All Forum Posts by: Ibn Abney

@Jon Olson @Jon Holdman is correct. Your sale price is based on comps. Also, airbnb profits are not 100%. Any new law or local ordinance can rain on that parade.

But why would you want to sale with that type of cash flow? Why not airbnb both units?

Good Luck!

Roger Roth As a Brooklyn Native i understand fully... I am partial to Chicago!! Reminds me of Brooklyn before the Barclays development. However, any city where Amazon is considering for the new HQ is a good choice, after Chicago :-) Good Luck!

@Brad Taylor Lol Good question!! From my knowledge its just Chicago lingo!! 

BTW, 4-Plex sound like wrestling move,, :--)

@Brie Schmidt @Prashanth Mahakali @Ann Folan Great info here thanks for sharing!!

I am currently researching if I want to build on a lot (30 x 125) or sell the lot as-is. Reading the city of Chicago building code it like reading a foreign language, looking for some help!! Can you confirm a RS-3 lot can build a duplex 2 family or larger? from what I found (im no expert) I can only build a single family between 1000sqft-1800sqft.  Also, what price would a developer look for when buying a lot? 10%-30% of redevelopment ARV? Any advice is appreciated.
thanks,

@Joanne Basecki did your lot sale? if so, any advice to help more a lot?

@Dolores Gonzalez

Few things:

1) Population decline in the state is higher than the city's decline

2) Population decline in the city of Chicago is concentrated in higher crime areas and low income communities. Lower income folks are leaving as taxes are rising.

3) Why is there so much new commercial development happening in the loop, north-side, south loop, and surrounding burbs? These commercial builders do tons of market research and since the city crane count is a  record high right now, that tells me that serious investors/large firms see a lot of potential in Chicago.

4)Lastly,  employers are moving to the city to find younger talent: McDonald's, Walgreen's, Kraft-Heinz, Tyson-Hillshire, and ConAgra to name a few.  And just last week Elon Musk announced his new development as well:

http://www.chicagotribune.com/business/columnists/...

http://www.chicagobusiness.com/article/20180613/BL...

With that said, is Chicago the best city in the world with no issues? Not at all. But what is Indiana doing better than Chicago in terms on commerce? Price point wise compared to other major cities, Chicago is a great place to be!!

my 2 cents :-)

forgot to mentioned currently zoned as RS-3. 

@flip land

@Buy and sell land

@land flipping

Can anyone share tips for selling a vacant lot?

Just bought a vacant lot, really only bought it because it was virtually free (besides annual taxes). Exploring the fastest way to move it? I have no construction experience.

Lot is 3800sq ft. Any advice welcomed!!!

@Jason Macht 

1) Want is your end goal? 

2) Not sure what approach you have now for deal sourcing and analysis, so hard to comment. If all the bidding wars are on MLS listings than I suggest looking off market and/or try direct mailings. Bidding wars are everywhere though.

3) IMO, with the Elon development and the Post office redevelopment in the loop, why not stay in Chicago? I believe Chicago has more to offer than MKE or GR.

http://www.chicagotribune.com/business/columnists/...

http://www.chicagobusiness.com/article/20180613/BL...

@Jeff Burdick First McDonald. now Walgreens.. Good Sign for Amazon??? (fingers crossed).. Chicago is on its way!

http://www.chicagotribune.com/business/columnists/...