Chicago, United States of America
A fantastic investment opportunity, this property is comprised of a single-family home. The property has 3 bedrooms, 2 bathrooms, a kitchen and a living room. The property is located in West Pullman and enjoys a privileged location with expressway, tram and shops nearby.
Neighbourhood: West Pullman
West Pullman is located 14 miles south of the Loop and in the last decades, it has transformed from an industrial labour place to one with an unexpectedly high incidence of parkland and other outdoor recreation sites attracting families. In this neighbourhood is located one of the famous houses of the recognized architect Frank Lloyd Wright, incorporating geometric forms and elements of Japanese patterns.
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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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.
The property will be professionally refurbished and will be delivered turnkey ready for the new tenants. It is expected the value of the property will increase considerably upon completion.
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