New to Chicago Multi Family Commercial Investing

[George Leeman]

Hello, I would love to connect with some experienced people in the Chicago multi family business. I am trying to get a 12 unit place under contract for 550k, rents around $600+ per unit, tenants paying their own electric and heating (with me being responsible for garbage, water, sewer, and general hallway maintenance and landscaping) The building isnt very old for chicago, which is why I like it.

I am realizing I probably need a decent amount of advice from experienced investors in the area, I would love to connect with someone who might be able to offer some insight. 

If anyone would have any interest in connecting, please drop me a message or say so here and I will message you myself. 

Thanks everyone!

[John Warren]

@George Leeman this sounds like a solid deal on the surface, but as a local investor and agent I would say be very careful that you aren't in a war zone. From the numbers, it sounds like South Side. Have you spoken to property managers yet? If you are out of state, I would actually be starting there as your operations will determine if the property will perform. You should connect with @Mark Ainley. His team manages all over the Chicago market and he would be a good data point for you on this deal.