Big things in store for the South Loop

DePaul arena coming to the South Loop?

DePaul arena coming to the South Loop?

If the mayor of Chicago get his way, the South Loop will be the
new home of the DePaul University Sports Arena and a new hotel.
This development will be around 2200 S. Michigan.

This should start a chain reaction of commercial
development in the area.
This will be great for the South Loop neighborhood
and DePaul university.
This is a huge $92 Million dollar project.
It might be a good time to buy some land in the
South Loop ;)

Until the next time,

Mark Killion
RE/MAX Premier Properties
1205 N Dearborn
Chicago, IL 60610

Send me a note!

Visit me online: www.773property.com

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2013 3rd Quarter Sales Analysis

 3rd QTR Sales by Category

3rd QTR Sales by Category

Based on the charts shown above, we can see
that distressed sales are making up a smaller
percentage of today’s real estate transactions.

That is a great sign, as it shows that the general
health of the real estate market is improving.

In the 3rd quarter of 2012, short sales made up 13% of the sold properties. In the same time period in 2013, short sales only accounted for 9% of the total sales.

Likewise, bank owned transactions dropped from 30% of the total transactions down to 25%.

So even though distressed sales are still a big slice of the pie, that slice is getting smaller every year. This is a great sign.

Also, it is interesting to note that the total number of sales was greater in 3rd quarter 2013 versus 3rd quarter 2012.

Well that’s all for now…
If you have any questions regarding the Chicago
real estate market, please send me an e-mail: mark@markkillion.com

Until the next time,

Mark Killion
RE/MAX Premier Properties
1205 N Dearborn
Chicago, IL 60610

Send me a note!

Visit me online: www.773property.com

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Section 8 Approved Rentals in Chicago

Hello everyone.
Here is a list of Section 8 approved rentals that I have access to.
If you know someone in need of a Section 8 approved rental,
please send them to this page.
Also, the available listings change all the time, so come back often.
Thanks.

——————————————————————————–
Listings Updated: 5/30/2018

Auburn Gresham—8016 S. Marshfield—3 Bed/1 Bath—$1250—Details

Austin—1204 N. Lockwood—2 Bed/1 Bath—$825—Details
Austin—208 N. Waller—3 Bed/1 Bath—$1150—Details
Austin—310 N. Long—2 Bed/1 Bath—$1150—Details
Austin—5214 W. Washington—1 Bed/1 Bath—$1150—Details
Austin—4955 W. Washington—3 Bed/1 Bath—$1200—Details
Austin—310 N. Long—4 Bed/2 Bath—$1575—Details

Chatham—8135 S. DREXEL—1 Bed/1 Bath—$700—Details
Chatham—8144 S. Drexel—1 Bed/1 Bath—$775—Details
Chatham—8331 S. INGLESIDE—1 Bed/1 Bath—$850—Details
Chatham—548 E. 89th—1 Bed/1 Bath—$950—Details
Chatham—8154 S. Drexel—2 Bed/1 Bath—$950—Details
Chatham—8618 S. Ingleside—2 Bed/1 Bath—$1000—Details
Chatham—7928 S. Indiana—2 Bed/1 Bath—$1250—Details
Chatham—8226 S. Drexel—4 Bed/2 Bath—$1400—Details

Chicago Lawn—6840 S. Claremont—3 Bed/2 Bath—$1100—Details

East Garfield Park—2836 W. Polk—3 Bed/1 Bath—$1300—Details
East Garfield Park—3630 W. Polk—4 Bed/1 Bath—$1500—Details

Englewood—5718 S. Green—4 Bed/2 Bath—$1350—Details

Greater Grand Crossing—7331 S. Yale—2 Bed/1 Bath—$850—Details
Greater Grand Crossing—7444 S. Langley—1 Bed/1 Bath—$850—Details
Greater Grand Crossing—7419 S. Maryland—2 Bed/1 Bath—$895—Details
Greater Grand Crossing—6842 S. Calumet—3 Bed/1 Bath—$1000—Details
Greater Grand Crossing—48 E. 75th—2 Bed/1 Bath—$1095—Details
Greater Grand Crossing—6957 S. Princeton—3 Bed/1 Bath—$1200—Details
Greater Grand Crossing—7010 S. Woodlawn—3 Bed/1 Bath—$1200—Details
Greater Grand Crossing—7144 S. Rhodes—3 Bed/1 Bath—$1200—Details
Greater Grand Crossing—7419 S. Princeton—4 Bed/1 Bath—$1200—Details
Greater Grand Crossing—6960 S. Anthony—4 Bed/1 Bath—$1250—Details

