6644-6646 N Harlem Chicago

[Cramer Guzaldo]

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $1,200,000

12 unit multi family building in the heart of Edison Park in Chicago.

What made you interested in investing in this type of deal?

We are always investing in multi family

How did you find this deal and how did you negotiate it?

Word of mouth, and we began negotiations immediately after we heard there was turbulence between an old potential buyer and the seller.

How did you finance this deal?

Conventional financing 25% down 25 year mortgage.

How did you add value to the deal?

We realized the rents were much lower than market value so we have gutted and began renovating each unit as it becomes vacant. This has added over 1k in rents and that’s with just 2 units being renovated.

What was the outcome?

Much higher rent and moral in building with existing tenant

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Marquette Bank- Pat Touhy
Guzaldo Law Firm- Real Estate Attorney/Specialist
Barley Construction