Chicago lots for $1

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jacob
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Chicago lots for $1

Post by jacob » Tue Nov 29, 2016 12:04 pm

Detroit is coming to Chicago ...

http://www.chicagotribune.com/business/ ... story.html

If you don't mind the occasional rain of bullets.

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Riggerjack
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Re: Chicago lots for $1

Post by Riggerjack » Tue Nov 29, 2016 9:35 pm

Sounds like it would work. The "must own property on the same block" restriction is probably a good rule.

Any chance you can get one?

jacob
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Re: Chicago lots for $1

Post by jacob » Wed Nov 30, 2016 9:25 am

I'm not nearly brave enough/prefer a bullet free environment. However, houses in those areas sell for ~$75k and multiunits go for $100-150k.

inchicago
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Re: Chicago lots for $1

Post by inchicago » Sun Jan 01, 2017 10:31 pm

I think this idea is a good one since it cuts down on vacant lots and raises additional tax monies for the city. (The current plan of shutting off different street lights to save a buck has been very annoying.) I am not personally planning on investing in one of these, although I have met several investors in these areas and they seem to do well. The investor really needs to know what they are getting into and have the right connections or it's a losing scenario. My father was telling me recently that my grandparents used to live in Englewood. This was of course probably in the 30s, 40s or so. They said it was a prime neighborhood, really nice.

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