Humboldt Park—709 N. TRUMBULL—3 Bed/1 Bath—$1050—Details
Humboldt Park—3920 W. Huron—3 Bed/1 Bath—$1150—Details
Humboldt Park—3802 W. Huron—2 Bed/1 Bath—$1200—Details
Humboldt Park—4026 W. Division—2 Bed/2 Bath—$1200—Details
Humboldt Park—706 N. SPAULDING—3 Bed/1 Bath—$1325—Details

Kenwood—4343 S. Greenwood—4 Bed/1 Bath—$1500—Details

Morgan Park—11118 S. Racine—3 Bed/1 Bath—$1350—Details

Near West Side—2329 W. MONROE—3 Bed/1 Bath—$1250—Details

New City—5323 S. EMERALD—2 Bed/1 Bath—$850—Details
New City—1220 W. 52nd—3 Bed/1 Bath—$1200—Details
New City—1450 W. GARFIELD—3 Bed/1 Bath—$1250—Details

North Lawndale—4154 W. 21st—2 Bed/1 Bath—$1050—Details
North Lawndale—1252 S. Kedvale—3 Bed/1 Bath—$1075—Details
North Lawndale—1120 S. Sacramento—2 Bed/1 Bath—$1200—Details
North Lawndale—1241 S. Millard—4 Bed/1 Bath—$1375—Details
North Lawndale—1516 S. Hamlin—4 Bed/1 Bath—$1500—Details

Portage Park—5559 W. Henderson—3 Bed/1 Bath—$1800—Details

Pullman—10450 S. Maryland—2 Bed/1 Bath—$900—Details

Riverdale—13116 S. Forrestville—4 Bed/1 Bath—$1150—Details

Roseland—11348 S. Front—2 Bed/1 Bath—$980—Details
Roseland—10758 S. Edbrooke—4 Bed/1 Bath—$1300—Details
Roseland—10449 S. Wabash—4 Bed/1 Bath—$1395—Details

South Chicago—8714 S. Manistee—2 Bed/1 Bath—$700—Details
South Chicago—8908 S. Burley—3 Bed/1 Bath—$800—Details
South Chicago—8819 S. Saginaw—2 Bed/1 Bath—$950—Details
South Chicago—8720 S. Mackinaw—3 Bed/1 Bath—$1000—Details
South Chicago—8501 S. Crandon—4 Bed/2 Bath—$1195—Details

South Shore—7415 S. Colfax—2 Bed/1 Bath—$759—Details
South Shore—7807 S. SAGINAW—3 Bed/2 Bath—$900—Details
South Shore—2424 E. 78TH—2 Bed/1 Bath—$950—Details
South Shore—7742 S. Colfax—1 Bed/1 Bath—$975—Details
South Shore—2830 E. 77th—3 Bed/2 Bath—$1000—Details
South Shore—7731 S. Kingston—4 Bed/1 Bath—$1000—Details
South Shore—7746 S. Jeffery—1 Bed/1 Bath—$1025—Details
South Shore—2508 E. 78TH—3 Bed/1 Bath—$1100—Details
South Shore—7751 S. Saginaw—3 Bed/2 Bath—$1150—Details
South Shore—7030 S. Chappel—3 Bed/1 Bath—$1200—Details
South Shore—7742 S. Colfax—2 Bed/2 Bath—$1200—Details
South Shore—7742 S. Colfax—2 Bed/2 Bath—$1200—Details
South Shore—7742 S. Colfax—2 Bed/2 Bath—$1200—Details

Washington Heights—9733 S. Emerald—2 Bed/1 Bath—$1400—Details

West Englewood—1235 W. Marquette—2 Bed/1 Bath—$695—Details
West Englewood—1237 W. Marquette—2 Bed/1 Bath—$695—Details
West Englewood—2000 W. 70th—2 Bed/1 Bath—$700—Details
West Englewood—6828 S. Loomis—3 Bed/1 Bath—$1100—Details
West Englewood—6926 S. Marshfield—5 Bed/1 Bath—$1100—Details
West Englewood—6938 S. Ada—3 Bed/1 Bath—$1195—Details
West Englewood—6327 S. Marshfield—3 Bed/1 Bath—$1350—Details
West Englewood—6040 S. LAFLIN—5 Bed/2 Bath—$1500—Details

West Garfield Park—4233 W. Monroe—3 Bed/1 Bath—$1000—Details
West Garfield Park—3835 W. LEXINGTON—4 Bed/1 Bath—$1150—Details

West Pullman—11751 S. Lowe—4 Bed/1 Bath—$995—Details
West Pullman—11751 S. Lowe—4 Bed/1 Bath—$995—Details
West Pullman—12314 S. Wentworth—4 Bed/2 Bath—$1750—Details

Woodlawn—6513 S. Rhodes—2 Bed/1 Bath—$1100—Details
Woodlawn—6023 S. KING—3 Bed/2 Bath—$1300—Details

The data relating to real estate for sale and for rent on this web site comes
in part from the Broker Reciprocity Program of Midwest Real Estate
Data, LLC.

