All Forum Posts by: Ronan M.

Did a quick search. Found about 5 South Shore properties currently for sale with Caps 10 to 15% for buildings less than 10 units.   Move in the 16 to 25 unit buildings Caps are around 7 to 9%

Now do keep in mind the Caps provided by the listing agents are often on pro forma...which half of the time is usually BS 

To refer to the map you posted.

67th to 71st (Jackson Park Highlands) is decent.

71st to 75th - South Shore "proper" Noticeable difference. Neighborhood starts to deteriorate.

75th to 79th - Neighborhood further deteriorates.

Night and Day difference between the quality and rents of a 2 Bed apartment near 67th versus a similar apt closer to 79th. Couple of hundred bucks a month difference in some cases. 

For best appreciation (in South Shore) get as close to the train and the lake as you can I think.  As the area improves I believe proximity to the lake for recreational purposes and proximity to the train to downtown will be a key factor for people moving into the area. 

@Calvin Lipscomb I own a number of properties on the south side of Chicago including one in South Shore  (12 unit by the lake) I am also a Real Estate Agent with Second City Real Estate and work with a number of investors who target that area.  Feel free to reach out to me if I can be of any assistance to you.  

@Michael Boyle PM me if you need a second set of eyes on any quote you might get. I have a good guy who inures my Southside properties. 

Congrats @John Casmon and @Brie Schmidt for pulling this off.

Great Event. Great Speakers. Great Networking. Great Food.

Well done. 

Thanks for the mention @John Warren

@Jay Garrison if this property is on the Southside let me know if I can help. I own property on the Southside and I am a licensed RE agent with Second City Real Estate.   If you are aware going in to the deal that the property requires work do also check for any City violations that are common with property in that price range. 

City violations (and permits if required) might add a significant amount of time and money to your rehab project.  

Best of Luck. 

Thanks @Brie Schmidt

Patrick and I have connected. 

No subwoofers allowed. 

@Art Maydan and if you are reading Domu PLEASE don't use a Domu lease. When I was a newbie many years ago I got laughed out of eviction court with my Domu lease.  Judge had to call a 5 minute recess to settle himself down after all the laughing. 

The CAR Chicago lease is here on BP in the file place. 

I have many buildings more than 4 units and less than 25 units. I pay interest on all the SD's.

As you yourself mentioned its 0.01%...pennies. Just pay it and be done with it and you have nothing to worry about.