Chicago buy and hold or sell?

[Eudith Vacio]

Fellow BP investors in the Chicago area: I want to pick your mind.

I am closing on a 2 bedroom/1 bath condo in Grand Boulevard. I was able to get a decent deal at $70k while it looks like the comps in the area for 2bds condo's are selling around $110 - $130k. Rents in the area go from about $1,000 - $1,200.

I would like rent it out since I think the area has much more potential for appreciation but would also consider selling as I know this is a pretty good time to sell.

What would you do?

Thanks!

[Eudith Vacio]

Thanks @John Warren

@Erika Carter do you think that area has more potential for appreciation? This condo is on 50th and Prairie. I'm not TOO familiar with the area but know it well enough to know that it was a great deal. It was an REO owned property...

@Lauren Speidel I will have to connect with you once I decide on making the move in the year or two.  I looked at your profile and you worked for Inland Bank - small world. My current lender just moved to Inland Bank this year!