Do You Have Vision? 5919 S. Calumet in Washington Park
Just in time for the Olympics. This 10-bedroom brownstone mansion at 5919 S. Calumet awaits someone with vision.
The listing says it needs a complete gut rehab. It used to be a single family home and then was converted into 4-units.
Marki Lemons at Rubloff has the listing. See more pictures and a virtual tour here.
See the property website here.
5919 S. Calumet: 10 bedrooms, 5 baths, no square footage listed, 4 car parking
- Sold in February 1989 for $30,000
- Currently listed for $189,500
- Taxes of $4915
- No central air
- 3 fireplaces
Superb playground.
The thing has been run further into teh ground since the last sale, yet it still appreciated by ~9.5%/year? Really? Sems like ~$60k might be more realistic, given the poor condition.
190k for a haunted house in the ghetto? I don’t even know what to say to this one.
Cities are living things. Not that long ago–less than 100 years–this was the home of someone very wealthy, in a prosperous neighborhood. Now look at it. It sometimes makes me wonder what the Gold Coast and Lincoln Park will look like 100 years from now.
Won’t look like this, that’s for sure. Unless a meteor hits the lake or something and washes all the rich people away from the north side.
ALso Im sure its $189k thanks to section 8 rules, This would be a cash cow of $3200 a month gross for ya if you had 4 tenants. So you think 37.8k down, you got a 151200 mortgage. Put 100k of work into this place and you got $3200 a month – 409 taxes – 834 mortgage – 800 for 100k loan, and that leaves you with $1157 a month to buy an armor plated hummer to cruise around the hood looking for more deals.
There is no way you could get $800/mo per unit on these in this neighborhood. No way in hell. Not even the two 3-BRs; certainly not the 2 2-BR’s.
Sonies- You are forgetting the armed bodyguard you’ll need at the beginning of every month to collect rent from your tenants. For 180k you can get a distressed MF in Kenwood, that needs less work down and has higher rent prices because it’s closer to the lake/downtown. When I was at UChi, I lived in a 3 BD with 2 roomates and we paid $300 each in hyde park. I doubt you’ll get (decent) tenants in that area for $800/month.
“There is no way you could get $800/mo per unit on these in this neighborhood. No way in hell. Not even the two 3-BRs; certainly not the 2 2-BR’s.”
As Section 8 family housing? Really? I thought that was one of teh problems with the program–they used too broad an area for comparable rent, and so slumlords get rich with crappy housing.
And, Section 8 is, of course, the answer to rent collection issues on properties like this–you get your check from HUD (or at least most of it), so you’re not chasing someone who might take a swing at you.
How much would a rehab be on a place like this?
“How much would a rehab be on a place like this?”
What do you want to turn it into? You’ve got Sonies saying $100k to bring it back to 4 habitable units (probably could do it for less, if you did some of the work yourself) and you could easily spend $100+/ft (i.e., about new construction cost) to do it reasonably right as a SFR. If you were trying to bring it back to original “glory” (with modern conveniences, of course), I wouldn’t be surprised by $200+/ft, esp. b/c it looks like there’s a water issue.
@ Ken “There is no way you could get $800/mo per unit on these in this neighborhood. No way in hell. Not even the two 3-BRs; certainly not the 2 2-BR’s.”
Section 8, read up on it if you don’t believe me… which leads me to answer
@ Lauren’s “You are forgetting the armed bodyguard you’ll need at the beginning of every month to collect rent from your tenants.”
No, you can sit in your home and wait for the HUD checks to come in the mail. Don’t listen to me if you want, but I speaketh the truth.
Dunno, anon (tfo), maybe you are right re: Section 8. Like Lauren, I’m comparing it to rents in Hyde Park 4 blocks east. For instance, in my building, there is exactly one rental unit. Two bedroom/1 bath, gleaming hardwood floors, quite spacious with separate dining room and lots of closets, new kitchen, new wiring, tin ceilings, etc. We rented it out for $1200 a month and considered ourselves *very* lucky. I just can’t imagine getting $800 for a 2 br/1 ba in “rental apartment” condition in that neighborhood.
Does anybody really think that the Olympics will transform Washington Park and the surrounding S. Side neighborhoods into a desirable location? I highly doubht it. An investor probably stands a better chance gaining a return on investment (with the Olympics in mind) by purchasing a condo in the Gold Coast or in Streeterville to rent to the influx of tourists that will come in for the Olympics than to purchase Real Estate in Washington Park with the hopes of appreciation and/or the income that will come with renting the property.