The broker providing these data believes them to be correct, but advises
interested parties to confirm them before relying on them in a purchase or rental decision.

—————————————————————————–
If you would like to schedule a showing appointment,
please send me an email: mark@markkillion.com
You can also TEXT me at 773-354-6693.

If you are an owner, and you would like to purchase an
investment property, or you need to rent out one of your units,
please send me an email: mark@markkillion.com
You can also TEXT me at 773-354-6693.

Until the next time,

Mark Killion
Real Estate Broker
Kale Realty
2447 N. Ashland
Chicago, IL 60614
Cell: 773-354-6693
Fax: 773-904-0044

p.s. The quickest way to reach me
is by text message @ 773-354-6693.

Send me a note!

Visit me online: www.773property.com

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Keywords:
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Chicago Investment Properties

Chicago Investment Properties

Chicago Investment Properties

Until the next time,

Mark Killion
Kale Realty
Chicago, IL

Send me a note!

Visit me online: www.773property.com

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Posted in Chicago, Chicago Real Estate, commercial real estate, Investment properties, Investment Property | Comments Off

New developments in Hyde Park Chicago

Hyde Park Mobil Gas Station being demolished

Hyde Park Mobil Gas Station being demolished

The Mobil gas station and car wash on 53rd Street is currently being demolished.
The gas station has been on 53rd street for many years. It is being demolished to
make way for a new 13 story residential and retail building! The new building will
be named Vue53. Construction is set to begin early 2014.

Hyde Park Village Foods Site of new Whole Foods

Hyde Park Village Foods Site of new Whole Foods

Rumor has it that a new Whole Foods grocery store is coming to Hyde Park.
It will be at the site of the old Village Foods grocery store on 51st and Lake Park.
There will also probably be a large apartment complex built near the same location.

The new Harper Square development was completed earlier this year.
53rd and Lake Park looks totally different than it did a couple of years ago.
53rd and Harper is looking good too. One of these days, I will have to catch
a movie at the new and improved Hyde Park Theater!

LA Fitness in Hyde Park Chicago at Harper Court

LA Fitness in Hyde Park Chicago at Harper Court

Theater in Hyde Park Chicago

Theater in Hyde Park Chicago

Until the next time,

Mark Killion
Kale Realty
Chicago, IL

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Visit me online: www.773property.com

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Chicago Single Family Home Rentals

House Made of Money

House Made of Money

Here is a great article that I wanted to share with you.
It talks about the opportunity for investors to realize
high cap rates with single family home rentals:

Chicago Tribune Article

Also, I know of a portfolio of 8 single family homes
available on the south side. They are all rented out
and they are grossing $15K each. The taxes are low,
and at an asking price of $520K, you are looking at cap
rates between 13% and 15%!

Also, if you are just looking to pick up one or two properties
to start your portfolio, I can assist you with that as well.
You can get a brick single family home, with 3 bedrooms,
already rented out for $1,250 per month.
Those will run about $90K per house. And, these are turn-key
investments!

Until the next time,

Mark Killion
Kale Realty
542 W. Roosevelt Rd.
Chicago, IL 60607

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Visit me online: www.773property.com

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Chicago Cap Rates for Single Family Home Rentals

Chicago Single Family Home Rental

Chicago Single Family Home Rental

I recently read that Chicago Cap Rates for Single Family
Homes average about 7%.
This may be true when you look at the city as a whole.
But cap rates vary greatly by neighborhood.
Cap rates can be 5% downtown and 15% in some areas on the South Side.
Cap rates in many parts of the city are much higher than the
quoted 7% average.
In areas that are experiencing appreciation, the cap rates will be lower.
In areas where appreciation is flat, but rental demand is high,
the cap rates are 10+.

For example, a single family home was purchased in the South
Shore neighborhood, on 72nd and Luella, in 2011 for $60,000.
Let’s estimate that $25,000 was spent to rehab it.
It is now renting for $1,650 per month. Your Gross annual income
is $19,800.You figure that you are spending about $7,500 per year
on taxes, water, insurance, and property management.
That gives you a Net Income of $12,300 per year.
When we divide $12,300 by $85,000, we arrive at an attractive
cap rate of 14.5%. That is double the average stated cap rate for Chicago.

If any investors out there are interested in learning more about investing
on the South side of Chicago, please let me know.

Until the next time,

Mark Killion
Kale Realty
542 W. Roosevelt Rd.
Chicago, IL 60607

Send me a note!

