@Daniel Genzer For that price range I think some of the only areas left in the city you could get a decent deal would be the Hilltop, or west Franklinton and maybe some areas of Mount Vernon. 

This isn't a deal thats going to work, Seller needs some pressure like a tax foreclosure date.

@Ronald Rohde   Thank you Ronald, I found that index to be a much better indicator of what we are seeing. http://www.chapwoodindex.org  If no one can afford the new rates at accelerated building costs, it will put upward pressure on existing inventory to help increase price.  

Anyone that can overcome all of that and not cave under the pressure.

Area County # Of Condo's / Townhomes Flips # of Single Family Flips Loop Chicago 438 - South Holland Cook County 0 42 Matteson Cook County 2 34 Auburn Gresham Chicago 3 32 Belmont Cragin Chicago 11 32 Cicero Cook County 6 31 Washington Heights Chicago 0 30 Chatham Chicago 1 28 Homewood Cook County 44 27 Bellwood Cook County 9 25 Roseland Chicago 0 25 West Lawn Chicago 14 25 Austin Chicago 14 24 Country Club Hills Cook County 0 23 Streamwood Cook County 8 23 Calumet City Cook County 37 21 Evergreen Park Cook County 1 20 Calumet Heights Chicago - 20 Morgan Park Chicago 11 20 Dolton Cook County 6 19 Chicago Lawn Chicago 2 19 Clearing Chicago 17 19 Oak Forest Cook County 29 18 Ashburn Chicago 2 18 Garfield Ridge Chicago 3 18 Crystal Lake McHenry County 26 18 Maywood Cook County 1 17 McHenry McHenry County 14 16 Avalon Park Chicago 2 15 Round Lake Lake County 7 15 Round Lake Beach Lake County 7 15 Zion Lake County 1 15 Westchester Cook County 2 14 Buffalo Grove Cook County 139 13 Lansing Cook County 52 13 Greater Grand Crossing Chicago 1 13 Aurora DuPage County 45 13 Aurora Kane County 45 13 Montgomery Kane County 1 13 Buffalo Grove Lake County 139 13 Romeoville Will County 5 13 Hanover Park Cook County 10 12 Park Forest Cook County 2 12 Richton Park Cook County 0 12 West Pullman Chicago 0 12 Hanover Park DuPage County 10 12 Villa Park DuPage County 14 12 Chicago Heights Cook County 0 11 Woodridge Cook County 27 11 Portage Park Chicago 37 11 Woodridge DuPage County 27 11 Alsip Cook County 18 10 Broadview Cook County 0 10 Flossmoor Cook County 11 10 Franklin Park Cook County 3 10 Skokie Cook County 177 10 Beverly Chicago 5 10 Franklin Park DuPage County 3 10 Hinsdale DuPage County 46 10 Waukegan Lake County 12 10 Berwyn Cook County 16 9 Brookfield Cook County 8 9 Elmwood Park Cook County 56 9 Palatine Cook County 185 9 East Side Chicago 0 9 South Deering Chicago 1 9 Dunning Chicago 64 9 West Chicago DuPage County 7 9 Carpentersville Kane County 1 9 Bolingbrook Will County 13 9 Calumet Park Cook County 0 8 Elk grove village Cook County 68 8 Hazel Crest Cook County 13 8 Posen Cook County 0 8 Schaumburg Cook County 109 8 South Shore Chicago 69 8 Addison DuPage County 35 8 Carol Stream DuPage County 14 8 Darien DuPage County 30 8 Glendale Heights DuPage County 20 8 Lombard DuPage County 159 8 Wheaton DuPage County 59 8 Batavia Kane County 8 8 Burbank Cook County 4 7 Elgin Cook County 28 7 Lemont Cook County 7 7 Morton Grove Cook County 65 7 Orland Park Cook County 61 7 Rolling Meadows Cook County 56 7 Pullman Chicago 0 7 Mount Greenwood Chicago 4 7 Humboldt Park Chicago 9 7 Elgin Kane County 28 7 Geneva Kane County 13 7 Boulder Hill Kendall County 3 7 Yorkville Kendall County 18 7 Mundelein Lake County 11 7 Lockport Will County 5 7 Des plaines Cook County 188 6 Glenwood Cook County 11 6 Hoffman Estates Cook County 33 6 La Grange Cook County 33 6 Niles Cook County 98 6 Oak Lawn Cook County 164 6 Roselle Cook County 24 6 Winnetka Cook County 17 6 Jefferson Chicago 32 6 Norwood Chicago 33 6 Bensenville DuPage County 18 6 Glen Ellyn DuPage County 69 6 Roselle DuPage County 24 6 St.

So when their high pressure sales people say they "support" owner-operators, keep that in mind.

I am not sure if you have completed any water quality testing or if you have tested the system for pressure drop but I would suspect that you may have nitrate issues on a sand point and you may have pressure/flow drop if you are trying to run a couple fixtures at the same time.  

Your insurer is going to be on the hook for everything against you up to your limit, so they are going to mount a vigorous defense or settle if it is clear they will likely lose. 

Summit Mount Whitney, CA.3.

Typical guru stuff -- some great gems surrounded by lots of high pressure sales.