Chicago: Comps and Micro Markets

[Tracey Steele]

Hi BP Community - What are your thoughts on comps and micro markets? I'm looking at a property that does not have any real comps that have sold in the last six months. If I use an entire neighborhood, then I get one picture, but the property of interest falls in a micro market within the larger neighborhood that is "developing". 

What are your thoughts properties that have a lack of available comps?

Thanks!