All Forum Posts by: Daniel Orkin

Does anyone have any experience with any property mgmt companies in Chicago? I may be living out of the city next year and am interested in renting my primary residence, which is a SFH in 60647 and likely won't have the time to manage it remotely. I'm not too keen on selling, so think this may be the time for a mgmt company. Thanks in advance for any referrals.

Hello -  I need some help installing some quarter round molding and door thresholds in a bedroom.  The guy who did the main flooring work isn't getting back to me.   This job can probably be handled by a handyman with a nail gun and a miter saw, so don't necessarily even need a pro flooring company. This is in Logan Square, Chicaog, and any referrals would be most welcomed! Thanks! 

Hey All,

Looking for reliable recommendations on the following:

Electrical -- need to have some look at a circuit breaker which apparently is not up to code. 

Tuck-pointing -- just on the outside on the foundation, not a huge job/whole house sort of thing.

Garage Roof -- this is the biggest project. Some of the beams on the garage roof are warped and need replacement or reinforcement. This is definitely something beyond a typical handyman call.

This is all in 60647 in Chicago -- thanks for any leads! 

Hi there -- I'm very new to RE and BP, so apologies if common economic logic already answers this question.

I live in Chicago along the Blue line in Logan Square, which is a "hot" neighborhood. I see plenty of future growth in these parts, and am eager to buy an old 2-flat or 3-flat (what the rest of the country calls a 2 or 3-plex).

Everywhere I go in this neighborhood I see new condos springing up like concrete weeds, including several gargantuan buildings by the California train stop in an area that's mostly SFRs and small multis.

My question is this: Is the influx of new construction a great sign for the rising prospects of the neighborhood or is it just creating competition for older buildings and rents?  

For example, say I buy a few units in the next year or two. If there are thousands of brand new, rental units down the street, will supply outpace demand? 

Thanks for any insight from afar or from any Chicago/60647 pros. 

Thanks for sharing this.  I don't have any insight for you but this is the exact type of property in the exact area I'm looking to buy in, so this post is very inspiring to me. 

I'm also in Chicago and looking for opportunities. Feel free to message me! 

Thanks for the reply @Lumi Ispas!   For some perspective, if you're curious, the condo was purchased for $297k in 2012. Other similar units in the building since then have sold for around $380 though nothing has sold in the past 6 months that I can tell, and its definitely more and more of a seller's market around here now than it's been in the past few years. So even with closing costs and some work we may want to put into it, we're already looking at a pretty healthy profit. 

I know one of the other units on our floor is renting for $2100, and HOA and Taxes are around $750. There's no mortgage currently so I'm looking at around $1400/mth cash flow minus other expenses that crop up. But like you said its really more a matter of what to do with the funds if we do sell which would either be another property or putting it back in the market.

Salutations from Chicago's lovely northwest Logan Square-Bucktown-Humboldt Park neighborhood. I'm entirely new to the real estate world, but like many of you, have been digging through the podcasts and am eager to jump in. 

Currently, my wife and I own a 2bd/2bth timber loft condo in great neighborhood that's somewhere near the end of being "up-and-coming". We're moving to a single family soon, and are currently evaluating the benefits and risks of renting vs selling the condo.