Logan Square Multifamily Properties | Client Success Stories
As a Real Estate Investment Advisor in the Multi-Family market in Chicago, I specialize in helping clients find and purchase income producing properties that increase in value.
My priority in working with clients is to help them achieve their goals through developing a solid investment strategy.
2 and 3 flats in Logan Square have been in high demand for the last several years.
In the examples below, I helped in the sale and purchase of two income producing properties that generated high returns after the buildings were resold.
1927 N Spaulding, Chicago
Sold: December 20, 2015
Location: 1 1/2 block from 606 Trail - Excellent location!
Sales Price: $462,500
Potential rental income: $60,000 GRI
ARV : $715,000
CAP RATE: 7%
The Seller made improvements to the building, and capitalized on the fact that the Logan Square market was Red Hot and was able to sell for a huge profit 2 years later.
Sold: November 30, 2017
Sales Price: $865,000
2645 W Potomac
Sold: August 06, 2014
Sales Price: $585,000
Location: East Humboldt Park
Potential rental income: $108,000 GRI
ARV $900,000
The seller made improvements to the apartments and sold for a huge profit.
Sold: July 2018
Sales Price: $1,102,000
Why buy in Logan Square?
The neighborhood is one of the top performing markets in Chicago. On average the properties appreciate 8% annually and the rental market is in high demand averaging $1.7k-$2.9k for 2-3 bedroom apartments. The neighborhood has plenty of activity with new developments, retailers, restaurants and bars which contribute to it's popularity.
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Additional resources:
Logan Square Neighborhood Association
Carlos Rosa - Alderman 35th Ward
http://www.aldermancarlosrosa.org/
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If you are considering buying or selling a multifamily property give me a call at 312-788-7079.
By: Jose Hernandez
Real estate broker with Coldwell Banker - Chicago
Jose Hernandez specializes in multifamily real estate including 2 flats, 3-flats and 4 flats in Chicago's northside and northwest side.