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Stole This Lake View Property: 3047 N. Ashland, Chicago

In the ebb and flow of daily activity, there are those little 'missed opportunities'.  For many real estate investors, it seems that yesterday was another one of those occurrences.  The property at 3047 N. Ashland was listed by Michael Sorenson and didn't sell.  Granted, it was not appealing to the typical 2 flat buyer because the property rehab had started and then abruptly stopped.  Nonetheless, that astute buyer swooped in and picked this one up for $130,000 at the Cook County foreclosure auctions.

3047 Ashland

AND there were no building violations of public record. Photo courtesy of Assessor.

The lot was listed at 25 x 103...or approx 2,500 square feet.  The zoning is B3-2...or approximately 5,000 square feet can be built on the site....future tear-down possibility.

Granted, Zillow.com only indicates $200k for the value, but that is as a run-down real estate rental building.

 

Once again, it seems that those who have fewer 'missed opportunities' have strong market knowledge, superior analysis / analytical tools and better support to make quick decisions.

Michael Hobbs

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