All Forum Posts by: Ann Folan

Great info here. We build primarily in the northside neighborhoods (not suburbs as noted above) of Roscoe Village, Lincoln Square, Andersonville, etc. Finding a building in any of those neighborhoods is going to be a mighty challenge -- they are some of the hottest neighborhoods in the city. I would argue Lincoln Square is the hottest right now for new construction and Roscoe Village was gone a long time ago -- lots of new construction on every block (we have built no less than 4 new single family homes in Roscoe Village in the last 5 years, probably 10-12 in Lincoln Square). 

There is a huge trend right now to buy 2 and 3 flats and convert them to single families - we are on our 5th project like this right now. These are not quick flips, these are complete gut re-habs with price points over the $1M mark. So in these neighborhoods, you are battling every developer in the city that will take that building down and put up condos or gut it and convert it to a SFR.

Ravenswood is one of my favorite city neighborhoods, but be warned -- Lincoln Square has spread as far as Ravenswood and the creep is continuing. Not sure these neighborhoods are ideal for what you are looking for. You will have to pay more for buildings in these neighborhoods and the rents are not significantly higher than more up and coming areas. Logan Square is pretty hot right now too - since the 606 went in, property has sky rocketed and again, developers are all over the place. You might have a better chance in Logan Square however than the others.

There are areas that are better from an investment standpoint. To get a better return, look at some of the more up and coming neighborhoods mentioned above (Avondale, Albany Park, Irving Park, Edgewater, even Jefferson Park etc). Those are all areas I am looking in as well. Feel free to send me any leads folks! Not as familiar with the south side neighborhoods (I am a born and raised northsider) but hearing good things about some areas down south and am looking there as well. I don't know a lot about the suburbs, so hopefully you get some help from others there.

Just my 2 cents from a developer standpoint! Hope it helps.

Hi all, we are a GC in Chicago and are currently finishing a massive gut re-hab in Bronzville/N Kenwood. We are fairly close to UofC and have absolutely no issues -- great group of neighbors right where we are. You are absolutely right - Chicago is VERY block by block. We have been on this project for about a year (complete gut and re-build of an historic 3-story greystone), we are literally finishing up the last bits and pieces and the AC units just went in last week (it was HOT on that 3rd floor!). Typically we wait to install them as they do tend to walk off the jobsites regardless of fences or locks. 

We did install an alarm system almost immediately - the alarm company can get a system up and running pretty quickly and we control it from our smart phone. Not super expensive and well worth the money (we do this on all our projects), might not be economically feasible for all projects but something to keep in mind if the project warrants it. This is a very high-end project so an alarm system was going in the finished project anyway, they just installed a temporary system for use during construction. 

We have been building in Chicago for more than 16 years and have never had subcontractor issues like those outlined above! We have some subs we have worked with for 15+ years and a good group of subs is a good GC's bread and butter. 

Feel free to DM me, happy to help from a GC perspective if I can!

I posted this inquiry on another forum and it may have been the wrong place (first post -- eek). Anyway, we were contacted by the company below - we are a very experienced GC (16+ years) in Chicago with excellent credit looking to move our business to the next level and we have spoken to this company regarding hard money financing. Has anyone dealt with them? A few reviews here and there an good BBB rating but not much else I can find:

Suite 245 Anaheim, CA 92808 Tel: Fax:

Thanks!

We have been contacted by a company out of Anaheim CA below: -- wondering if anyone has heard of them or has any experience with them? We are a very experienced GC in Chicago (16+ years) with excellent credit - looking to move to the next level and trying to get some hard money to get there. Any input is appreciated!

Suite 245 Anaheim, CA 92808 Tel: Fax: