Jefferson Park 3 Unit Building

[Darius Ogloza]

I am administering my late mother's estate, which includes a small multi-unit building (two 3/2 flats + a 2/1 basement unit) that is about 2-3 blocks from the Jefferson Park train station.  I live out of state and have for many years and am not on top of Chicago property values.  Are property values rising in this area? falling? Best to sell now? wait for the spring?  Any thoughts would be greatly appreciated.  

[Henry Lazerow]

Market is on fire right now especially for multi units. Lots of multiple offer situations and pretty much every property priced right has offers quickly. The market will die down though drastically once October comes. In Chicago the fall is really slow and then in January it starts to get busier and spring/summer is prime time. So make sure you list it during the right time if you want to get the highest price. I have seen 5% differences in sales price fall vs summer which adds up big on a 3 flat.