World Class Golf Course coming to South Shore Chicago

World Class Golf Course coming to South Shore Chicago

World Class Golf Course coming to South Shore Chicago

The news just keeps getting better for the South Shore Chicago neighborhood.
Tiger Woods has agreed to design a golf mecca on the south side of Chicago.
The goal is to have professional televised golf tournaments played there.
That is a lofty goal indeed!

I read that President Obama called Tiger Woods and asked him to design
this new course as a personal favor.
I am sure Mayor Rahm Emanuel made some moves behind the scenes as well.
(For instance, there was no public vote or input on the matter)

Tiger Woods and President Obama Phone Call

Tiger Woods and President Obama discussing the South Shore Golf course.

It sounds like it will extend from Jackson Park near 67th and Stony Island
all the way to the South Shore Cultural Center on 71st Street and South Shore drive.
This is a very beautiful stretch of real estate. It has stunning views
of the Lake to the east and the Chicago skyline to the north.

The total project is expected to cost around $30 Million dollars!
80% of that is expected to come from private investors.
The project will start in mid 2017 and it will take about 3 years to complete.
Combine the new golf course with the new Presidential Library, and I think
we are about to see a chain reaction of commercial investment in South Shore Chicago.

This is really great news for the South side of Chicago and the city in general.
It will definitely have a positive impact on local real estate values.
I think South Shore is a great place for real estate investments.

Several real estate investors have asked me about the South Shore neighborhood recently.
If you are thinking about picking up an investment property or two,
South Shore should definitely be on your radar.

Prices are still reasonable and the long term outlook is great.
If you have any questions about buying South Shore Chicago real estate,
please let me know!

South Shore Real Estate Listings

Until the next time,

Mark Killion
Kale Realty
2447 N. Ashland
Chicago, IL 60614

Office: 312-939-5253
Cell: 773-354-6693

Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

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Posted in Chicago Real Estate, Golf, Investment properties, multi-family, multi-unit, South Shore | Tagged , , , , , | Comments Off

South Shore Cap Rates – Chicago Multi-Family Apartment Buildings

South Shore Chicago Cap Rates

South Shore Chicago Cap Rates

I just did a quick analysis of closed transactions for South Shore Chicago.
I focused on Multi-Family Apartment Buildings only.
This was for sales that took place in 2016.
About 20 transactions closed on the MLS this year.
The estimated median Cap Rate in South Shore was 10.9%

I estimated the Cap Rate by looking at the Gross Income.
I then assumed 50% expenses to get the Net Income.
I like doing this because some sellers may play with the expenses
to make them look lower than they really are.
Many feel that the 50% rule is a pretty good estimate of expenses.
Then I divided the estimated Net Income by the Selling price.
So I arrived at a median Cap Rate was 10.9%
So this should give you a good idea of where Cap Rates are in the
South Shore neighborhood.
If you have any questions about buying or selling investment
properties in South Shore, you can send me a text (or call)
Mark Killion 773-354-6693.
You can also send me an email: mark@markkillion.com

Until the next time,

Mark Killion
Kale Realty
2447 N. Ashland
Chicago, IL 60614

Office: 312-939-5253
Cell: 773-354-6693

Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

773property.com Logo

Posted in cap rates, Chicago Real Estate, commercial real estate, multi-family, multi-unit, South Shore | Tagged , , , , , , , , , , | Comments Off

Bronzeville Condos – Sales Analysis – Chicago

The condo market in Bronzeville is trending up.
As we can see from the charts below, sales prices have been steadily increasing
since 2011. This is great news for Bronzeville condo owners.
And buyers can take comfort in knowing condos are still relatively affordable in Bronzeville.

Due to strong rental demand in the area, owning a condo may even be cheaper than paying rent.
The average selling price for a 2bed/2bath condo, in 2016, is about $91,000.
The average selling price for 3 bedroom condo, with 2 baths, is about $143,000.

As of 12/3/2016, there are 17 3bed/2bath condos on the market for sale in Bronzeville.
The median asking price is $154,000.

As of 12/3/2016, there are only 7 2bed/2bath condos on the market for sale in Bronzeville.
The median asking price is $160,000.

