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Closing for Mirror Building Tuesday

Posted by wlpo on August 30, 2010

A property is never really sold until the deal closes.  Tuesday is closing on the sale of the Mirror Building in Peru.

Mitchell Kahl  of The Phoenix Group is buying the three-story building next to Maud Powell Plaza from the City of Peru for $650,000 dollars.

Kahl owns the Phoenix Group insurance office on Progress Boulevard.  Plans were for Kahl to own the building and rent it to his company.

The building was listed with five Peru real estate agencies.  Each are receiving commission, with Janko Realty receiving a larger percentage since they were the selling agent.

A $580,000 mortgage with 5% interest remains.

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