Thursday, January 28, 2016

West Side Blogger: With Another $3.5M Sale, Investors Double Down on South Shore Real Estate

Photo by DNAinfo/Sam Cholke
Bill Barr took note of a recent DNA Info article on the investment of a real estate company into the south side's South Shore neighborhood:
Out-of-state investors have increased their bet on housing in South Shore, buying three more buildings and spending a total of $13 million to buy seven properties in one month.

Broker Jeff Baasch of Sperry Van Ness said Wednesday that a group of Florida-based investors have paid nearly $3.5 million to purchase 136 units across three buildings near the Jackson Highlands area of South Shore.

In early December, the same group paid $9.5 million for four buildings, also near the Jackson Highlands.

Baasch said the new buildings, 6750 S. Merill Ave. and 6952 S. Paxton Ave., will be renovated. He said a vacant building at 7270 S. South Shore Drive will get a major overhaul.
Baar's comments I somewhat agree but what do you all think?
Get rid of the gangs and crime and South Shore would thrive. Some of the best views of Chicago can be had from the classic apartment buildings accross form Jackson Park along 67th street, while excellent transportation to the loop from Metra's (Illinois Central) trains on 71st. Someone sees the opportunities.

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