.806% |
| Monthly Tax Payment | $882 | $882 | $882 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $3,755 | $4,022 | $5,601 |
| Total Monthly Payment | $4,729 | $4,996 | $6,575 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.