163 East 23rd Street

Chicago, United States of America

Properties > 163 East 23rd Street
FUNDING TARGET
$105,300
INVESTMENT TERM
4 years
EST. ANNUAL RETURN
9.37%
100% FUNDED
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Description

A fantastic investment opportunity, comprised of 2 single-family units, offering an estimated annual average return of 9.37%*. Each 2 bedroom 1 bathroom unit has a large living room and formal dining room and has 113.4m2 of living space (226.9m2 total). The property also has a full finished basement, cellar and a large detached garage.

Furthermore, it is ideally located in the Chicago Heights area of Chicago with many green spaces and schools, making it ideal for families and young professionals alike.


About the area

Chicago is located in northeastern Illinois on the southwestern shores of freshwater Lake Michigan and is among the largest cities in the U.S. Chicago is an international hub for finance, culture, commerce, industry, education, technology, telecommunications, and transportation.

Chicago's O'Hare International Airport is routinely ranked among the world's top six busiest airports according to the Airports Council International. In addition, the region has the largest number of federal highways and is the nation's railroad hub meaning the Chicago area has one of the highest gross domestic products (GDP) in the world, generating $689 billion in 2018.

The economy of Chicago is diverse, with no single industry employing more than 14% of the workforce. It is home to several Fortune 500 companies, including Allstate, Boeing, Caterpillar, Exelon, Kraft Heinz, McDonald's, Mondelez International, Sears, United Airlines Holdings, US Foods, and Walgreens.

Chicago had 58 million tourist visitors in 2018 and has been voted the best large city in the U.S. for four years in a row (2017-2020) by Condé Nast Traveler. The city also ranked first in the 2018 Time Out City Life Index.

Landmarks in the city include Millennium Park, Navy Pier, the Magnificent Mile, the Art Institute of Chicago, Museum Campus, the Willis (Sears) Tower, Grant Park, the Museum of Science and Industry, and Lincoln Park Zoo.

Of the area's many colleges and universities, the University of Chicago, Northwestern University, and the University of Illinois at Chicago are classified as "highest research" doctoral universities. Chicago has professional sports teams in each of the major professional leagues, including two Major League Baseball teams.


Selling points

Strong Tenant

Currently there is 1 tenant MTM in one of the units. The tenant has been in place for 4.5 years. The second unit has been recently vacated for the sale to allow potential new owner to move in and will be marketed upon acquisition.

Strong Market Fundamentals

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

Excellent Condition

This property has undergone a detailed property inspection and has been recently refurbished. This, added to a built-in reserve for pre-sale renovations position the property for capital gains on exit of the investment.


Investment Timeline
  • Funding started
    24th June 2021
  • Funding complete
    29th July 2021
  • Rental starts
    20th Aug. 2021
  • Returns start
    1st Sept. 2021
  • Year 1 returns
    1st Sept. 2022
  • Year 2 returns
    1st Sept. 2023
  • Year 3 returns
    1st Sept. 2024
  • Year 4 returns
    1st Sept. 2025
  • Property sold

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