Chicago South shore Multifamily?

[Mallikarjun Reddy Pateel]

Hello fellow Investors/Brokers, 

we are looking at a Multifamily 10+ unit property in south shore Neighborhood between jeffery and 70th east. its fully stabilized and Cash flows pretty well. I'm intrigued by the fact that Obama Presidential Centre will be taking Place in Jackson Park and this property looks like 2-3 blocks away. I also heard my Broker saying Capital chasing Multifamily in south shore. 

Posting here to get Locals opinion on what you guys seeing and your future Projections for this neighborhood? TIA!

[Crystal Smith]

Originally posted by @Mallikarjun Reddy Pateel:

Hello fellow Investors/Brokers, 

we are looking at a Multifamily 10+ unit property in south shore Neighborhood between jeffery and 70th east. its fully stabilized and Cash flows pretty well. I'm intrigued by the fact that Obama Presidential Centre will be taking Place in Jackson Park and this property looks like 2-3 blocks away. I also heard my Broker saying Capital chasing Multifamily in south shore. 

Posting here to get Locals opinion on what you guys seeing and your future Projections for this neighborhood? TIA!

Here's my opinion regarding the South Shore- Purchasing a stabilized and cash flowing building is a good bet; but I don't believe you will see very much appreciation due to the Obama Presidential Centre. (Purchasing a stabilized cash flowing building anywhere is a good bet) Bottom line- People need someplace to live with or without the Obama Centre being there. The Centre will draw tourist; the new golf course will draw golfers, but the demographics will not change.  Purchasing the property for the cash flow is the bet- I would not expect great appreciation on the property.