Unit A, 7118 South Parnell Avenue

Chicago, United States of America

Properties > Unit A, 7118 South Parnell Avenue
FUNDING TARGET
$65,000
DAYS LEFT
Fully Funded
INVESTMENT TERM
4 years
EST. ANNUAL RETURN
9.44%
100% FUNDED
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Description

A fantastic investment opportunity originally constructed in 1959, this Chicago Townhouse offers annual rental returns of 9.44%*. The property offers a spacious living area of 87.7mand has 2 bedrooms and 1 bathroom.

The property is currently undergoing a full refurbishment which will be completed in September 2021. The work includes the full repair of floors and walls throughout, replacement of broken doors and windows, replacement of bathroom tiles and the kitchen cabinets and will be repainted. In addition, the property is Ideally located in a quiet neighborhood close to Hamilton Park. 


Amenities

Englewood / Hamilton Park

Our real estate team have identified the Englewood area, as one that is primed for real estate investment in 2021. Hamilton Park is part of the Chicago South Side and situated just south of Chicago’s Loop. The neighborhood has witnessed ongoing development over the past decades.

This neighborhood includes the Hamilton Park, which it was the first public park in Englewood and offers a big green area with playgrounds, sport courts and pool. Moreover, features the Hamilton Park Cultural Center – Fieldhouse that offers auditorium, dance studio and multi purpose rooms.


About the area

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.

Selling points

Strong Tenancy: The property is currently vacant, and it is expected the new tenant to be Section 8 and will provide a new long-term lease agreement. The area enjoys strong rental demand from families..

Strong Market Fundamentals: Our experienced and professional real estate team reviews each and every Bricksave deal utilising our AI driven, Algorithmic real estate sourcing program.

Excellent Condition:  The property is currently being refurbished and will be in excellent condition before the new tenant is in place. 


Investment Timeline
  • Funding started
    22nd Sept. 2021
  • Funding complete
    24th Sept. 2021
  • Rental starts
    24th Oct. 2021
  • Returns start
    1st Nov. 2021
  • Year 1 returns
    1st Nov. 2022
  • Year 2 returns
    1st Nov. 2023
  • Year 3 returns
    1st Nov. 2024
  • Year 4 returns
    1st Nov. 2025
  • Property sold


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