property analysis emerging neighborhood investment 2

You had a successful 2018 at the Positive Returns Group. The insights and recommendations you provided for Highest & Best Use as well as your NNN Investments have yielded the firm big profits. The partners at PRG have rewarded you for this work with a $150,000 bonus!

You have decided to invest in a Chicago neighborhood that presents opportunity for real long- term value growth. You must consider the following 6 criteria to make this value investment decision based upon the following criteria:

  1. Purchase Price vs. Comparable Properties / Market Values
  2. Externalities Providing Perceived Value
  3. Commercial Investments in the Neighborhood
  4. Governmental Investments in the Neighborhood
  5. Transit Options
  6. Demographic Profile

After an extensive search of some of Chicago’s most exciting up-and-coming neighborhoods you have zeroed in on two properties. One located in western Bucktown and the other located in West Town.

  1. 2442 W Homer St. – “Homer Home Run” (Bucktown)
  2. 2055 W Ohio St. – “West Town Wonder” (West Town)

You must decide if you want to buy 2442 W Homer. This property presents the opportunity to either rent the property as-is to a tenant OR utilize additional loan proceeds to renovate the home and to make it your own. The other investment – 2055 W Ohio – is move-in ready and presents a perfect home for you and your family.

Please make the following calculations to determine the capital needs of each investment scenario.

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