Chicago, United States of America
A fantastic investment opportunity, this property offers annual rental returns of 8.70%* and is comprised of a townhouse brick home, originally constructed in 1991. The property offers a spacious living area of 96.6m2 and has 3 bedrooms, 2 bathrooms, and a dinning area. The property is located across the Auburn Park, which offers a lagoon, a waterfall and benches and its is a green oasis in the heart of the city.
Our real estate team have identified the Winneconna Parkway area, as one that is primed for real estate investment in 2021. Winneconna Parkway is located 9 miles southwest of the Loop. The neighborhood has witnessed ongoing development over the past decades. This is primarily a residential area and locals can easily access a broad range of shopping, dining, and entertainment. In this neighborhood there is the Auburn Park, a green oasis in the heart of the city that offers a lagoon, a waterfall and benches. The houses surrounding Auburn Park overlook the lagoon and its beautiful stone bridge.
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.
The property is currently vacant, and it is expected the new tenant will provide a new long-term lease agreement. The area enjoys strong rental demand from families.
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The property has undergone a thorough inspection and has been confirmed to be in excellent condition. A built-in reserve has been included to update the property when the tenant moves out and for pre-sale renovations which position the property for capital gains on exit of the investment.
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