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Updated 6 months ago on . Most recent reply

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Teekap Pate
3
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11
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Chicago high-rise investment

Teekap Pate
Posted

Hello, does anyone have any feedback on ROI/rental income for condos in the 60610 or 60614 zip codes in Chicago? I'm looking at the high rises near Lakeshore drive area. I like the added security with doorman and onsite maintenance but know the assessments can be high. Looking to hold this as long term investment and rental income.

  • Teekap Pate
  • Most Popular Reply

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    Paul De Luca
    • Real Estate Agent
    • Chicago, IL
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    Paul De Luca
    • Real Estate Agent
    • Chicago, IL
    Replied

    @Teekap Pate

    I agree with @Jonathan Klemm. It's really difficult to get those condos to make sense as investments in my experience. Maybe if you put a large down payment on the property and you find a low HOA fee building but there is also the potential risk of large special assessments if the HOA isn't well managed.

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    Magnus Properties LLC
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