Chicago, United States of America
A fantastic investment opportunity, this property is comprised of a townhouse, originally constructed in 1962. The property offers a spacious living area of 118 square meters and has 3 bedrooms, 1 bathroom, a kitchen and a living room.
Neighbourhood: South Shore
Our real estate team have identified the South Shore district, Michelle (Robinson) Obama’s childhood neighborhood, as one that is primed for real estate investment in 2021. Rental demand is underpinned by professional tenants from the Jackson Medical center and the University of Chicago. The area is undergoing significant gentrification due to the proximity of the Jackson Park Yacht Club, the Obama Presidential Center and the Tiger Woods Jackson Park project.
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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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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