Sunday, February 14, 2010

Special Report- Chatham is still the community of choice for housing

This report is brought to us by Marki Lemon a real estate professional with expertise in selling properties in Chatham.

Time can bring about a change. Chatham a community on the south side of Chicago has long been home to middle and upper income professionals. The streets are tree lined and the lawns are well maintained. As a child I would often run and play up and down streets in Chatham because my family has resided there since 1964. I remember when Kham and Nate’s were located on the corner of 87th and Cottage Grove or we would go to the movie theatre on 79th and Saint Lawrence.

A lot has changed throughout the years except for one thing; Chatham is still a community of choice for middle and upper income bracket professionals. With the surge in foreclosure Chatham appears to be on SALE. Yes, there are discounts to be had in this stable community but, more important sweat equity can prove to be profitable.

Chatham is comprised of two zip codes parts of 60619 and 60620. In 60619 there are currently 558 NOD (Notice of Defaults Filed) and 547 NOD filings in 60620. Properties have sold for as little as $5,600 and as high as $289,000. Frank Montro has managed to be a leading force in insuring ARV (after repair value) exists in this community. A prime example is 732 East 88th Street that was purchased for $25,000 in September 2009 and now graces the MLS at $182,500 fully rehabbed and ready to move in or 8534 S. Saint Lawrence that was purchased for $52,000 and resold completely rehabbed for $176,000. Chatham is one of the few communities were you can have it all and not break the bank.

Sample 60619 NOD

Sample 60620 NOD

Chatham Community Area 44

City of Chicago Chatham Map

Marki D. Lemons

Speaker, Trainer & Consultant of Short Sales, Foreclosures & Social Business


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