Chicago - United States of America
A fantastic investment opportunity, this property is comprised of a single-family home, originally constructed in 1917. The property has 2 bedrooms, 1 bathroom, a kitchen, and a living room.
Voted by Conde Nast as the best city in the US for the ninth year in a row, Chicago, with its vast green spaces and world-renowned architecture, is now taking the culinary world by storm with multiple world class restaurants as diverse as the city itself. Centrally located in the US, its airport hub at Midway is fueling the cities renaissance and growth.
Chicago is the third-largest city in the U.S., right behind New York and Los Angeles, a major world financial center and home to the second-largest central business district in the U.S. Key industry sectors in Chicago include business and professional services, food industry, transportation, and logistics, life sciences and healthcare, technology, and manufacturing. Much of the Housing Stock in Chicago was built prior to World War II, making it one of the older and more historic cities in the country. The architecture of Chicago has influenced the history of American architecture and Chicago’s buildings in a variety of styles by many important architects. The Median Home value is expected to increase by 4.36% by the end of this year. The rent increased by 6.8% over the last year, following an increase of 13.4% in 2 years. Inventory of properties for sale was reduced by 18.5% over the last 12 months.
Washington Heights is located about 12 miles south of downtown Chicago and is a mainly urban neighborhood consisting of primarily medium-sized to large single-family homes and small apartment buildings. The home vacancy rates in this neighborhood are one of the lowest across the U.S. There are various schools and at least 2 different train lines that connect the area through the city and surrounding areas.
The property is currently vacant and the area enjoys strong rental demand from families and professionals. It is expected a new Section 8 tenant will provide a long-term lease agreement.
The property will be professionally refurbished and will be delivered turnkey ready for the new tenants. It is expected the value of the property will increase considerably upon completion.
2 year investment period
This investment features a shorter term to provide greater liquidity and flexibility, helping investors diversify their portfolio and reduce exposure to any less favourable market trends.
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