All Forum Posts by: Mike Nelson

Interesting situation.  I wonder if, in the future the school district finds this situation unacceptable, and tighten their requirements/ and or enforcement.  I am in Oak Park, where some people move because of the perception of good schools.

Great response @Joel Owens.  I know next to nothing and have little interest, but I found your post fascinating.  I know in particular, some Subway restaurants have been very successful (because of location?) while others have been real failures. 

Back in 1985 when I was single I sold my coin collection for the $7000 down I needed for a small $52,000 2-unit in Chicago's Wicker Park, through a realtor.  I amassed the small coin collection in part by finding silver dimes and quarters still in circulation when I was a kid.  I even parted with a 1921 silver dollar worth about $10 my grandmother had given me.  It had some sentimental value, but I looked it as giving Grandma a little chance to be part of my success.  It was a pretty good deal, but not great at the time. It lead to me buying the house next door from the neighbor for $38,000 and a similar one 3 doors down for $67,000 on an assumable loan.  I needed to save every dollar from my job, buying only basic essentials to buy the first property.

Thank you @Kyle J. and Brad M.  Both of these systems are food for thought.  They might be part of the solution.

Here in Chicago I use Craigslist.  Years ago, I used Chicago Reader.

I am noticing, as usual a lower demand by prospective tenants for vacancies which open up during this slow time of year.  If I place an ad, I will get a fewer responses.  I can demand more rent in a busy season, because of supply and demand.  Of course, I try to end leases in the busy season.  During the slow season, do you decrease the rents?

When I was a kid, there was no Amazon.  Now, we have found we can click on the internet and a brown package comes to our door.  Saves time.  Saves gas. Probably saves money.  Often makes sense.  Amazon has a truly amazing computer and distribution system.

1. The problem is at the delivery end.  This hasn't been worked out.  The 200 unit multi-unit down the street has a huge problem because the mail room has boxes piling up every day, and it takes a lot of labor time to sort the mess out and somehow deliver the packages to the tenants.

At the single-family scale, they drop packages off on my front porch.  They can get stolen.  I sit at the office worrying that my new book from amazon will get stolen.  Sometimes I have to spend an hour driving to UPS and back to sign for a package.

We need solutions at different levels.  The problem exists, but I smell opportunity big-time.  At one level we should have large-enough, secure boxes, ideally built-in next to our front door.  Getting fancy, they can have electronic devices which can confirm receipt of package, perhaps linked to my phone.

At another level, the 200-unit needs some kind of a solution.  I don't know.  Maybe build in 50 or so giant mailboxes which can be assigned daily to whoever gets a package, with some kind of electronic key.  Or you can start a business which provides staff as needed daily to address this problem as an outside consultant.

Anybody have any ideas - or build a new $Billion business?

Welcome @George Sabino.  I have enjoyed investing in Chicago since 1987.

@Philip Novak, I enjoyed your post, interesting perspective.

Interesting about the high $500 fine for failing to register the building.  In Chicago, there is a $10 annual fee for registration.  I just paid 12x $10 or $120 for failing to register the building the past 12 years - my ignorance - but at least there was no penalty assessed.  Annual registration  at $10 is something I have to plan for.

Welcome,

Green Bay is my favorite town.  My family has been there since 1852.  Drove by Grandpa and Grandma's house on Cass Street and see that things are looking up!