The local govt has a history of corruption & overspending.Last time I was down the Hilton Coronado had shut down its casino.

Thanks again Chris Mason for taking the time, that is extremely helpful knowledge for this new investor.Al Casino , also a very valid point.

@Charletta Goodman it does not look weird!

Purchase price: $482,000,000 Cash invested: $26,000,000 The Las Vegas property is a Hotel and Casino, Chicago is a 814 unit profile.

@Manny Garcia@Robert Hernandez@Heather Medina@Scott Costello@Caren Goodman@Belinda Lopez@Theo Davis@Marc Pfleger

Crazy how much new development is going on 164th between Avalon, Goodman, etc - huh?

@Derek Daun LoL, I was stationed in Las Vegas for 5 years and I always compare insurance to gambling casinos....you give them your money and they never have to give you anything in return.  

Sounds good man if I am up that way I definitely will.

Rent Control is in place which depresses overall rents as a median - good article recently from the "Goodman report" (Goodman represents a big chunk of the commercial apartment building sales that occur in Vancouver) which noted that there's numerous rent increases occurring on lease turnovers; so a 4/5/6% CAP apt. building is slowly rising to be 7 or 8% or more, but it takes a long time.In any case - it's also VERY dependent on when you bought/buy, what neighborhood (location location location!)

@barbara goodman and @derek b.Thanks for the advice.