hi guys, im from australia and looking to invest in chicago. what kind of rent retun would a property like 7759 S Kingston Ave #1S Chicago, IL return?

Asked by Daniel Wild, Outside U.S. Tue Aug 13, 2013

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13
Regalliving8…, Home Buyer, New York, NY
Tue Aug 13, 2013
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0 votes
Athanasios A…, Agent, Chicago, IL
Tue Aug 13, 2013
Daniel,

We specialize as a broker and investor with distress assets and Section 8. Do you know what Section 8 is? If you need more info send me an email at aa@justrealtychicago.com or call me at 312.493.3813. We place 120 section 8 tenants a month so we follow the heartbeat of the market. I can tell you exactly how the whole system works. Please make sure where you invest because not ld be gla all areas are profitable. Let me know.

As far for 7759 S Kingston Ave #1S Chicago, IL if I was you I WOULD NOT TOUCH IT!!!

Take Care!

Athan Arvanitis

Just Realty Inc.
801 W. Adams Street, Suite 211
Chicago IL 60607
312.493.3813

Arvaco Group
801 W. Adams Street, Suite 211
Chicago IL 60607
312.627.0100
0 votes
Matt Laricy, Agent, Chicago, IL
Tue Aug 13, 2013
You should talk with a Realtor that can help you with discussing the numbers. Its free to use their services.
0 votes
Broker Martin, Agent, Chicago, IL
Tue Aug 13, 2013
Hello,

I know this owner. Give me a call 773-301-1091. I agree with the comments of the agents below. Yet investors are buying in this area and giving the headache part to property managers like myself who do cover this market.


Thanks,

Yolandra
773-301-1091
0 votes
Jacqueline S…, Agent, Chicago, IL
Tue Aug 13, 2013
The fact that the units are so cheap should tell you something. A unit 2 floors higher in the same tier closed for $10,000. Almost all the other units have failed to sell. The finds on the uncut grass and water bill estimates could exceed your investment. In my opinion it is a headache in the making.
0 votes
Manuel Brown, Agent, Chicago, IL
Tue Aug 13, 2013
Dear Danial,

Right now I am working with a couple of investors in the Rogers Park area. Before you invest you hard earned money to which, yes, you can get a great return on you money. You should come to the states and work with a Realtor you mesh with and will understand your investment strategy. He or she should also have a strong understanding of the rental market, ability to screen tenants, a working knowledge of the cities laws that govern tenant rights, etc.

Manuel Brown, Associate Broker
iMove Chicago
0 votes
Jacqueline S…, Agent, Chicago, IL
Tue Aug 13, 2013
Get one great unit in one great building in a wonderful area of Chicago. You need a building that is well run since you are a world away, literally. A larger building will leave with lower raises on assessments, since there are more people to spread common area cost over.

Smaller buildings tend to have people who do not want to fix the roof or garage since they are taking a big hit on the shared costs.
0 votes
Erik Sachs, Agent, Chicago, IL
Tue Aug 13, 2013
Daniel-

Their are better opportunities out there. The assessments are $300/mo and that will kill your returns. Condo investments can also be risky because the association may make decisions that could adversely affect your ability to rent your unit.

My company represents out of state/country investors like yourself; we can help source, rent and manage units. Depending upon neighborhood, type of building, etc. cap rates run from +/- 6% to 15%. Each opportunity has its own fingerprint. I can help determine which type of investment is right for you, please call or email me if you would like to discuss.

Best of luck,

Erik Sachs
RpV Realty
Cell 773/368-5515
Email esachs@rpvinc.com
0 votes
Don Pasek, , Chicago, IL
Tue Aug 13, 2013
Hi, Daniel:

Glad to hear you're going to invest in the best-kept real estate secret for investors in the USA! Chicago has many areas and types of property that provide attractive returns on investment.

My colleague is correct that at a distance it's tough to gauge whether the property you mention would be the proper investment for you. I would highly suggest visiting our city to get a feel for the different markets and discussing your requirements with a broker before purchasing property.

The Chicago Association of REALTORS Global Real Estate and Emerging Markets Forum is a group of local real estate brokers who also practice internationally. These brokers understand foreign investors and do a significant amount of business overseas. They know how to explain the details of investment in U.S. real estate and guide you through a successful transaction.

The Forum hosts a number of trade missions from various parts of the world each year. This year, we've already had visitors from Japan, Thailand, and Canada, among other places. We will receive a large group from Europe at the end of this month. Over the years, we've helped investors from all parts of the globe to understand and invest in Chicago real property.

I'm not only telling you this because I'm a member of this group, but also because I think you'll be best served by one of its members. Take a look at http://www.chicagorealtor.com/displaycommon.cfm?an=1&sub… to view a list of members.

Those who have the CIPS acronym after their name have attained the Certified International Property Specialist designation from the National Association of REALTORS. These brokers have completed a rigorous course of study in international real estate practices and are well prepared to assist you in your property search.

Daniel, Chicago is a large, diverse city with many sub-markets. Each of those markets has advantages and disadvantages for the real estate investor. Visit our city and select a broker who knows the area that interests you most.

The Global Real Estate and Emerging Markets Forum stands ready to assist you. Please contact me should you like more information.

Regards,

Don Pasek, CIPS, TRC, ADPR
Omniterra Real Properties
Chicago
+1 (773) 763-7000 - office
+1 (773) 383-3470 - mobile
0 votes
JIM Michaels, Agent, Chicago, IL
Tue Aug 13, 2013
email me at jmichaels@remax.net and I will send you what I have on that property
0 votes
Santiago Ken…, Agent, Chicago, IL
Tue Aug 13, 2013
Good waves in paradise surfing ... I cant wait to be back there .
Feel free to email me at barcelonarealtor@gmail.com for more info regarding investment in Chicago

Regards
0 votes
David Hanna, Agent, Chicago, IL
Tue Aug 13, 2013
You need to have a one on one conversation to get the right answer for you.
I am happy to spend a few minutes on the phone, skype or via email, but there is no way for you to get all the information you need here in this forum and be sure you have made a good investment.

Dave Hanna
773-732-9123 davehanna@realtyexecutives.com
0 votes
Bill J Delig…, Agent, Naperville, IL
Tue Aug 13, 2013
Daniel,

Be very careful of being a long distance investor without being familiar with the area. For a 2Br/1Ba in that area you can probably get about $700/mo minimum.
0 votes
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