All Forum Posts by: Matt OToole

If anyone is interested in purchasing, DM me your email address and I can send you details and pictures.  

In summary, it is a 7 bed 5 bath building. Legal 3 flat

• Unit 1 is 2 bed 1 bath currently rented at $2,000 per month (lease expires summer 2025)
• Unit 2 is 2 bed 1 bath currently rented at $2,250.00 (lease expires summer 2025)
• Unit 3 is 3 bed 3 bath duplex up owners unit. Currently owner occupied.
  
  Asking Price is $1,375,000
  
  

I have a 3 flat in Lincoln Park, Chicago, IL that I am planning to list for sale in the next 3-6 months.

Currently owner occupied in 1 unit (Duplex up, 3 bed 3 bath).
The other 2 units (2 bed 1 bath each) are rented.

I am wondering if it is more attractive to buyers to leave the 3 bed 3 bath unit vacant when I move out, or should I place a tenant in there and then list for sale?

I have a 3 flat in Lincoln Park, Chicago, IL that I am planning to list for sale in the next 3-6 months.

Currently owner occupied in 1 unit (Duplex up, 3 bed 3 bath).
The other 2 units (2 bed 1 bath each) are rented.

I am wondering if it is more attractive to buyers to leave the 3 bed 3 bath unit vacant when I move out, or should I place a tenant in there and then list for sale?

If all three units are now rented, can you share the gross montly rent? @Henry Lazerow

Thanks @Crystal Smith

I am looking on West side and north side.... wicker park, west town, ukranian village, bucktown, lincoln park, lakeview, wrigley, roscoe village, etc.  Doesn't seem to be much in the 250K - 300K range in those areas.

Let me know if you come across any deals. Thanks!

@Evan Polaski Thanks for the insight!

Sounds like you actually prefer an older property?

I am considering buying a multifamily property in the city of Chicago in the $750k-$1.5 million range.  Likely a 2-4 flat.  This would be to live in for a couple years then maybe move out, but hold forever.

Most of these properties are in the 100 year old (or older range), so this does concern me. 

I am wondering if a building that age would have so many issues over a long hold period that it would be a poor investment?

Anyone have experience in Chicago or elsewhere?

Thank you!

I am planning to house hack spring of 2018 by buying a multifamily property and living in one unit while renting the others.  I'd like to learn more about building construction/codes this winter.  Likely will buy something in  Chicago or surrounding suburbs

Would it be beneficial to take a property inspector course like this one ? (its pretty cheap).  Not to become certified, just to learn.

https://www.nachi.org/become-licensed-home-inspect...

Or can anyone recommend any books or other reading?

Thank you!