Visit me online: www.773property.com

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Posted in Chicago Real Estate, Home Values, Investment properties, Investment Property, real estate analysis, rentals | Tagged , , , , | Comments Off

Chicago Investment Property – 12 Unit Apartment Building

Chicago Apartment Building For Sale

Chicago Apartment Building For Sale

Hello to all my blog readers out there. Today I want to take a look at a
Chicago Multi-Family property that is currently on the market. This
property is near 48th and Archer. It is listed by Eliseo Guzman , RE/MAX United.

I think that this property would make a nice addition to your portfolio.
But, we won’t know for sure until we run the numbers.
This 12 unit property is listed at $800,000. 10 units have 2 bedrooms and
1 bathroom.
The other two units are one bed/one bath. This property has been on the
market for almost 2 months. The gross scheduled income is $118,200.
This is a good location. It is close to Midway airport, public transportation,
and the I-55 expressway.
Let’s take a look at our key metrics:

Asking Price: $800,000
Gross Rent Income (GRI): $118,200
Gross Rent Multiplier (GRM): 6.77
Net Operating Income (NOI): $73,415
Cap Rate: 9.2%
Cap Rate at 92% of Asking Price: 10%
Number of Units: 12
Price per unit: About $66,000
Year Built: 1971

Expenses

Taxes________________________$$8,450
Repairs (7.5%)__________________$8,865
Vacancy and Collections (5%)________$5,910
Insurance_____________________$4,300
Electricity_____________________$1,150
Scavenger_____________________$3,000
Water________________________$3,000
Landscaping & Snow Removal_______$1,800
Property Management (5%)________$5,910
Pest Control___________________$1,200
Advertising______________________$600
Miscellaneous_____________________$600
=======================================
Total Expenses: $44,755

Based on my estimates, the expenses are running
at about 38% of gross rental income or $44,755.
This will give us a net operating income of $73,415.
When we divide the Net Operating Income by the asking price of $800,000,
we find that we have a cap rate of 9.2%.
If we adjust the purchase price down to 92% of asking price, we have an
attractive cap rate of 10%. Also, keep in the mind that the property
is in an ideal location, close to the airport, expressways, and public
transportation.

As you can see, the purchase price and the cap rate are inversely related.
If you want a higher cap rate, then you need to offer less for the property.
After you purchase the property, if you want to increase the cap rate, then
you need to increase the Net Operating Income. This can be done by
raising the rents, increasing non-rental income (i.e. vending machines, coin laundry, etc.),
or by reducing the expenses (improve collections, fix leaky faucets, etc.).

So at a 9% to 10% cap rate, I definitely think this property warrants further investigation.
As a buyer’s broker, I can assist you with purchasing this property or any
other multi-family property that is listed on the Chicago MLS. I am licensed to sell
real estate in the state of Illinois. Just send me your search parameters and I can
send you properties that meet your acquisition criteria. For more information, please
send an e-mail to mark@markkillion.com.

Until the next time,

Mark Killion
Kale Realty
542 W. Roosevelt Rd.
Chicago, IL 60607

Send me a note!

Visit me online: www.773property.com

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Posted in Chicago Real Estate, commercial real estate, Investment properties, Investment Property, multi-family, multi-unit, real estate analysis | Tagged , , , , , , , | Comments Off

2013 YTD Median Selling Prices

2013 YTD Median Selling Prices (Single Family Homes)

2013 YTD Median Selling Prices (Single Family Homes)

Until the next time,

Mark Killion
Kale Realty
542 W. Roosevelt Rd.
Chicago, IL 60607
24 Hour Voice Mail: 312-242-1822
Send me a note!

Visit me online: www.773property.com

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Posted in Chicago Real Estate, Douglas, Grand Boulevard, Home Values, HYDE PARK, Kenwood, Logan Square, Near West Side, real estate analysis | Tagged , , | Comments Off

Bronzeville Property Values – update May 2013

Harold Washington Statue

The real estate market is really picking up these days.
There is less inventory on the market compared to a year ago.
There are also less foreclosures on the the market.
The market is changing to a seller’s market.
Let’s take a quick look at sales in Chicago’s Bronzeville
neighborhood.
This analysis is based on sales from 01/01/2013 — 04/30/2013.

SINGLE FAMILY HOMES

16 Single Family homes were sold. The median selling price was $225,000.

CONDOS

42 condos were sold. The median selling price was $50,000.

LAND

5 vacant lots were sold. The median selling price was $15,000.

Multi-Family

2 Multi-Family properties were sold. The median selling price was $255,000.

Two to Four Units

12 properties were sold. The median selling price was $97,000.

Rentals

77 properties were rented. The median rental price was $1,325.

Hopefully you found this information useful.

Until the next time,

Mark Killion
Kale Realty
542 W. Roosevelt Rd.
Chicago, IL 60607

Send me a note!

Visit me online: www.773property.com

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