Chicago - United States of America
A fantastic investment opportunity, this property offers annual rental returns of 9.24%* and is comprised of two single-family homes, originally constructed in 1985. The main house offers a spacious living area of 148.6m2 and has 5 bedrooms, 2 bathrooms and 2 kitchens. The coach house offers a spacious living area of 83.6m2 and has 3 bedrooms, 2 bathrooms and 1 kitchen.
The property includes a finished basement and 3 garage spaces which is perfectly placed for families.
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 fully certified and comes under the Federal Government's Section 8 program. There is an existing Section 8 tenant in place and his lease will be transferred to the new owner. Further info for Section 8
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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.
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