16 Unit Residential Apartment - Tell me about Stickney, IL

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16 Unit Residential Apartment - Tell me about Stickney, IL

Jonathan SorPro Member
Southern California · Member since 2019 · 11 posts · 4 votes

Hi Everyone,

I'm currently looking at a 16 unit apartment in Stickney, IL and was wondering if anyone had any insight about the city. Doing some preliminary research so far and wanted to get a broader scope of opinion from individuals who live in the area and are much more familiar with the city and surrounding area. 

My initial impression is that it's a small town with almost half of it's city proper taken up by the large water reclamation plant.  The city itself seems to be working class with what I would classify as B-/C+ neighborhoods.

I live in Southern California and have only been to the Chicagoland area a few times.  I have a 12 unit in Lansing, IL but haven't had a chance to scout Stickney and the surrounding area yet.  

Any insight would be  Much appreciated,

Jon

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Nathan GesnerBusiness Member
Moderator
Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
4y

It's basically Chicago, which I would avoid like the plague. It seems to be one of the most corrupt, heavily regulated cities in the country. Have you checked the taxes on this property yet?

I get the feeling you found a property and now you're trying to see if the location is worth it. That's trying to fit a square peg into a round hole. Research the area first, then look for property.

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  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    4y

    It's basically Chicago, which I would avoid like the plague. It seems to be one of the most corrupt, heavily regulated cities in the country. Have you checked the taxes on this property yet?

    I get the feeling you found a property and now you're trying to see if the location is worth it. That's trying to fit a square peg into a round hole. Research the area first, then look for property.

    The DIY Landlord Book4.7247 Reviews
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  • Paul De Luca
    Real Estate Agent · Chicago, IL · Member since 2018 · 1k+ posts · 1k+ votes
    4y

    @Jonathan Sor

    I agree with your description of the area. I live in neighboring Berwyn and there are similarities although Stickney has far less 2-4 unit inventory in my experience. For the right opportunity I would have no issue investing there.

    https://www.niche.com/places-t...

    2Reply
  • Jonathan KlemmBusiness Member
    Moderator
    Contractor · Chicago, IL · Member since 2016 · 4k+ posts · 2k+ votes
    4y

    @Jonathan Sor - To be honest I had to google Stickney, but as soon as I saw it on the map I knew where it was.  I like the southwest suburbs of Chicago where Stickney is located, a little north of there is the metra train line which can take you down to the city.  Definitely a blue-collar working area, likely solid cash flow with lower appreciation.  

    Overall I think its probably a good location to invest, generally speaking.  If you need some additional books on the group help, happy to connect.

    [email protected]
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  • Jonathan SorPro Member
    OP
    Southern California · Member since 2019 · 11 posts · 4 votes
    4y
    Quote from @Nathan Gesner:

    It's basically Chicago, which I would avoid like the plague. It seems to be one of the most corrupt, heavily regulated cities in the country. Have you checked the taxes on this property yet?

    I get the feeling you found a property and now you're trying to see if the location is worth it. That's trying to fit a square peg into a round hole. Research the area first, then look for property.

    Shoot I just lost the long winded reply I had written up.

    Thank you for reply and I totally understand where you're coming from.  I felt the same way before I started looking out but so far things are moving along okay with my 12 unit in Lansing, IL.  Hopefully that continues and the scourge and reputation of Chicago doesn't creep too far out beyond it's borders.
    0Reply
  • Jonathan SorPro Member
    OP
    Southern California · Member since 2019 · 11 posts · 4 votes
    4y
    Quote from @Paul De Luca:

    @Jonathan Sor

    I agree with your description of the area. I live in neighboring Berwyn and there are similarities although Stickney has far less 2-4 unit inventory in my experience. For the right opportunity I would have no issue investing there.

    https://www.niche.com/places-t...

