Chicago, United States of America
A fantastic investment opportunity, this property is comprised of three single-family homes, originally constructed in 1927.
Each units offers a spacious living area of 62.3m2 and has 3 bedrooms and 1 bathroom.
In addition, the property is surrounded by many green areas and is within walking distance from the Forest Preserves of Cook County.
Neighbourhood: Calumet City
Calumet City is a southern suburb of Chicago, about 20 miles south of the Loop. This neighbourhood is a residential area that offers mostly single-family homes and provides families with numerous amenities, great parks and the Wentworth Prairie Forest Preserve. According to NeighborhoodScout, in the last decade, the appreciation rates in Calumet City have been tracking above the average and has continued to appreciate in value faster than most communities.
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 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.
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 new long-term lease agreement.
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