South Shore Cap Rates

[Calvin Lipscomb]

What is the general cap rate for the South Shore area?  My group is looking to invest heavily in the area.

[Ronan M.]

To refer to the map you posted.

67th to 71st (Jackson Park Highlands) is decent.

71st to 75th - South Shore "proper" Noticeable difference. Neighborhood starts to deteriorate.

75th to 79th - Neighborhood further deteriorates.

Night and Day difference between the quality and rents of a 2 Bed apartment near 67th versus a similar apt closer to 79th. Couple of hundred bucks a month difference in some cases. 

For best appreciation (in South Shore) get as close to the train and the lake as you can I think.  As the area improves I believe proximity to the lake for recreational purposes and proximity to the train to downtown will be a key factor for people moving into the area.