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Updated over 4 years ago on . Most recent reply

Alejandro Ferrer's profile image
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Alejandro Ferrer
  • Member since Sep 18, 2020
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Alejandro Ferrer's profile image
Alejandro Ferrer's profile image
Alejandro Ferrer
  • Member since Sep 18, 2020
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Alejandro Ferrer
4
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Chicago Real Estate Forum

Investing in summit IL

Alejandro Ferrer
Posted

Hello biggerpockets family, I am a new investor looking to buy a four unit in the summit IL 60501 area. Was wondering if anyone has knowledge about this area? 

Chicago, Illinois
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Wallace Pendleton's profile image
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Wallace Pendleton
  • from Chicagoland Area
  • Member since Dec 21, 2018
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Wallace Pendleton
  • from Chicagoland Area
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Wallace Pendleton
  • Chicagoland Area
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Wallace Pendleton
  • Chicagoland Area
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@Alejandro Ferrer taxes are extremely high in the area, neighborhoods are rough and the rents are low. Through some research I’ve noticed that not much was going on in the area to reduce the taxes in the future. If taxes were cheaper or you could get the right amount for rent, then go all in. Run the numbers obviously in any of the properties but don’t forget what the mortgage would be with the taxes.

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