Chicago - United States of America
A fantastic investment opportunity, this property is comprised of a townhouse, originally constructed in 1942. The property has 3 bedrooms, 1 bathroom, a kitchen and a living room.
Neighbourhood: South Shore
Our real estate team have identified the South Shore district, Michelle (Robinson) Obama’s childhood neighborhood, as one that is primed for real estate investment in 2022. Rental demand is underpinned by professional tenants from the Jackson Medical center and the University of Chicago. The area is undergoing significant gentrification due to the proximity of the Jackson Park Yacht Club, the Obama Presidential Center and the Tiger Woods Jackson Park project.
Voted by Conde 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 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. Median property values in Chicago increased by 8.4% over the last 12 until September 2022. The rent increased by 8.6% over the same period, following an increase of 10.8% in 2021. Inventory of properties for sale was reduced by 19.5% over the last 12 months until September 2022.
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.
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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