chgojoey, Other/Just Looking in Chicago, IL

I would like to know the market conditions of the Avondale area 60618.

Asked by chgojoey, Chicago, IL Thu Feb 28, 2013

What is the sold price of 2 flat brick buildings in the area around Milwaukee Ave,Diversey Ave and Belmont Aves?

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0 votes Thank Flag Link Sun Mar 10, 2013
Hi there! You can have a realtor provide a CMA in your desired area to give estimates of market values..great area by the way!
0 votes Thank Flag Link Fri Mar 1, 2013
Make sure you have your realtor give you closed sales. 10 out of 10 realtors cite listings as market data. Listings only provide a ceiling from which a home cannot exceed, it is of near zero value when it comes to determining market value. Ok, it's of .0000000000000001% value.
0 votes Thank Flag Link Thu Feb 28, 2013
I would just have your agent draw you up a CMA. This way you can get them to show you all the comps in the area.
0 votes Thank Flag Link Thu Feb 28, 2013
I would like to recommend that you utilize my free website at You will be able to search for properties throughout Chicago and the surrounding areas. My website features up to date information, so you will not be finding homes and properties that are no longer available like on some of the realty websites that you may be using. My website also offers an array of neighborhood and market information that can help you make your determination on homes and locations. My featured partners are industry leaders that can assist you in making any realty transaction easy and transparent. I welcome you to utilize this amazing tool. As always I will be available to answer any questions that you may have.
0 votes Thank Flag Link Thu Feb 28, 2013
Be sure to have the cash ready or your preapproval in place. Over the last year 20 brick 2 flats have sold between Diversey & Belmont and Cicero & the Highway ranging in price from $125k to $292k. Most of these were short sales or foreclosures. At present 3 buildings are available in this area.

Feel free to contact me should you need any assistance.
Web Reference:
0 votes Thank Flag Link Thu Feb 28, 2013
It depends upon whether or not you are buying it as an investment property or for conversion to a single family. If you are going to convert it then you can talk comps. If you are looking at it as an investment property then you should forget comps and look at the potential investment income and expected capital improvements in light of your investment objectives, which I would argue should focus exclusively on ROI.

The investment property market in this price range is super hot right now with properties getting a dozen offers in just 4 days and selling above asking price. You really need to know how to evaluate the investment potential.

If you would like to discuss further I can be reached at 312-738-0232.
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0 votes Thank Flag Link Thu Feb 28, 2013
They have been very popular mostly with multiple offers even regardless of the condition sometimes, particularly the ones asking under 200K and even when they are priced a little above 200K.
0 votes Thank Flag Link Thu Feb 28, 2013
I work in the area and depending on the condition of the property it could range from 170k- 220k. There's also a lot of activity in the area, expect multiple offer situation.

Jose Hernandez
Coldwell Banker
0 votes Thank Flag Link Thu Feb 28, 2013
Avondale is hot now. Brick two flats are on and off the market sometimes after only a few days. If you are interested in investing here, call or email me to schedule a meeting.

Best regards,

Ivan Sagel
0 votes Thank Flag Link Thu Feb 28, 2013
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