Chicago Condo Conversion Pre-construction Flip

[Paul V.]

Investment Info:

Condo fix & flip investment.

Purchase price: $118,500
Cash invested: $6,000
Sale price: $132,500

2 bedroom condo in Rogers Park neighborhood of Chicago. 81 walk score that is .4 miles from the Rogers Park Metra stop. I signed a contract pre-construction for a condo conversion while it was being developed. I closed on it 1 yr later and flipped it 1 month after I closed on it.

[Jonathan Klemm]

@Paul V. I think the biggest thing that drove appreciation here in Chicago was low inventory (which is still the case) and high demand due to low-interest rates.

Now, with the rise of interest rates things seem to be leveling off more.