If you are thinking about buying or selling a condo in Bronzeville, let me know!
You can text me: Mark Killion 773-354-6693.

bronzeville_chicago_condo_analysis

Bronzeville 3bed/2bath condo sales analyis - Chicago

Bronzeville 3bed/2bath condo sales analysis – Chicago

Until the next time,

Kale Realty
2447 N. Ashland
Chicago, IL 60614

Office: 312-939-5253
Cell: 773-354-6693

Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

773property.com Logo

Posted in bronzeville, Chicago, Chicago Real Estate, condo, Real Estate, real estate analysis | Tagged , , , , , | Comments Off

Newport Condos – 4800 S. Chicago Beach

Let’s take a look at sales trends for the Newport Condos in Kenwood, Chicago.

Newport Condos - 4800 S Chicago Beach

Newport Condos – 4800 S Chicago Beach

Sales Trends for 1bed/1bath units

Sales Trends for 1bed/1bath units

Sales Trends for 2bed/2bath units

Sales Trends for 2bed/2bath units

Sales Trends for 3bed/2bath units

Sales Trends for 3bed/2bath units

If you are thinking about buying or selling a condo in Newport Condos,
this should give you a good idea of current values. For a more
detailed analysis, please contact me.

p.s. I have a beautiful 1bed/1bath unit, at Newport Condos, for sale at $90,000!

Until the next time,

Mark Killion
Real Estate Broker
Kale Realty
24 Hour Voice Mail: 312-242-1822

Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

773property.com Logo

Posted in Chicago Real Estate, condo, condo financing, Kenwood, Real Estate, real estate analysis | Tagged , , , , , , | Comments Off

Bronzeville Real Estate Update

Bronzeville Real Estate Sales Analyis

Bronzeville Real Estate Sales Analyis

Posted in bronzeville, Chicago Real Estate, real estate analysis | Tagged , , , , | Comments Off

Grand Boulevard (Bronzeville) Condo Sales in 2015

Bronzeville Condo Sales in 2015

Let’s take a look at last year’s condo sales in Grand Boulevard, Chicago.
Grand Boulevard is also referred to as “Bronzeville”.
Grand Boulevard comprises the southern half of Bronzeville.
Douglas makes up the northern half of Bronzeville.
This analysis is based on transaction data from the
MRED Multiple Listing Sytem.

Overall, it was a good year for condo sales in Bronzeville.
A total of 148 condos were sold. Here is the breakdown:

– 1 Studio condo sold for $105,000
– 5 One Bedroom condos sold for a median price of $72,500
– 45 Two Bedroom condos sold for a median price of $59,500
– 83 Three Bedroom condos sold for a median price of $105,000
– 14 Four Bedroom condos sold for a median price of $141,000

If you are thinking about buying or selling a condo in Bronzeville,
this should give you a good idea of current values. For a more
detailed analysis of Bronzeville Real Estate please contact me.

Until the next time,

Mark Killion
Real Estate Broker
Kale Realty
24 Hour Voice Mail: 312-242-1822

Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

773property.com Logo

Posted in bronzeville, Chicago Real Estate, condo, condo financing, Home Values, real estate analysis | Tagged , , , , , , | Comments Off

Average rents in Bronzeville

Average Rents in Bronzeville

Average Rents In Bronzeville

Posted in bronzeville, Investment properties, Investment Property, real estate analysis, rentals | Tagged , , , , , | Comments Off

Price Trend for single family homes sold in Bronzeville Chicago

Price Trend for single family homes sold in Bronzeville Chicago

Price Trend for single family homes sold in Bronzeville Chicago

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Average Rents in Chicago by neighborhood (2015)

I decided to analyze Chicago rent prices.
This analysis is based on rentals from 2015.
I analyzed over 17,000 closed rental transactions!
This might come in handy if you are thinking about
investing in a certain neighborhood.
It also helps when you are looking to rent out an apartment.
Let me know if you have any questions.

Until the next time,
Mark Killion
Real Estate Broker
Kale Realty
773-354-6693
Visit me online: www.773property.com

Average Rents in Chicago by neighborhood

Average Rents in Chicago by neighborhood

Average Rents in Chicago by neighborhood

Average Rents in Chicago by neighborhood

Average Rents in Chicago by neighborhood

Average Rents in Chicago by neighborhood

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Downtown Chicago – Condo Sales Analysis (2015 vs. 2014)

Downtown Chicago - Condo Sales Analysis  (2015 vs. 2014)

Downtown Chicago -Condo Sales Analysis (2015 vs. 2014)

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