Anyone familiar with Macomb IL??

3 Replies

Hi BP: Is anyone familiar with Macomb IL? This is where Western Illinois is located. Have the opportunity to purchase 3 properties from a friends parents and I am trying to learn more about the city and find a property manager. I will be calling agents there but would like to get some advice from anyone that knows the area and can discuss it regarding long term investments. I read and hear some good and bad things about the state in general and just want to make I am analyzing correctly and asking the right questions. I did order David Greene’s book today about investing out of state but wanted to go ahead and start gathering info now! Thanks Kelly

I’m not a negative person but.... enrollment at WIU is way down the university recently demolished one large dorm tower. I would imagine it’s a buyers market don’t over pay a friends parent just because it’s a friend.

Hi @Kelly Kormos

I went to school at western about 5 years ago. I'm only familiar with it from that regard. However, I have been back a few times. I know enrollment is down almost 20% from 10 years ago, so be careful with that. They built a few new complexes in the 2000-2010 timeframe. When I started there, they were full. My understanding is those places are under 90% occupied now. I think that is partially because of Illinois being a mess, but Macomb also doesn't need have a ton of job prospects for people to work during school. And I know some bigger places closed while I was there. I would just trend lightly and really watch that admission level if you do decide to jump in.

@Eric Hardt and @Rich Nordstrom that is what I have been hearing- the school is not doing well.  I saw there was a hospital there but without other employment opportunities I worry about the future of being able to find tenants.  They are wanting to move out of the area so they really want to get rid of the properties so I am sure we could work something out beneficial financially for everyone if I think worth paying anything to be in the area.  These opportunities don’t always present themselves especially across the country so just want to make sure I do the best due diligence I can...thank you both for your input.  

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