Chicago, United States of America
A fantastic investment opportunity, this property is an incredibly spacious dual entranced three units building. Each unit has 3 bedrooms, 1 bathroom, a kitchen and a living room. Each apartment has its own furnace and water heater. This vintage corner building, located on two one-way, tree-lined streets, sits within walking distance of the Grand Crossing Park and abundance of public and transit options.
Neighbourhood: South Side - Chatam
Chatham is located 10 miles south of the Loop. Chatham is a South Side neighbourhood and is one of the most historically significant areas of the city. This area has defined the city's culture and character and has incorporated people from all over the world creating an international culture. Chatham is one of the most family-friendly neighbourhoods in the South Side area. Moreover, It is forecasted that the total appreciation in this area will be significantly increased up to 39,43% over the next 3 years.
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 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 increased 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 long-term lease agreement.
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