Chicago ave and damen is close to humboldt park. You will find major grocery and bank. Movie theatre at western and Fullerton. Head east on north ave or division for major entertainment and shopping... more
I have worked throughout Humboldt Park for many years, especially with multi-units, and some of the prices in this pocket of Humboldt Park are borderline absurd, meaning investor heaven.
I have prioritized my Chicago real estate with owner occupants of buildings but I realized that investors, good ones, were coming in and actually fixing up buildings and putting in nice rentals. The alternative is boarded up blights that bring down the neighborhood.
So...you are asking about an area where there are certain 2 units going for $50k and $60k dollars. With average work of $30k, you can have a functioning two units for $80k. Although you'll have to beat out cash buyers usually. Think about it, you can own a property and either live it in rent-free or make anywhere from $700 to $1500 monthly (depending on section 8 rentals and number of bedrooms) after taxes, insurance and mortgage payment!!
"Uprising" in terms of new development may not be realistic. But...
In terms of return on investment (ROI, cap rate) in a solid neighborhood, this is one of the hottest rental investment areas in Chicago right now, more specifically, Division to Armitage.... more
first do you an agent that you are working with as of now ?? if you are he-she should be setting that appointment to view the property , if that is the property that you like and would like to make an offer then the agent will write up contract based on your offer, if you are not currently working with an agent I can help you with this issue ? call me or email me only if you are not working with an agent !!!
hope this help good luck
exit realty advantage
In adition to the answers below, don't confuse "zoning certificate" with the actual "zoning" of the lot. Many people assume that the zoing cert refers to RS3 when in reality they're totally separate. A parcel's zoning tells you what can be built and the zoning cert tells you how many legal units a building has.