Bought a 5 unit storefront in Rogers Park

[Atul Mohlajee]

Just bought a 5 unit storefronts in Rogers Park, IL.  Property is cash flowing some although it was zero down payment with 100% financed as a commercial bank loan.It is good to be part of Bigger pockets for advice, just look for others view points and help you grow as an investor. I am optimistic about the growth of this neighborhood also although it is a cash flowing property and I am not counting on appreciation alone.

[Atul Mohlajee]

Cap rate is 9%.  Rental income is $7100.  Price is $531000.  Commercial loan is 4.75% fixed for 5 years, and adjustable for next 5 years.  This area is certainly more secure than 5-6 years ago and is still poised for growth I think.