Investing in Chicago - 2-4 Units - Austin Area

[Jonathan Forouzan]

Good afternoon,

hope all is well.

I am in escrow to buy a 2 unit flat in Chicago Il. Price is about $150,000, both 3 bed rooms and the building is ~2,900 SQF. There will be renovations taking place after the close of escrow. The property is located in 60644. Is this a good up and coming location? Does anyone own anything in this area? Please let me know what you think.

thank you,

Jonathan Forouzan

[Tom Shallcross]

Jonathan, plenty of people make money as landlords in Austin but it is rough.

Chicago has some very tough areas yet Austin has more murders than all of them -  Chicago Homicide 2019

To be fair it's also one of the largest geographical areas and the north side of it is different than the southside of Austin.   However, the point is this is not your up and coming neighborhood no matter what your realtor told you.

People make money with rentals in Austin, but it sounds like you've never been there nor fully understand what you are getting into.  

I'm not trying to discourage you, just throwing some reality to the situation for you to consider.

Feel free to DM to discuss further.