I Need HELP on a Chicago Northside development - Are there any DEVELOPERS here on BP???

[Wendell De Guzman]

I need your HELP BP Nation.

Are there any BIG developers here on BP?

I have a development opportunity and I need advice.

Is below a great deal?

32 condos 

exit price: $12.4 M

construction cost: $4.6M

land cost: $3M

I estimate selling and carrying costs to be 10% or $1.2M (is this realistic or low?).

If so, the total profit is $3.6M for a 47% ROI, correct?

This land is in a HOT area of Chicago Northside.

PM me or reply here.