Second, projects go from 4 months to 7 months and then expected time on market goes from 30 days to 70 days ALL THE TIME. 

The property sold for $154,900 on 2/7/25, delivering a successful outcome thanks to strategic updates and efficient project management.

If part of the property is rentable while renovations are happening, that could help offset carrying costs.Given your construction background, you’ve got a huge advantage in managing the project efficiently—it’s just about getting through the red tape and de-risking the unknowns before pulling the trigger.Have you talked to any local investors or contractors who’ve tackled similar projects in Wicker Park?

Many banks handling tax escrow accounts for mortgages have mistakenly thought there was one tax due twice/year or totally missed one of the taxes.Investors should research the SEV and the Non-Homestead property tax millage rates to project what the property taxes will be after adjustment.

If you go with the partnership route1) You need to manage the money going in and out of the business bank account.2) File a partnership return and be responsible for issuing K-1's3) make distributions to you and your partner for cash flow that you receiveYou will likely spend many hours on a nice gesture.I may want to consider instead to give a christmas gift or a bonus for early completion of projects.

Areas with new businesses, developments, or infrastructure projects, as these are strong indicators that the property values will appreciate over time. 

I'd love to hear about your projects and offer my help in anyway that I can!

What’s the project or projects?  

@Frank Alfano agency debt is very competitive (75-80 ltv, non-recourse, fixed-rate etc); you can syndicate and raise the equity portion needed from friends and family, provided you can market and lead the project.

I do not judge anyone that sees a high projected return and becomes interested.