Posted by Chris(Indiana) on July 22, 2003 at 19:54:57:
Depending on the numbers you may have a nice property that you can do something with. I am not an experienced in investor in Chicago but if you are talking about Lincoln Park(instead of Lincoln Square) then that is a hot area where people are always looking to move to. Especially with a garage. Geesh you could get a pretty penny for the garage alone! I think a lease option is viable in that area but continue to do your homework…good luck.
c
Lease w/ option in Chicago - Posted by steve
Posted by steve on July 22, 2003 at 13:41:02:
Here is the scoop:
A friend of mine who lives in Chicago is being relocated back to Cincinnati. He has to move pretty fast but does not want to sell his condo
We have decided to split the property and lease it.
My question…
Are lease option’s in Chicago a viable option?
I mean the housing market is just ridiculous up there.
Do you think we will have problems leasing out in Chicago?
The property is located in Linclon Square.
2 bedroom
2 full bath
basement
FP
1 Car Garage
Only 4 years old
I am looking for experienced Chicago investors who might give me some insight into the market in the area and what I might be able to lease it out for per month.
What is the going rate for downpayment?
Thanks in advance
Steve