• US +13123406190 / UAE +971585591837 / IRE +353871689060 / UK +447452011211 info@chicagopropertycompany.com
Your search results

BUY TO LET


CHICAGO BUY TO LET PROPERTY

THE OPPORTUNITY

Chicago Property Company can save you time and make you money by building and managing a property portfolio to help you generate a regular income and gain financial independence.

Looking for a buy to let property in Chicago? More and more of our clients are interested in buying a property in Chicago and adding it to their property portfolio as a buy to let project. With rental properties available from circa $60,000, they are attracted by the low purchase price and very attractive NET rental yields which are 17-20% p.a. These yields are achieved because the properties are being purchased at substantially below market value, while at the same time rental demand in Chicago is very high. So, as you can see, our model works extremely well for those clients who want to buy and hold.

BUY TO LET

60% of the residential property market in Chicago is rental, which obviously offers the canny investor an excellent opportunity to build a steady source of income through above average yields.

There is a mix of private and Section 8 tenants.

Some of our properties are sourced directly with either private or Section 8 tenants already in place, or indeed ready for such a tenant. A Section 8 tenant in effect guarantees much of the rental is paid directly to the landlord.

Where we source a property for a client without a sitting tenant, we undertake to find a tenant as quickly as possible. In the meantime we will guarantee to pay the rental income until a tenant is in place. We have a project team on the ground in Chicago who will actively manage the property on our clients’ behalf, for a low monthly management fee.

THE PURCHASE PROCESS

 All property purchases are cash-only deals.

  •  Investments usually start from circa $55,000 USD with some multiple unit projects available for $200,000+, all still well below market value.
  • Choose from one of our current available properties.
  •  Alternatively, decide the level of investment you wish to make and we will source a project to meet your requirements.
  •  This investment amount will be structured to include all closing costs and any upgrade work which may be required.
  •  There is a $2,000 deposit payment required to do this. This is commonly known as earnest money and is a sign of your commitment to the process.
  •  Once we have the property sourced, a financial illustration will be supplied to you based on the subject property – this outlines the key financial facts of the subject property, including the expected yields.
  •  Once you are happy with the information provided, a legal sales contract is issued. This needs to be signed, dated and returned ASAP, as these contracts are normally only valid for a period of 72 hours. A Rental Management contract will also be drawn up and signed.
  •  Your funds, (less your $2,000 deposit), will then be wired to our client account (Euro or USD), the Title insurance company and/or independent lawyer’s escrow account. Extra fees are incurred for use of Escrow account.
  •  Each deal will be closed within 10 – 14 business days and deeds are issued.
    Deeds are then recorded by the Title company in the Courts to reflect the new ownership. This can take anywhere between 2 weeks and 3 months.
  •  Any remedial/upgrade work which may be required will be immediately carried out to exact standards.

Compare Listings