Don Wenzel, vice president
of the S Group, which converted the 2027 - 2029 W. Pierce
building, said that the next step for Wicker Park would be new construction on a
number of vacant lots that still remain in the area.
«Red flags include things like a new highway being
built [in close proximity to the house], an increased
number of short sales, foreclosures and
vacant properties, but even the
number of rentals in an area can be cause for concern,» says Lisa Frushone, a Pennsylvania real estate agent.
Looking at listing may not need full rehab, new roof and water heater done, 3br in neighbor run 900 to 1000, rehab for low maintenance, try to buy as low as you can, look at comps, probably could go in as low as 38 - 42 with good agent and stress as is, maybe a few agents here to help, get one to give you good
numbers not listing agent
numbers, street is a nice one for area, not much back yard or parking but nice front, before you close make sure
vacant contingent, if
numbers work I would do it, the are predicting an abundance
of rentals avail next year with
building craze but keeping expense low you should be safe, remember don't rehab as if you are living there, think durable and repaintable,
number should go into systems and structure first, elect, heat, walls, windows, floors, plumbing, if you use a contractor go with one you know or work with someone in area to keep an eye on progress, good luck at least you know some
of the history
of the property
However, with the delivery
of three new office
buildings totaling 1.6 million sq. ft.
of vacant space in the first quarter — Phipps Tower and 3630 Peachtree in Buckhead, and 1075 Peachtree in Midtown — overall vacancy rates continued to rise despite the positive absorption
numbers.