Duplex in South Chicago

[Billy Maloney]

Im analyzing a deal that looks pretty good on paper. Its through a turnkey company Eliteinvest. The property is on S Coles AveCHICAGO, IL60649 price is 175k projected rent is 1100 each unit, total 2200.  I believe it could be a good deal short turn but the tenants would be section 8 and the area is not the best area. It is close to the water though.  Does anyone have any good or bad experiences with Elite. Anyone with knowledge of the area think this would be too risky in the long run?  

[Mark Ainley]

@Billy MaloneyBeing close to the water means nothing in the 7000 and 8000 south blocks in Chicago.  We own and have owned/managed a hand full in that area.  Coles stretches from 71st st on the north down to 83rd and there isnt really a good block across that entire stretch.  Lots of gang wars(of different races too) in that area.  Would be more than happy to tell you more if you reach out.   The Lakeside project and the Lake itself make investments sound and look sexy but hardly changes the area at this time or your tenant you are renting to.