The plans are to replace the existing 2-unit structure with a new single-family home. Built on a 138 foot deep lot, the home will feature 5-bedrooms, 3.5 baths, a full finished basement and big back yard.

Residential real estate developers in Chicago are busy building new construction houses and condos throughout city. The market for tear-down houses and vacant land in Chicago is very competitive in some areas.

When is the best time of the year to sell real estate in Chicago?  The answer is anytime, especially in a seller's market.  Every year, sellers go through the same process of trying to time the sale of their houses, condos and income properties.  Historically, the spring and early summer months have been the prime seasons for selling and they still tend to be.  However, there are few fundamental reasons for this tradition to hold, notwithstanding the weather.

When the Chicago real estate market is in high gear, it's common for Sellers to initially price less aggressively at the beginning of the cycle and over aggressively as the cycle matures, just prior to flattening out or declining.

Hard money loans for the acquisition and renovation of residential and commercial investment property allow many real estate investors to move quickly with fewer lender restrictions in a competitive market. 

So, you've decided to sell your property and you want top dollar.  Sounds pretty fair.  As the owner and now seller, you've come to realize that the property is never going to be perfect, there is always something that needs to be fixed or replaced and you have little control over how the tenants maintain their apartments.  These could be reasons why you want to sell in the first place. 

Some essential research websites for Chicago real estate investors:

Cook County Assessor

Cook County Treasurer

When it comes to selling multifamily investment property, it's easy to formulate pricing strategies that reflect our personal needs and not what the market is willing to bear. There is always a magic number but how does one come to it.