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Current net yields for the investor range from 11-14% +, after all associated holding costs. These are the costs associated with holding a property in Chicago;
*Property tax is based on the value of the property and paid one year in arrears. Property tax has not been reassessed to the current sale values. Property tax is assessed within Cook County Chicago every 3 years and can be appealed by the new owner after closing.
* The HOA comprises all costs associated with running a building - trash collection, maintenance of common areas and general upkeep.
* Property Management is a monthly fee charged by the property agent (OWL management) who will source a tenant and manage the asset for international investors. The property agent will also transfer funds to the owner’s nominated domestic or international account at a frequency to be determined by the investor.
Condominiums have emerged as a major force affecting the housing market. Condos require far less maintenance; homeowners simply pay a fee to cover the cost of maintaining common areas.
Most of our inventory is located in or near the City centre of Chicago, attracting renters across several demographics - students, blue and white collar workers, single professionals and empty nesters.
Source: VP Appraisal Counselors)