    Hi Paul - Thanks for the link to niche.com.  I also checked that out before I posted and I love hearing about city from the people who actually live in there.  Just a quick surface tour on Google Maps shows tons of units that look are cookie cutter of what I'm looking to buy. 
    0Reply
  • Jonathan SorPro Member
    OP
    Southern California · Member since 2019 · 11 posts · 4 votes
    4y
    Quote from @Jonathan Klemm:

    @Jonathan Sor - To be honest I had to google Stickney, but as soon as I saw it on the map I knew where it was.  I like the southwest suburbs of Chicago where Stickney is located, a little north of there is the metra train line which can take you down to the city.  Definitely a blue-collar working area, likely solid cash flow with lower appreciation.  

    Overall I think its probably a good location to invest, generally speaking.  If you need some additional books on the group help, happy to connect.

    Hi Jonathan,

    Thanks for the reply.  I had to do a double take also with Stickney.  I've never seen a city so small especially with half the city proper taken up by a water reclamation plant.  But that's some great info about the surrounding area.  

    If any large rehabs come up on my end I'll be sure to reach out.  Thanks again.

    Jon
    1Reply
  • Crystal SmithPro Member
    Moderator
    Real Estate Broker · Chicago, IL · Member since 2014 · 2k+ posts · 1k+ votes
    4y
    Quote from @Jonathan Sor:

    Hi Everyone,

    I'm currently looking at a 16 unit apartment in Stickney, IL and was wondering if anyone had any insight about the city. Doing some preliminary research so far and wanted to get a broader scope of opinion from individuals who live in the area and are much more familiar with the city and surrounding area. 

    My initial impression is that it's a small town with almost half of it's city proper taken up by the large water reclamation plant.  The city itself seems to be working class with what I would classify as B-/C+ neighborhoods.

    I live in Southern California and have only been to the Chicagoland area a few times.  I have a 12 unit in Lansing, IL but haven't had a chance to scout Stickney and the surrounding area yet.  

    Any insight would be  Much appreciated,

    Jon


    Some facts about Stickney.  At the time of this post the value of commercial properties in Stickney have gone down 49.9% year over year while the rest of the Chicagoland MSA has gone up 23.9% year over year.  There's little to no housing supply in Stickney.  If you already own property in Lansing, think of Stickney as a small Lansing.  It's almost a rural type area.  Stickney, as with many towns in the South Suburbs, has very little industry & as a result you'll have t pay close attention to the real estate taxes. 

    312-681-7487
    2Reply
  • Jonathan SorPro Member
    OP
    Southern California · Member since 2019 · 11 posts · 4 votes
    4y
    Quote from @Crystal Smith:
    Quote from @Jonathan Sor:

    Hi Everyone,

    I'm currently looking at a 16 unit apartment in Stickney, IL and was wondering if anyone had any insight about the city. Doing some preliminary research so far and wanted to get a broader scope of opinion from individuals who live in the area and are much more familiar with the city and surrounding area. 

    My initial impression is that it's a small town with almost half of it's city proper taken up by the large water reclamation plant.  The city itself seems to be working class with what I would classify as B-/C+ neighborhoods.

    I live in Southern California and have only been to the Chicagoland area a few times.  I have a 12 unit in Lansing, IL but haven't had a chance to scout Stickney and the surrounding area yet.  

    Any insight would be  Much appreciated,

    Jon


    Some facts about Stickney.  At the time of this post the value of commercial properties in Stickney have gone down 49.9% year over year while the rest of the Chicagoland MSA has gone up 23.9% year over year.  There's little to no housing supply in Stickney.  If you already own property in Lansing, think of Stickney as a small Lansing.  It's almost a rural type area.  Stickney, as with many towns in the South Suburbs, has very little industry & as a result you'll have t pay close attention to the real estate taxes. 


     Thank you for reply.  Can you elaborate further about why Stickney's commercial properties have gone down 49.9%?  That's a SIGNIFICANT drop.  Are you speaking about commercial residential or commercial office/plazas?  The lack of housing supply would drive up prices no?

    Appreciate any insight you can give me.

