In October 5, 2020, we wrote the first part of the Beginner's Guide to Property Investment. Since the last multi-unit property listed on the market from that article sold on January 14, 2022, here is Part 2.
All but one of the multi-unit buildings in Part 1, which went off-market, were sold in 2021 or in the first month of 2022. These buildings appeared to require minimal to some renovation work.
As we look to the current market, we are seeing less multi-unit buildings under or close to $1,000,000 that could easily be renovated to then be sold or rented.
From what is currently available, here are some we think are worthwhile even though they may require some to a good amount of renovation work based on location to grocery stores and public transportation (at least one train station).
Albany Park
4533 N Kimball Ave - 3-flat brick building listed at $545k
Bucktown
2324 W Armitage Ave - 3-flat early 20th century building listed at $1.05M
1934 N Leavitt St - more brick, includes a duplex unit listed just under $1.05M
Jefferson Park
5000 N Austin Ave - 4-unit brick building with a 3-car garage listed at $699k
North Center
2415 W Warner Ave - 3-flat listed at $900k
Roscoe Village
1915 W Roscoe St - coach house goals listed at $969k