Does anyone invest in Blue Island, IL

Question

Hey everyone,

I’ve been analyzing properties in the Chicago area and see several that seem like they would cash flow decently in the Blue Island neighborhood.

Does anyone invest in Blue Island? If so, I’d love to connect and chat more.Thanks

John Warren · Answer

@Daniel Curtin the area is a solid C class area. Don't expect massive appreciation, but the area isn't going anywhere. Rents are not super high, but they will only go up.... its work force housing which I love.

Tom Shallcross · Answer

@Daniel Cullen - we just recorded a Straight Up Chicago Investor Podcast with an investor who did his first househack in Blue Island. He does a good job laying out the pros/cons and issues he's had with the city. It will air October 10th.

Jonathan Klemm · Answer

Hey @Daniel Curtin - Blue Island is a great little Chicago suburb to invest in.

I personally have not done any deals there, but I know that rentals are strong in that area around Oak Lawn, Alsip, etc.

Do you have an investor friendly realtor you are working with?   Maybe connect with @Eudith Vacio

Tom Shallcross · Answer

No, it's episode 329.

Daniel Curtin · Answer

Hey @Tom Shallcross, is this the episode?

(See attached)

Daniel Curtin · Answer

Thanks for everyone’s input! Based on my analysis, a good amount of the multi-family properties for sale within Blue Island would seem to cash-flow, but the sticker price on some of these properties seems too good to be true. The majority have had substantial recent price decreases, which seems concerning for long-term property value appreciation. I know the overall market seems to be cooling some, but where do you see Blue Island property value going in the next 5-10 years?

John Warren · Answer

@Daniel Curtin Blue Island will be fine as long as you have a strong plan for management. If you can self manage effectively, you will find good cash flow there. The building stock is like all the other Chicago urban core burbs, so expect lots of 1950's and 60's construction with galvanized pipes, flat roofs, boilers and outdated electrical. These are all issues you will consistently need to be able to solve anywhere in the Chicago market though.

Eudith Vacio · Answer

Hey @Daniel Curtin - Blue Island is a great area to invest in as cash flow is a little stronger and taxes are not horrifically high and they have a great deal of 4+ units, as well.

Timothy Harstead · Answer

I just got off a call yesterday with a investor group with a bunch of blue island buildings,  from there experience tenants have been pretty good but the buildings are older and a lot of unexpected problems have arisen so I would say make sure to have a good inspector and some reserves incase work is needed and its a good area to cash flow.

Does anyone invest in Blue Island, IL

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