2 "cottages" on a 1/2 acre lot in Spring Grove, IL
Hello investors!
I am finalizing some details on a wholesale property in Spring Grove, IL, very close to the lakes. If you are investing in the Chicago NW Burbs, please let me know if you are looking for rentals or flips, as this could be categorized as both. Here are the prelim deets:
1/1, 2/1 next to each other on a 1/2 acre lot. (which is why I checked "duplex") Great for fam with mom-in-law or b&b.
ARV - $130-$185-? (depending on what you might do with property, based on recent sales of 3/2's. unique 2-building property, so no pure apples-apples comps)
REP - <$5K for rental/maybe teardown and rebuild for full flip to an ARV of $400k+?? (based on recent high-end sale in area).
ASK - $89,000
potential gross rental income $1450/mo as-is.
Do the math. Worth checking out, so let me know if you may have interest for first crack. I will update this thread once I have contract in-hand.
Mike Nickles
630.220.4084