– Thank you Sabrina, now you know what I’m talking about. A big old house with a yard comprised of vacant lots, near the lake and U of C….and public trans…although the price is a tad high I’m sure it is negotiable…
– Section 8 is a deal with the devil. If I paid a management company to handle my section 8 rentals then maybe I could do it; if I as an individual landlord had to do section I would rather blow my brains out. Dealing with that nightmare isn’t worth the couple of hundred bucks a month.
– Someday the south will rise again, I just don’t know when. And if we use detroit or cleveland is an example of what happens to blight, these neighborhoods ain’t ever coming back absent massive government intervention.
HP is not comparable to WP in terms of rentals. HP will always have a transient population with money (UC students), WP will never have this population.
That being said there is wide variability in HP. The best places will be closer to campus and these will command premium rents. Heck I used to rent a studio in north Woodlawn for $620/month which is probably double the asking rent for a few blocks south.
Location is key and this is not a good location. I don’t care if it did used to be a prime locale 100 years ago. Its ghettoville today.
Want to know whether you’re in ghettoville or not? Go to fill up your tank at the nearest gas station. If you get hassled, have your windshield cleaned by a stranger or hit up for cash during the brief period you’re filling up your car, you’re in ghettoville.
Its too bad there can’t be full service gas stations in these areas to minimize interactions with informal gas station ‘attendants’.
Sonies,
You have to collect the tenant portion of the section 8 payment. For example, rent is $1,000. HUD paids $800 and the tenant is suppoed to pay $200 (which they rarely if ever do).
Now let’s say that you call tenant and say, “Hey, you owe me $600 for the last 3 months of the tenant portion of the rent.” The tenant then calls 311 or CHAC, an inspector comes out and looks at your unit and says….hum…..there are some ‘code’ violations here…you have wobbily stairs. The handrail is 1/4″ too low on the stairwell…you are missing a piece of siding and the water pressure is too low. CHAC will suspend and abate your payments until these issues are resolved. Please resolve these issues and so we can send another inspector out. Then we will resume payments. I’ve seen it happen dozens and dozens of times.
and let’s say you want to evict the tenant b/c they are destroying your apartment? They go to Legal Aid and get free lawyers. They drag the case out for years, stop and abate all CHAC payments (code violation issues) and basically screw you over in every way possible. I’ve personally seen it. Section 8 is a deal withteh devil if you’re going to do it yourself.
Hell no i’m not doing it myself, that’s why I’d hire a management company to do it.
homedelete is right. Unless you have experience collecting section 8 or have a very good property manager that has handled this, it is more trouble that what it is worth. I have a huge collection of clients that own 1,000’s of units and are constantly telling me about what a hassle it is. However, Laurens early comment “190k for a haunted house in the ghetto? I don’t even know what to say to this one.” had me LMAO.
Too bad its in the ghetto though, it really would be a very beautiful house.
It is the ghetto and will remain the ghetto. It ain’t coming back. Blight is here to stay. Unless of course we somehow take over the european model where the suburbs become the ghettos and the city core is very nice…but I do’nt think it will happen in my lifetime.
Homedelete- Actually the far end of the city and the suburbs are becoming the new ghetto, slowly but surely. UChi quietly bought and vacated a couple of section 8 complexes down the street and those people now live in the suburbs like country crest and a couple others. Unfortunately that area is full of section 8 and welfare people so I doubt it will ever become an extension of hyde park. Especially considering that all incoming UChi students are strictly told to stay east of the park. There was an investigation by the Tribune, I believe, about how UChi bought into the Olympics hype and started snatching up properties/land with an alias Trust name. I still think safety comes in numbers and most people will always pay more for a safe area than save money by living in an open air drug market.
You have to love this democratic district’s foray into subsidized housing. Helping those least able to provide for themselves breed beyond their means.
It almost makes me non-sympathetic when a left leaning voter becomes a victim of crime from one of these scourges and drains on society.
The truth of the matter is few of these section 8 kids should have ever been born. Its disgraceful we reward unwed mothers who pump out babies with increased public assistance. They should have to rely on their church of community for support, or howabout their FATHERS, which is how things were before the welfare state existed. And back then their kids actually grew up with morals.
All these welfare programs are creating future generations of criminals and those unable to provide for themselves or contribute to society in any productive way.
Straight out of productive taxpayers wallets into those ruining society, thats what welfare money is.
