Chicago 8 unit building, is this a bad neighborhood?

Multi-Family and Apartment Investing
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Chicago 8 unit building, is this a bad neighborhood?

Alex Kholodenko
Specialist · Belmont, CA · Member since 2015 · 18 posts · 4 votes

Anyone from Chicago?

This 8 unit looks interesting but I see in trulia that its in high crime area.

701 W 80th ST, Chicago, IL 60620 

Is it worth checking it out?

Should I avoid this neighborhood?

http://www.trulia.com/homes/Illinois/Chicago/sold/...

The numbers looks good but the area worries me.

Please advise.

Appreciate your help.

http://www.loopnet.com/Listing/19808202/701-W-80th...

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Account Closed
Chicago, IL · Member since 2014 · 2 posts · 1 vote
10y

@Alex Kholodenko, if the seller is willing to carry a first of 150k you need to pause and ask yourself why.

The link below reveals more shootings in the area near subject than would make me feel comfortable but to each his own.

http://m.spotcrime.com/mobile/map/index.html#700%2...

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  • Martin Arteaga
    Contractor · Oak Lawn, IL · Member since 2016 · 2 posts · 0 votes
    10y
    The neighborhood is not bad. But it's not the best either. I'm a general contractor and I fixed a 21 unit building less than a mile away.
    0Reply
  • Nancy Curran
    Real Estate Investor · Chicago, IL · Member since 2014 · 286 posts · 159 votes
    10y

    Martin, seriously? What neighborhood would you consider bad if not this one. There are gun fights there regularly. It's not even an up and coming type area. The only way I would ever invest is if the rentals were 100% section 8. and even then I wouldn't.

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  • Account Closed
    Chicago, IL · Member since 2014 · 2 posts · 1 vote
    10y

    @Alex Kholodenko, if the seller is willing to carry a first of 150k you need to pause and ask yourself why.

    The link below reveals more shootings in the area near subject than would make me feel comfortable but to each his own.

    http://m.spotcrime.com/mobile/map/index.html#700%2...

    1Reply
  • Ronan M.Pro Member
    Rental Property Investor · Chicago, IL · Member since 2015 · 352 posts · 281 votes
    10y

    It is a high risk area that would need VERY good local management. Its also WAY over priced for the area.

    0Reply
  • Josh Kundrat
    Chicago, IL · Member since 2015 · 77 posts · 39 votes
    10y
    Englewood is worse but ya Auburn Gresham is up there
    0Reply
  • Alex Kholodenko
    OP
    Specialist · Belmont, CA · Member since 2015 · 18 posts · 4 votes
    10y

    Thank you all.

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