All Forum Posts by: Mary S.

I have an offer pending on a retail condo in chicago with about a 10-12 cap rate. Its in a good area of the city (lincoln park/lakeview) with decent traffic. 

I'm not understanding pricing here.  I know people are concerned that property taxes will rise slightly, population growth etc.. but is that the sole reason for the high cap rate? There are very few, if any, other big cities with such cap rates. Even smaller big cities down south sell at 7-8 cap rates, and the Boston/DC/NY markets sell at 4 cap rates. Am I missing something in Chicago? Are investors just concerned about the city in general? Is there something else? Even though NY may be a better market does that make up for 1/3 less of net income over the years?

Thanks!

I understand the population slightly decline, but does that account for three times the cap rate? Even if NY/Boston/LA etc appreciate more than Chicago, it would have to do so a lot to make up for that income difference over the years.

I am new to the Chicago market, and I'm not understanding pricing here. I am seeing a lot of retail condos on trafficked streets in good locations in the city with a 10-12% cap rate (part. lower-priced condos).  I know people are concerned that property taxes will rise slightly, but is that the sole reason for the high cap rate?  There are very few, if any, other big cities with such cap rates. Even smaller big cities sell at 7-8 cap rates, and the Boston/DC/NY markets sell at 4-5 cap rates.  

Am I missing something in Chicago? Are investors just concerned about the city in general? Is there something else?

I have a portfolio of some commercial retail and multifamily assets. Some of them I manage and some of them I own with other partners who manage them.

I would like to keep track of them in one location for ease and overview. I have tried quickbooks but it is too complicated and don't like that I need different company files for each LLC. It becomes confusing. I also tried Buildium online, which I like for its user interface that was very intuitive. However, for security, I thought it better to use a software I can download. I also want to do synching with my various bank accounts.

Any recommendations?  

Related, any recommendations for a program that synches and tracks all my assets, including stocks, bank accounts, real estate etc? (almost like mint.com, but more sophisticated and not just for bank accounts) I tried Quicken once but found its user interface really not natural and difficult to use.  I cannot seem to find the programs I need.

Thanks in advance!