Trying to Understand Chicago Market

[Leo Koonan]

Hi Guys,

So i've been looking into several areas of Chicago and there is something that i cant really understand.

I've encountered properties just like this one:

1048 W Garfield Blvd,

Chicago, IL 60609

many properties in the Englewood and Back in the Yards areas...

When i analyze them i see that there are "waves" in prices going up and down when the same building can be sold for 30k and then for 250 within each 5 years or so...

I also see pretty high rentals there ($1100/m +) ... so the market is pretty strong...

so how is it that there are so many multi family buildings like that around what looks like to be good C+ and B areas but they stay on the market for months at the time...

Is there something about Chicago laws ( other than the high taxes ) that i am missing and everyone knows about, so they dont "bite"?