143 West 71st Street

Chicago, United States of America

Properties > 143 West 71st Street
FUNDING TARGET
$134,800
DAYS LEFT
Fully Funded
INVESTMENT TERM
4 years
EST. ANNUAL RETURN
8.09%
100% FUNDED
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Description

A fantastic investment opportunity, this property is comprised of a single-family home, originally constructed in 1885. The property offers a spacious living area of 175.77 square meters and has 4 bedrooms, 3 bathrooms, a kitchen and a recreation room. The property is located very close to Hamilton Park.


About the area

Neighbourhood: Great Grand Crossing

Grand Crossing is located next to the expressway and South Shore district, Michelle (Robinson) Obama’s childhood neighbourhood, With low property prices, rental demand is underpinned by professional tenants from the St. Bernard Hospital and the University of Chicago. The area is undergoing significant gentrification due to the proximity of the Washington Park, the Obama Presidential Center and the Tiger Woods Jackson Park project which will help increase values and demand over the coming years.

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.

Selling points

Strong Tenancy

The property is fully certified and comes under the Federal Government's Section 8 program. There is an existing Section 8 tenant in place and his lease will be transferred to the new owner. Further info for Section 8

Strong Market Fundamentals

Our experienced and professional real estate team review each and every Bricksave deal utilising our AI driven, Algorithmic real estate sourcing program.

Excellent Condition

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.


Investment Timeline
  • Funding started
    24th Feb. 2022
  • Funding complete
    5th April 2022
  • Rental starts
    5th May 2022
  • Returns start
    1st June 2022
  • Year 1 returns
    1st June 2023
  • Year 2 returns
    1st June 2024
  • Year 3 returns
    1st June 2025
  • Year 4 returns
    1st June 2026
  • Property sold


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