tag:blogger.com,1999:blog-19730096.post5253749088075443771..comments2024-03-25T17:50:47.567-05:00Comments on The Chicago Real Estate Local: Lake View two-flat sales in 2011 up 46%: 21% are distressed salesEric Rojashttp://www.blogger.com/profile/06594615531143494177noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-19730096.post-77336708311658295132011-12-28T13:29:39.022-06:002011-12-28T13:29:39.022-06:00Great question.
We've been writing here about...Great question.<br /><br />We've been writing here about many gut rehabs and new construction for retail sale. This type of speculation is making money again due to lower purchase prices by professional developers.<br /><br />Some are pretty obvious when we know the developer who is the purchaser for cash etc.. (we know some of these for sure). <br /><br />Others are more speculative and they could be purchased to tear down or convert to single family homes if the market conditions are good. Some purchase with the intent to convert to single family homes, but hold as two flat rentals.<br /><br />We'll never know for sure on the exact numbers, but we do watch these things in our target neighborhoods. I watch it close for my buyers clients because some of these homes don't make it to the MLS before they are sold.<br /><br />There is a trend of people buying and keeping properties as two flats because the numbers make good sense for smart property buyers. The live-in owner/ operator is becoming more common again due to affordability.Eric Rojashttps://www.blogger.com/profile/06594615531143494177noreply@blogger.comtag:blogger.com,1999:blog-19730096.post-40703053626636250962011-12-16T09:41:16.579-06:002011-12-16T09:41:16.579-06:00I would be interested in knowing how many of these...I would be interested in knowing how many of these two flats were purchased by developers for new construction development and how many will be maintained as two flats.Anonymousnoreply@blogger.com