Hey Jake,Chicago is very tricky because home values can vary from block to block so having someone to show you around is key.

I did a commercial assessment of a gas company, half acreand a block building with a large propane tank and concrete platform, it was $1,200 as i recall.

I'm certain it's a great workable deal at 150K, unsure at 158-160K.2. this deal requires a large amount of cash (175K) to be blocked for the amount of time it would take to complete the deal, 3-4 months.

The banks are pricing the properties to sell, are already lower than the guy down the block, and they are all getting close to, if not more than asking in ALL cases.

Finally, I get a very competent and helpful commercial lender, that says "look, I'll get with my residential loan officer and we'll go over your options" (I had sent him every road block I had gotten to at this point).

[EMAIL REMOVED]they might block my cell number[REMOVED] cell

There is certianly far more to a multi-family loan, but those are the foundation blocks I'd worry about for now.

These designations apply at the neighborhood level, and sometimes block by block the closer you get to the urban core in major cities.

Since I didn't have any buyers looking for 4 unit buildings, I sent a post card to all the owners of similar buildings within 5 or 6 blocks from the one I had under contract.

The majority of the others in the area (a few square blocks) are in the 120K - 160K range.