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:
- Purchase Price vs. Comparable Properties / Market Values
- Externalities Providing Perceived Value
- Commercial Investments in the Neighborhood
- Governmental Investments in the Neighborhood
- Transit Options
- 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.
- 2442 W Homer St. – “Homer Home Run” (Bucktown)
- 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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