Multi-unit buildings are ‘back in the game’

Multi-units are back in the game and many long time owners have the ability to sell for market or below prices. Although we like the affordability of the owner/operator option of the multi-unit for first time buyers, many experienced buyers are still converting the two and three flat buildings into single family dream homes for themselves. This can be done under the top price thresholds for comparable single family homes in the neighborhood, leaving them with not only a wonderful home but also a good investment. Just walk the Lincoln Square community area and you will see contractors busy converting homes today.

– Realtor Eric Rojas, in a recent post at Chicago Real Estate Local on the rising prices of multi-unit buildings in Lincoln Square. The median price of a Lincoln Square multi-family rose by 24% from 2009 to 2010, he reports.

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