All Forum Posts by: Kevin Garvey

It seems that a lot of people dump on Garfield Park but I've always loved the area. Like everywhere in Chicago, every block is different, but Garfield Park has a lot going for it.

One thing that has always kind of amused me about it is that people have been calling it "up and coming" or "the next big thing" for at least 20 years but it's still fairly affordable. Every time I go through the area I see plenty of investement. Section 8 rentals are a huge opportunity in the area, and medical students/employees at the nearby hospitals are a great pool of potential tenants as well.

I have spent a lot of time in the area and I would echo what several previous replies said - Garfield park is a great place to invest you have the right team who knows the area. It's block by block but there is a lot of opportunity there.

I can definitely recommend some guys. DM me if interested. 

I occasionally look at contingent comps if I can't find anything comparable and have exhausted all possible avenues for sold comps. Usually I will expand the area and look farther back in time before looking at under contract comps. I only find myself having to do this in situations where it's an unusual property type or configuration. 

Welcome! It's good to meet another born and raised Chicagoan in the forums.

I've found that the best thing is to stick to what you know, in terms of the areas and the types of projects you work on. What part of town are you thinking of getting started in? 

There are also lots of meetups where you can meet other investors - check out the events page if you haven't already.

Feel free to DM with any questions!

Welcome!

Definitely try and make it to a meetup - there are a lot of good people around with a lot of good advice. 

What area are your current properties in?

I have spent a lot of time in building court over the years. Go to the hearing with your lawyer (or just send the lawyer if you yourself can't make it) and bring all the documentation you have on the building, especially those inspections. Most likely you will be in front of the judge (technically it might not even be a judge) for about 90 seconds and then you'll get an order dismissing you from the case.

Feel free to DM me with any additional questions. 

Quote from @Akeem Watson:

Hello everyone,

I am moving to Chicago soon and looking for great investments to house hack. Would it be a good investment to buy in southshore, woodland or Chicago lawn?

Welcome to Chicago! 

Chicago Lawn is a much different area than Woodlawn or south shore - there are a lot more single family and small 2-4 unit properties, and the area is less dense generally. 

Woodlawn is seeing some price increases lately due to new investment and the Obama library. Jackson and Washington parks are always a huge selling point, as well as the proximity to university of Chicago. 

South Shore , as someone mentioned, has a lot of very large apartments in the 2-4 unit buildings in the area. 

I’ve been working all over the southside for years and it comes down to knowing the block and the surrounding blocks. It’s good to get involved with the neighbors and neighboring institutions as well. 

 Hi Chris,

The Northwest blue line areas are always popular. Wicker park and Logan Square have reached a critical mass, and Avondale is on the way there, so Hermosa and Belmont Craigin are getting popular. Humboldt Park also has a lot of good deals.

Don't overlook the South Side either - Woodlawn has seen a massive resurgence in the last couple years with the Obama library construction. 

Welcome to the forums!

Chicago is full of 2-4 unit properties and there is a ton of opportunity here.