Home Buying in Chicago>Question Details

Edmond, Home Buyer in Outside U.S.

Can a foreign investor to be owner(physical person) of an appartment in Chicago?

Asked by Edmond, Outside U.S. Sun Dec 23, 2012

Hello, I'm a foreign investor.

Can a foreign investor to be owner(physical person) of an appartment in Chicago?

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Answers

11
Philip Sencer’s answer
Yes, especially if you pay cash for it. To get a loan is a bit more complicated, but there are lenders that make those loans. The bigger issue is how do you manage the property. If you are looking for a condo it is pretty easy , but if you are talking about a multi unit building you need to hire a property manager and that can be expensive.
2 votes Thank Flag Link Mon Dec 24, 2012
With CASH you can do whatever you want. With Financing it will be much more difficult. How do you plan on managing the property? Work with a Realtor to make this process smooth and efficient for you.
1 vote Thank Flag Link Mon Dec 24, 2012
Sure all you have to do is buy one and you can.
1 vote Thank Flag Link Sun Dec 23, 2012
Yes you sure can. You would want to strategize with an investment counselor or attorney to make sure your purchase brings you the best return possible. Feel free to email Le Ann Tyson at leanntyson@msn.com with additional questions. Le Ann Tyson
1 vote Thank Flag Link Sun Dec 23, 2012
Yes send me an email and I will send you properties you may have interest in
1 vote Thank Flag Link Sun Dec 23, 2012
Hi Edmund,

The short answer is "yes". I've worked with a few international investors and we did not have any issues. You can own property under your name or LLC depending on your strategy.

Feel free to contact me at anytime.

Jose Hernandez
Coldwell Banker
312-788-7079
1 vote Thank Flag Link Sun Dec 23, 2012
Yes, as long as you have the funs to purchase it.



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1 vote Thank Flag Link Sun Dec 23, 2012
Yes you can. Would you be taking a loan or using cash ?
1 vote Thank Flag Link Sun Dec 23, 2012
Hi Edmund, I just ran across your question and the answer is yes, you can be an owner of an apartment in Chicago.

Please visit an article I put on my website titled: Investing in USA advice and Global Real Estate News.
http://falconinternationalrealestate.com/

The cost of property management will vary depending upon the building that your condo will be in.
0 votes Thank Flag Link Tue Feb 5, 2013
Edmund, the price range varies. Shoot me an email. Mdavey@rubloff.com and I'll give you contact information for all of my contacts.
0 votes Thank Flag Link Mon Dec 24, 2012
Yes I have cash.

Usually how much cost a property manager per year?

Thank you for all your answers.
0 votes Thank Flag Link Mon Dec 24, 2012
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