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Updated almost 10 years ago,
Deal in the Chicago area. Do the numbers work?
Hi everyone,
I just put under contract a 2- flat building in the Chicago area. This is a class C neighborhood. Can you please give me some advice and criticize my analysis below? The first unit is renting for 700 (long term tenant). The second unit will be rehabbed. Each unit is about 850 SQ .
Are my numbers right? Am I missing something? There were very few comparables that I was able to find. And some of them were cash deals so I decided to value the deal using the cap rate formula. Please let me know what are your thoughts on this: