John Kidd's Position
Ownership & Claim
- Ownership interest in Marquette Real Estate LLC50% owner
- Private loan to Marquette (capital contribution)$800,000
- Sought: full loan repayment + 50% equity distribution + removal from ownership / guaranteesDissolution
Portfolio Summary (Conservative)
$6,295,000
Portfolio Value
$3,018,576
Total Bank Debt
$800,000
John's Private Loan
$3,276,424
Equity Before Loan
Equity Waterfall & John's Claim
- Portfolio value$6,295,000
- Less: total bank debt− $3,018,576
- Equity before private loan$3,276,424
- Less: John's private loan ($800,000)− $800,000
- Remaining distributable equity$2,476,424
- John's 50% equity share$1,238,212
- John's total claim — loan ($800,000) + 50% equity ($1,238,212)$2,038,212
12 Properties
Group A — Marseilles Core
Properties Eric proposed to retain.
1
1060 Orange Ave
Marseilles, IL
Units8
Estimated value$590,000
Mortgage balance$270,000
Equity$320,000
2
1070 Orange Ave
Marseilles, IL
Units12
Estimated value$860,000
Mortgage balance$566,423
Equity$293,577
3
390 Railroad St
Marseilles, IL
Units4
Estimated value$290,000
Mortgage balance$0 · Free & clear
Equity$290,000
4
1002 Bratton Ave (Marseilles Ranch)
Marseilles, IL
Units8
Estimated value$460,000
Mortgage balance$281,720
Equity$178,280
Units
32
Value
$2,200,000
Debt
$1,118,143
Equity
$1,081,857
Monthly rent ~$30,110 · Annual cashflow ~$225,300
Group B — Modeled for Sale
Eight buildings modeled for sale in the dissolution scenario.
5
715 E Central Ave
Princeton, IL
Units6
Estimated value$385,000
Mortgage balance$120,364
6
314 S Bureau Ave
Ladd, IL
Units4
Estimated value$230,000
Mortgage balance$65,210
7
102 S Main St
Ladd, IL
Units8
Estimated value$435,000
Mortgage balance$213,228
8
443 3rd St
LaSalle, IL
Units7
Estimated value$450,000
Mortgage balance$198,282
9
519 Marquette St
LaSalle, IL
Units4
Estimated value$250,000
Mortgage balance$100,603
10
107 Heaton St
Walnut, IL
Units7
Estimated value$325,000
Mortgage balance$129,695
11
1007 Green Ridge Ave
Earlville, IL
Units16
Estimated value$1,020,000
Mortgage balance$584,883
12
301 E Cleveland St
Ladd, IL
Units12
Estimated value$1,000,000
Mortgage balance$473,428
Units
64
Value
$4,095,000
Loan Balances
$1,885,693
Buildings
8
Mortgage Summary
| Group A — retained properties (individual balances listed above) | $1,118,143 |
| 301 E Cleveland St, Ladd | $473,428 |
| 715 E Central Ave, Princeton | $120,364 |
| 314 S Bureau Ave, Ladd | $65,210 |
| 102 S Main St, Ladd | $213,228 |
| 443 3rd St, LaSalle | $198,282 |
| 519 Marquette St, LaSalle | $100,603 |
| 107 Heaton St, Walnut | $129,695 |
| 1007 Green Ridge Ave, Earlville | $584,883 |
| Total bank debt across all 12 properties | $3,018,576 |
Tax & Cost Estimates — 8-Building Sale
| Closing costs (5%) | $204,750 |
| Federal depreciation recapture (~25%) | Applies |
| Federal capital gains (20% + 3.8% NIIT) | Applies |
| Illinois state tax (4.95%) | Applies |
| Total estimated tax on 8-building sale | ~$349,453 |
CPA confirmation needed for exact figures.
All 12 properties photographed. One image (443 3rd St, LaSalle) sourced from Google Street View — remaining 11 are John's photos.
Notes
- Property values are estimates based on prior portfolio analysis. Formal appraisals are recommended.
- Additional company assets (vehicles, equipment, accounts) are not included here — to be provided separately.
- John's $800,000 loan is a private capital contribution to Marquette Real Estate LLC.