Chicago - United States of America
A fantastic investment opportunity, this property is comprised of a single-family home, originally constructed in 1941. The property has 3 bedrooms, 1 bathrooms, a kitchen, a dining room and a living room.
Neighbourhood: Jeffrey Manor
Jeffery Manor is part of the Chicago South Side and is an atypical Chicago neighborhood because the curving street layout differs from the rest of Chicago. This quirky street pattern gives Jeffery Manor a unique character that its residents are endeared to. Jeffrey Manors is a suburban area with extra space, green areas, trees and backyards.
Voted by Conde Nast as the best city in the US for the ninth 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 has influenced the history of American architecture and Chicago’s buildings in a variety of styles by many important architects. The Median Home value is expected to increase by 4.36% by the end of this year. The rent increased by 6.8% over the last year, following an increase of 13.4% in 2 years. Inventory of properties for sale was reduced by 18.5% over the last 12 months.
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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.
This property has undergone a detailed inspection and only minor decorative repairs are required in order to achieve the target rent and maximise the returns.
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