PROPERTY UPDATES

We are so excited to have the opportunity to move forward on the purchase of a church building, and we want YOU to be a part of it! Below is a timeline and information that will help you know where we are at in the process, and will help you stay up-to-date on news, changes, and other information related to our new home.  We invite you to pray and partner with us through prayer, financial gifts, and support as we transition into our new home!

PROPERTY Information Meeting

This meeting took place on Sunday, January 17th. We shared information related to the property; including where we are at in the purchase process and other information.

If you are a regular attender of Chapel Valley Church and you were unable to attend the online meeting, you can request a link to the recorded video by emailing us with the link below.

CHURCH PROPERTY Information

  • Location: 3102 Prairie Rd, Madison, WI 53719
  • Neighborhood: North Maple Grove (West Madison); across the street from Maple Prairie Park. Near the intersection of Hwy PD & Maple Grove Dr
  • Building Size: 17,200 sf
  • Lot Size: 4.53 acres
  • Year Built: 1990

VIRTUAL PROPERTY TOUR

Church Property Timeline

ACCEPTED OFFER 

(Completed; Nov. 18, 2020)


  • Place offer on potential church property and receive Accepted Offer.
  • The proposed offer has been determined and based on asking price, and under the advice of the buyer’s agent, as well as the pastors and the church council of Chapel Valley Church.

PROPERTY TOURS

(Sunday, December 12th; 8:30-10AM)


  • We will be giving tours of the property to members and regular attenders of Chapel Valley Church.
  • We will ask for a majority vote from the congregation during the tours to continue to move forward in the purchase of the property. 
  • Tours are available to members and regular attenders of Chapel Valley Church.
  • Note: Each tour will be limited to 10 people to adhere to current safety mandates. Masks are required for all tours.

Please sign-up and register for a time that works for you

PROPERTY Inspection

(Scheduled; Dec. 12, 2020)


  • A licensed property inspector will identify places of maintenance needed on the property and other potential repairs or costs, and determine overall quality of the building and property. 
  • A professional appraiser will do a value appraisal on the property (including buildings and improvements) to ensure our proposed offer is within reason of purchase. (Date TBD)

Possible amendment to offer to purchase

(Anytime after property inspection)


  • After the property inspection has been completed, we have the opportunity to review the results and determine if we need to amend our offer to include any financial credits or repairs for other maintenance to be received at or prior to Closing
  • Proposed Amendment details will be determined by the pastors and church council before submission for seller review.
  • UPDATE: The seller has agreed to a $160,000 price reduction to offset deferred maintenance and other repair costs on the property.

Financing

(In-process)


  • We are thankful that we have a large amount in-hand to purchase the church property. We are in conversation with several lenders to consider down payment options, interest rates, and the amount of finances available.
  • The total amount of financing needed is dependent upon repair costs, buyer credits from amendments, financial gifts and assets available, and other purchases as needed and approved by the church council.

ICFG Approval

(Deadline; Feb. 18, 2021)


The International Church of the Foursquare Gospel (ICFG) Board will review all documents, inspections, reports, and financial terms for final approval.

CLOSING

(Deadline; Mar. 20, 2021)


After all due diligence has been completed, we will sign all remaining documents to complete the purchase of the new property.