Home Buying in Chicago>Question Details

Catalina Cad…, Real Estate Pro in Chicago, IL

What should I take into account when pricing a mixed use property? Ive pulled comps but feel that Im missing something. Its a 2 unit w storefront

Asked by Catalina Cadiz, Chicago, IL Fri Apr 5, 2013

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8
Catalina,

There are two valuation approaches, income based and sales comp based. Talk to Ryan d'Aprile, he can help point you in the right direction.

Best regards,

Ivan Sagel
312.515.7823
Ivan@atproperties.com
1 vote Thank Flag Link Fri Apr 5, 2013
Catalina, if you are a broker, go and see Ryan for guidance.

Have him go over all the different things to look for in this type of property.
1 vote Thank Flag Link Fri Apr 5, 2013
ask Bill from your company for this advise
0 votes Thank Flag Link Wed Apr 10, 2013
Dear Caralina,

If your managing or sponsoring broker (or neither) are available to help you with this, then you might want to consider signing up for a class at the Realtor School at the Chicago Association of Realtors specifically on valuation or CMA preparation.

Good luck to you.

--
Sincerely,

Christopher Thomas
Broker Associate, Keller Williams Realty Chicago Consulting Group
716 E. 47th St. Chicago, IL 60653
(773) 770-5947 (cell) (312) 577-0985 (fax)
cthomas@kw.com
http://www.myagentchris.kwrealty.com
0 votes Thank Flag Link Fri Apr 5, 2013
Catalina,

You are getting some sound advice from helpful brokers. :)
0 votes Thank Flag Link Fri Apr 5, 2013
It is very hard to pull comps on these. They tend to be few and far between. They are also hard to finance. You also need to keep it for at least 5-10 yrs because they usually are hard to resell. THe storefront is often hard to rent.
0 votes Thank Flag Link Fri Apr 5, 2013
Take the income approach on it. That will give you a better idea.
0 votes Thank Flag Link Fri Apr 5, 2013
Put this since I am assuming that you are a Realtor into the Blog Section of Trulia, and not here.
Sincerely yours,
Edith YourRealtor4Life & Chicago and Northern Illinois Expert

Working always in the very BEST interest of her clients, Buyers, Sellers and Investors alike....
And always with a SMILE 
Covering for @Properties the city of Chicago, all N and NW suburbs, the fine homes on the
North Shore, and many of the W and SW suburbs, and with her trusted Partner Agents all of
the US and worldwide properties. Edith speaks French, German, some Spanish and other.....
@Properties ---- EdithSellsHomes@gmail.com
Check out my website at htttp://tinyurl.com/YourRealtor4Life
HAVE THE MOST WONDERFUL DAY :)
0 votes Thank Flag Link Fri Apr 5, 2013
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