Episode 46: Why Invest in Smaller Multifamily Properties in the North and Northwest Suburbs of Cook County - Anthony Citriglia

39:53
 
Share
 

Manage episode 284152081 series 2685175
By Mark Ainley and Tom Shallcross and Straight Up Chicago Investor. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

Chicagoland is an enormous market with a ton of sub markets. Anthony Citriglia of Essex Realty’s submarket covers many of the near north and near northwest suburbs and he breaks down exactly what those markets are like; how they differ from Chicago; and how they differ from each other. Following the post-war boom, cheaper access to cars, and the development of several Metra lines, the 50s-80s were filled with tons of development, mostly still currently owned by mom & pop landlords. Find out what it takes to succeed in these markets as Anthony drops street-level knowledge including typical price-per door, dividing lines where this pricing adjusts, tenant expectations, and the physical housing stock.

If you want to improve your own tenant performance, give GC Realty a call and visit our website at https://www.gcrealtyinc.com/

Connect with Mark and Tom: StraightUpChicagoInvestor.com

Email the Show: StraightUpChicagoInvestor@gmail.com

Guest: Anthony Citriglia of Essex Realty Group

Link: Brian Kochendorfer Link: Brian Karmowski Link: Kevin Cawley - Senior Account Executive - Cost Segregation Services, Inc.

-----------------

Guest Questions

Landlord tip of the week 3:00

What markets do you focus on? 6:30

What is the market environment in Niles? 7:25

Is there a difference whether you’re on the East or West side of Milwaukee in Niles? 8:30

How do property taxes change when you jump over the city limits? 9:35

When someone says they want to invest, how do you answer that? 11:00

How are prices different between Niles and Skokie? 11:50

What is the opportunity like in Evanston compared to Skokie? 14:45

What is the housing stock in the north suburbs? 15:30

What is something people should be aware of when investing in the north suburbs? 16:10

How does the northwest market differ from the north suburbs? 17:45

What is the housing stock like of the near northwest suburbs? 21:35

How important is it to be close to the NW metra line? 21:55

Is there opportunity for deals in the NW suburbs? 23:20

What are some problems buyers are seeing when properties are under contract? 29:30

What is a california style building and how do those trade? 32:50

Wrap Up Questions

What is your competitive advantage? 33:40

What is one piece of advice you'd give a new investor? 34:25

What do you do for fun? 35:00

Who would you recommend and a quality resource? 36:05

How can we learn more about you? 37:12

Thanks so much for listening. Please share this with a friend and leave us a 5 star review.

Thank you so much for listening. As always, we’re here to help YOU. If you want to make the most of your investment, connect with us at https://www.gcrealtyinc.com/.

-----------------

Production House: Flint Stone Media

Copyright of Straight Up Chicago Investor 2021.

79 episodes