    0Reply
  • John Warren
    Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes
    4y

    @Jonathan Sor I think I am the only person on this post who has actually done business in Stickney. The area is the classic blue collar, middle class community. The tenant base is excellent, and these properties would be very stable. The taxes in our area can be pretty high, so make sure you do your due diligence on the taxes. If you need a good tax attorney I can send you the guy we use. I own and manage 114 units in Berwyn, Cicero and Lyons, and I would buy in Stickney in a heart beat if the numbers made sense. I sold an 8 unit to a client there and he couldn't be happier with the area. I also had a house hack client who bought and subsequently sold there who made a killing. 

    1Reply
  • Jonathan SorPro Member
    OP
    Southern California · Member since 2019 · 11 posts · 4 votes
    4y
    Quote from @John Warren:

    @Jonathan Sor I think I am the only person on this post who has actually done business in Stickney. The area is the classic blue collar, middle class community. The tenant base is excellent, and these properties would be very stable. The taxes in our area can be pretty high, so make sure you do your due diligence on the taxes. If you need a good tax attorney I can send you the guy we use. I own and manage 114 units in Berwyn, Cicero and Lyons, and I would buy in Stickney in a heart beat if the numbers made sense. I sold an 8 unit to a client there and he couldn't be happier with the area. I also had a house hack client who bought and subsequently sold there who made a killing. 

    Thank you John that was excellent information.  If you don't mind I'd like to send you a DM so we can chat further.  
    0Reply
  • Naeem Barbour
    Chicago Heights, IL · Member since 2017 · 43 posts · 8 votes
    4y
    Quote from @Jonathan Sor:

    Hi Everyone,

    I'm currently looking at a 16 unit apartment in Stickney, IL and was wondering if anyone had any insight about the city. Doing some preliminary research so far and wanted to get a broader scope of opinion from individuals who live in the area and are much more familiar with the city and surrounding area. 

    My initial impression is that it's a small town with almost half of it's city proper taken up by the large water reclamation plant.  The city itself seems to be working class with what I would classify as B-/C+ neighborhoods.

    I live in Southern California and have only been to the Chicagoland area a few times.  I have a 12 unit in Lansing, IL but haven't had a chance to scout Stickney and the surrounding area yet.  

    Any insight would be  Much appreciated,

    Jon


     Hey Jonathan, Amazed how your in Cali and found a 12 unit property. How did you go about finding it? I'm actually in the Chicagoland area.

    0Reply
  • Jonathan SorPro Member
    OP
    Southern California · Member since 2019 · 11 posts · 4 votes
    4y
    Quote from @Naeem Barbour:
    Quote from @Jonathan Sor:

    Hi Everyone,

    I'm currently looking at a 16 unit apartment in Stickney, IL and was wondering if anyone had any insight about the city. Doing some preliminary research so far and wanted to get a broader scope of opinion from individuals who live in the area and are much more familiar with the city and surrounding area. 

    My initial impression is that it's a small town with almost half of it's city proper taken up by the large water reclamation plant.  The city itself seems to be working class with what I would classify as B-/C+ neighborhoods.

    I live in Southern California and have only been to the Chicagoland area a few times.  I have a 12 unit in Lansing, IL but haven't had a chance to scout Stickney and the surrounding area yet.  

    Any insight would be  Much appreciated,

    Jon


     Hey Jonathan, Amazed how your in Cali and found a 12 unit property. How did you go about finding it? I'm actually in the Chicagoland area.


     Hi Naeem,

    I actually have a broker that I use that's based in the Chicago area.  Let me know if you want me to connect you with them.  

    - Jon

    0Reply
  • Naeem Barbour
    Chicago Heights, IL · Member since 2017 · 43 posts · 8 votes
    4y

    Yes! I'd really appreciate that!

    0Reply
  • Jonathan KlemmBusiness Member
    Moderator
    Contractor · Chicago, IL · Member since 2016 · 4k+ posts · 2k+ votes
    4y

    @Jonathan Sor - Sounds like we are on the same page.  Looking forward to your next big Chicago rehab coming up haha

    [email protected]
    Quality Builders4.966 Reviews
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