Chicago - United States of America
A fantastic investment opportunity, this property offers annual rental returns of 8.35%* and is comprised of a single-family home, originally constructed in 1915. The property offers a spacious living area of 70.6 sq. meters and has 4 bedrooms, 2 bathrooms and an unfinished basement. Furthermore, the property is within walking distance to Palmer Park and opposite the Christian Fenger High School.
Neighbourhood: West Roseland
West Roseland is located 13 miles south of the Chicago Loop and is a mainly commercial district that consists of single-family homes with 2 or 3 bedrooms. Most of the residential real estate is owner-occupied. In this neighbourhood, there are various schools, the Roseland Community Hospital and Palmer Park. Moreover, the houses surrounding West Roseland are located in proximity to Lake Calumet which is the largest body of water within the city of Chicago.
Voted by Condé Nast as the best city in the US for the fourth 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 fuelling 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 centre 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 have influenced and reflected the history of American architecture and Chicago’s buildings in a variety of styles by many important architects. Median household incomes in Chicago grew by 3% over the last year, while median property values increased by 11.9%. Median home sales prices in Chicago are projected to keep rising in 2021 and are forecasted to increase by 8.4% until 2022.
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This property has undergone a detailed inspection and has recently been refurbished. This, in addition to a built-in reserve for pre-sale renovations, positions the property for capital gains on exit of the investment.
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.
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