Chicago, United States of America
A fantastic investment opportunity, this property offers annual rental returns of 9.00%* and is comprised of multi-family home, originally constructed in 1940 and consist of two units.
The first unit has 3 bedrooms, 1 bathroom, a large living room, kitchen and dinning room. The second unit has 2 bedrooms, 1 study room, 1 bathroom, a large living room, kitchen and dinning room.
The property has been recently refurbished and has new roof, new siding, new water heaters and its newly painted.
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.
Our real estate team have identified the South Chicago area, as one that is primed for real estate investment in 2021. South Chicago it is located 10 miles Southeast of the Loop and situated at the mouth of the Calumet River. This neighborhood is a residential area that offers mostly single-family homes and fewer multi-units and provide families with numerous amenities, great parks, spacious private yards and garage parking. The City of Chicago is sponsoring South Chicago redevelopment, representing one of the largest sustainable neighborhood revitalization development in the country and should serve as a guide to the City of Chicago for the next 25 years.
Currently there is a tenant in one of the units. The second unit is vacant and it is expected the new tenant will provide a new long-term lease agreement
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The coach house has been recently refurbished and the main house will be refurbished before the new tenant moves in. This property has undergone a detailed property inspection. A built-in reserve has been added for pre-sale renovations which position the property for capital gains on exit of the investment.
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