Chicago Musictown Opportunity Zone
Curious if anyone has heard of, or has any reviews about the Chicago Musictown Opportunity Zone investment that I keep getting emails about? Is it legit or not? Hard to find much information on it other than maybe one or two webinar videos. Their website doesn’t even work.
After contacting them I feel I’m getting a high pressure, act now kind of treatment that isn’t sitting well with my gut. Just want to be careful. Thank you!
Most Popular Reply
RUN lol. Out of state investors in D class areas is a disaster waiting to happen. The returns will not end up how they look on paper or anywhere near it and if it's a syndication you might see a total loss of capital. Just do google maps of the area and see all the failed apartment buildings now sitting vacant that ended in total loss.
Chicago has lots of great areas that offer a mix of cashflow + appreciation but they are typically the B or better areas. Some areas to look at... Albany Park, Irving Park, West Logan Square, Hermosa, Mckinley Park, Brighton Park, Bronzeville. If you want to do syndications and are accredited there are some good developers working in these areas on the various platforms, I always recomend just buying a 4 unit yourself though.