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Chicago Property Prices
EXAMPLE ONE:
Purchase Price: $65,000.00
Property type: 2 Bed 1 Bath
Location: Chicago City
Annual Revenue: $15,600.00
Annual Cost:
Property tax $2,500.00
HOA $3,000.00
Management Cost $1,092.00
Total Costs: -$6,592.00
Net Annual revenue: $9,008.00
Net yield: 13.85%
Note – Management costs are discretionary, exclude these and yield would be 15.53%
EXAMPLE TWO:
Purchase Price: $50,000.00
Property type: 1 Bed 1 Bath
Location: Chicago City
Annual Revenue: $12,000.00
Annual Cost:
Property tax $2,400.00
HOA $2,040.00
Management Cost $840.00
Total costs: -$5,280.00
Net Annual revenue: $6,600.00
Net yield: 10.56%
Note – Management costs are discretionary, exclude these and yield would be 15.12%
The images below are a sample of the properties we have located. Units range is size from 750 - 1100 sq ft, from one to two bed units.
We are concentrating on units where the amenities are limited, this due to the cost associated with maintaining amenities such as a swimming pool in the building. We are also focusing on older buildings, as the Home Owners Association (HOA) on these building will have built up good reserves in their fund.
