Home Buying in Chicago>Question Details

Sabrina, Home Buyer in Cincinnati, OH

We are looking to buy an investment/rental property in the 200-300K range. We would prefer a townhouse, but a

Asked by Sabrina, Cincinnati, OH Mon Aug 4, 2008

condo with reasonable association fees would be acceptable. Since we are from out of town, we don't know the neighborhoods well. Any suggestions?

Help the community by answering this question:


in the 200-300k range you can buy 2 family home in North West area of Chicago.
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
1 vote Thank Flag Link Wed Aug 6, 2008
First, I want to ask where you currently stay. Its always best to purchase closer to home. My company has a hundreds of developments across the US that qualify for our Master Lease program that have the benefits I listed below; 30 month rental lease, paid HOA, paid association fees, paid utilities, paid Insireance, full management, paid maintenance, and our hedge fund can cover 90/10 loans for qualified purchasers.. This would give you the ability to assure your purchase for 2 1/2 years and allow you to benefit and satbelize the market. Id like to say a lot more, but its always better to know the situation of the buyer before giving in accurate information. Please give me a call at 773-305-1265.

Justin Brown
0 votes Thank Flag Link Wed Aug 20, 2008
contact me to help you. I have some investment properties for sale right now with lots of equity.
Web Reference: http://www.joeokesola.com
0 votes Thank Flag Link Tue Aug 19, 2008

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.
0 votes Thank Flag Link Mon Aug 18, 2008
Schaumburg is a large Village about 20 miles NW of the city of Chicago. It home to many corporations and has a huge employee base, making for easy renting. The Village does not levy a tax bill. Schools , Woodfield Mall, parks, train line, an airport, great housing, low association fees, many restaurants/night life-Schaumburg is well known and liked. It would be a great place to consider among your many options. I suggest you buy 2 smaller townhomes at about $155,000 each, as the total rent will be greater. I can email you some choices if you want.
Web Reference: http://www.realtybob.com
0 votes Thank Flag Link Tue Aug 5, 2008
Just met with somebody today motivated to sell 3 different investment condos in western burbs - Glendale Heights area. 2 already have section 8 tennants so you have solid monthly payments. 1 is currently vacant and they are leaving it open whether the buyer wants another sec 8 or would prefer to go another way. Let me know if you want details. She is VERY MOTIVATED...
Web Reference: http://www.GregZaccagni.com
0 votes Thank Flag Link Mon Aug 4, 2008
I am a Relocation Real Estate Agent in South Jersey near Atlantic City. IF you or anyone you know that is looking to buy in my area I can help. This is a great time to buy in this area. Let me know and I will e-mail all available listings in this area.
Thank you,
Donna Saggese
Balsley Losco Real Estate
Donna S
Web Reference: http://donnasaggese.com
0 votes Thank Flag Link Mon Aug 4, 2008
Sabrina- If you would like to get Pre approved for this new financing, please call or email.

I have been in the mortgage business for 21 years and would like to assist you with this purchase.


Tino Martinez
First Capital Mortgage
0 votes Thank Flag Link Mon Aug 4, 2008
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.
Marian Schaffer
The Schaffer Realty Group
0 votes Thank Flag Link Mon Aug 4, 2008
Hi Sabrina-

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.

Angel Head
0 votes Thank Flag Link Mon Aug 4, 2008
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