In the city is easier to find renters and buildings have higher chance to appreciate its value
Currently are available on 74th Ct (North west suburb) Elmwood Park bank owned for $159k, River grove $169k Brick, 3 units in Chicago for $199k asking price with $2050 monthly income
3 units 249k asking price in River Grove with $2250 monthly income etc......
Lower priced properties like brick 2 flat in good shape I was showing to my client last week for $250k disappear very quickly. You may buy single family house in suburbs and rent it out but some of the areas
even in last few years of price boom had little appreciation. Plus cost per unit is higher.
For around 150k plus you can buy some 2 flats in Cicero, Berwyn area.
Some of them in quite good shape.
There is plenty of options. Just be prepared and work really close with your Realtor because good properties are rare and coming and going of market with speed of light. Do not fool yourself with slow market. it might be overall but competition to get fast good deals is fierce
You should check out the Hanover Companies. We are in Chicago and offer a wide range of options; from town houses to condos. We can offer our own finance options at lower rates than the market and will even rent the property from you for up 30 months if your looking to rent it out for a "Cash Flow." Either way, let me know if you have any questions and Ill try to point you in the right direction.
Contact me at 312-731-5256. I will advise you on the properties we have and I would be happy help with any advise.
Balsley Losco Real Estate
I have been in the mortgage business for 21 years and would like to assist you with this purchase.
First Capital Mortgage
We are home based on Chicago and specialize in retirement, second home, vacation and investment property primarily in the Southeast. We also do quite a bit work in Chicagoland. This is an excellent time to pick up property in Chicago.
Give me a call and lets see what we can do to help you.
The Schaffer Realty Group
My company has a large network of Brokers across the nation. If you would like, I would be happy to refer you to a top Buyers agent for where you are looking. They would have access to the available town homes & condos on the market, and they can do most of the legwork for you to help take the stress off of you and make the buying process go more smoothly.
Please let me know if I can be of service.