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This property's rent is partly or wholly paid by the U.S. Federal Government through HUD Section 8.
The rent of Section 8 properties is usually exceptionally stable.
All financial statements of property yield are best estimates based on current conditions, and can change at any time.
We are targeting the above equity multiple for investors; however, no assurance can be given that you will obtain any return on investment, and there is a risk that you can lose your entire investment.
This is RealT’s 100th property, and we couldn’t be prouder! 4852-4854 W Cortez is actually two adjacent multi-family buildings — both beautiful brick, both fully rented, and almost entirely Section 8, making the rent exceptionally stable. Cortez requires no up-front renovations, and the cap rate is truly exceptional for a Chicago property, especially one in such excellent condition.
Cortez is special for another reason, too. We purchased Cortez from an owner-operator who was deeply involved in nurturing the property and hand-picking the tenants. He built a close working relationship with the Section 8 authority in Chicago to ensure that his properties were built for long-term tenancy. We intend to build on this foundation of trust and stewardship, while working to enhance an already-attractive return on investment. This property promises enormous opportunity in a stable, beautiful package!