Anyone looking for an investmnt opportunity? I'm looking at an empty twin plot with 6 condo plan in Chicago. We'd split this 6 ways. 1 parking, ~2000SqFt, ~$450k-650k after construction. CONT

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45 min El ride downtown.
A safe neighborhood. 2/3/4 Bedroom possible. Duplex or simplex depending on your budget. After construction valuation at ~$600k-850k so instant equity. The plot is 50 ft wide and east facing so all 6 units are extra wide. We would get a lawyer to write up contracts and construction would start after construction loans/cash approved. I'm not a builder and this is my first real estate purchase and plan to live here and I'm putting 20% down. The proprty comes with plans but we can pick an architecture plan that works for everyone and you'd be able to get custom upgrades and pick your appliances. We'd pick a mutual experienced general contractor too. Construction timeline would be 1 YEAR. You're saving money that the builder and realtor build into the final cost. Everything else would be pretty standard. The construction loanl becomes regular mortgage at delivery.

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I'm curious as to how you came up with that valuation. 600 to 850k seems a little high IMO

What neighborhood ?

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Irving Park, 10 minutes from Brown. 45 minutes downtown.

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