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Old 03-17-2010, 01:49 PM
 
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Have any of you owned any? if so, do you have any memorable experiences? care to share? thanks.

Also, for those of you in the know, which areas of south side would you be most willing to own an apartment building? list your top 3-5 if you can.

thanks
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Old 03-17-2010, 03:15 PM
 
Location: alt reality
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I don't own one but grew up in a 2-flat in South Shore. All you need to know is to never rent to friends and family. Its best to have separate utilities in place too. I considered buying one when I was looking but they were still asking ridiculous prices so I went with a sfh. Now you can buy one anywhere on the southside for $2.
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Old 03-17-2010, 08:05 PM
 
Location: Suburbs of Chicago
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Quote:
Originally Posted by ParkerP View Post
I don't own one but grew up in a 2-flat in South Shore. All you need to know is to never rent to friends and family. Its best to have separate utilities in place too. I considered buying one when I was looking but they were still asking ridiculous prices so I went with a sfh. Now you can buy one anywhere on the southside for $2.
Yeah, at one time South Shore was the place to be if you were middle income. Now, not so much.

Anywho, I would definitely advise to avoid renting from family and friends, there will often be verbal contracts you or they may forget or blur the lines to. I remember someone I know had a building on the south side, and the tenants had fun seeing who had more roaches than the other. At least that's what I'd think if you never reported a pest problem. I mean, -why- wouldn't you? *scratches head*
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Old 03-17-2010, 09:03 PM
 
Location: alt reality
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Quote:
Originally Posted by deechee View Post
Yeah, at one time South Shore was the place to be if you were middle income. Now, not so much.

Anywho, I would definitely advise to avoid renting from family and friends, there will often be verbal contracts you or they may forget or blur the lines to. I remember someone I know had a building on the south side, and the tenants had fun seeing who had more roaches than the other. At least that's what I'd think if you never reported a pest problem. I mean, -why- wouldn't you? *scratches head*
Its funny how the multi-units in South Shore are sooo tiny though. I don't know how my parents fit their bedroom set into their room, lol. Woodlawn and Bronzeville have those nice greystone units with the long hallways so it at least "feels" like you have more space.

Oh yeah OP, you can check out the above mentioned areas. There are tons of multi-unit foreclosures out here now.
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Old 03-18-2010, 12:15 AM
 
Location: Suburbs of Chicago
1,070 posts, read 2,906,916 times
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Quote:
Originally Posted by ParkerP View Post
Its funny how the multi-units in South Shore are sooo tiny though. I don't know how my parents fit their bedroom set into their room, lol. Woodlawn and Bronzeville have those nice greystone units with the long hallways so it at least "feels" like you have more space.

Oh yeah OP, you can check out the above mentioned areas. There are tons of multi-unit foreclosures out here now.
Lol, I haven't been in many of those buildings, but I do know what you mean by the long hallway thing. I kinda chuckle when I see that

The hallway isn't living space! Yes, I'd check out some of those foreclosures out there. I just hope I don't have to live in it first lol. Maybe after I fix it up. But before I'd rent it out, I'd have some tight guidelines for living there!
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