Bob, I agree with you but I have to play devil’s advocate on this issue. Washington Park is still suffering from the aftermath of racism. Manufacturing jobs left the area and drugs came in. Racist housing rules prevented black men from following their jobs so they found themselves unemployed. Women at that time had little to no income so their unemployed husbands couldn’t lean on them for financial support. Of course that doesn’t justify drug trafficking but I can see how that one single issue turned that area into a jungle. In comes racist criminal sentencing: a white man gets caught using/selling drugs in the late 70s, he gets a slap on the hand, gets sent to rehab, does 2 weeks of community service and goes back home to his family. A black man commits the same crime, gets sent to prison for 20 years, comes home to his wife now addicted to drugs and his kids raising themselves. Instead of the goverment making amends with job training and drug rehab to justify the racist housing rules and sentencing, they start throwing welfare checks at people, which I agree was the most half-ass attempt at fixing a neighborhood, ever. Fast forward 20 years and that area still has the same mentality: who go to school and get a job, when I can just pop out a bunch of kids and be paid to stay at home?! Why work to have nice things when I can just walk over to the University and rob people at gunpoint? The government created these monsters and unfortunately it’s the taxpayers footing the bill.
What you are describing Bob is the breakdown of traditional family values, as old and stodgy as that sounds. Among a large portion of our society a traditional nuclear family is no longer an ideal to achieve or even try to live by. In fact, young single mothers and non-traditional families are something society, at least for some people, feels the need to embrace and to even celebrate. Our legal structure with laws regarding marriage and support continue to reflect this old school thinking and it causes significant societal problems when you try to super impose it upon non-traditional lifestlyes. I’m not going to venture into mu personal feelings on the subject but your thinking really represents and old school ideology whose time has long since passed. Passing judgment on those who have children outside of wedlock or engage in non-traditional lifesyles won’t make them change their ways. You may as well accept that your views are very 20th century and adapt and accept the new reality.
“Want to know whether you’re in ghettoville or not? Go to fill up your tank at the nearest gas station. If you get hassled, have your windshield cleaned by a stranger or hit up for cash during the brief period you’re filling up your car, you’re in ghettoville.”
LaSalle and North is ghettoville? I’m 2-for-2 in getting hassled there.
(Even at the nasty Citgo at Wells and Chicago the rate is only 50%.)
1. Will all of those using the word “Ghetto” look up its accurate and correct definition. Thank you as proper diction is appreciated.
2. Many of these comments are laced with racial sentiments.
Cool house: yes
Potential: yes
Ghetto: Fo sho.
I have had Section 8 tenants and was BLOWN AWAY by the high rents i was getting, especially for the area where the apartments were located. (Woodlawn, for instance, not too far from here). I had a great experience with my Section 8 tenants, always paid their rent on time, never any complaints.
I did rent to private tenants with no section 8 vouchers and i will never rent to low income people again. I got sucked into the whole building department/legal clinic nightmare and it was a COMPLETE waste of my/taxpayer time and money, as my tenants had no legitimate complaints. It still took me 8 months to have them evicted. I made money on the properties but it was NOT worth it for one second. So, maybe the government realizes the only way landlords will operate in certain areas is if the gov guarantees the rent.
It’s a messed up system, but i know there are people who can work it for sure (on both sides – landlords and tenants). South and west sides are SO cheap again that, as one of the earlier posters noted, you can make the buidlings cash flow like crazy, esp. w/ section 8
“Won’t look like this, that’s for sure. Unless a meteor hits the lake or something and washes all the rich people away from the north side”
100 years is a long time…ask Detroit.
Don’t be a smart-ass, Kadar. The meanings of words evolve and change all the time. Look up “intercourse” and “conversation” in the OED, for example.
“Racial sentiments” is so 20th century. Get over that, too.
Would there be tax abatements of some kind for rehabbing this house?
Oh boy Bob! Imagine all those low-income people running around if your republican buddies had their way with abortion. You guys are funny when you complain about public assistance yet vote against abortion. Maybe when abortion becomes illegal, you can adopt an unwanted child and help the whole system out.
Thoughts?
“It is the ghetto and will remain the ghetto. It ain’t coming back. Blight is here to stay. Unless of course we somehow take over the european model where the suburbs become the ghettos and the city core is very nice…but I do’nt think it will happen in my lifetime.”
It started about 8 years ago HD. The burbs are the new Cabrini.
“1. Will all of those using the word “Ghetto” look up its accurate and correct definition. Thank you as proper diction is appreciated.
2. Many of these comments are laced with racial sentiments.”
I would not assume that mentioning “section 8” and “low-income” as referring to racial terms. I think that may be the little racial bug inside of you 🙂 To me, “low-income” does not a have a color associated with it. “Low income” is simply a collection of people that are struggling to make ends meet.
It is funny that when we are in times like this we all can rationalize helping the victims of layoffs and hard times. But when we mention section 8, everyone refers to it as taxpayer handouts and lazy recipients. Which is it, should we help people when they are down or not?
HD:
“I’m not going to venture into mu personal feelings on the subject but your thinking really represents and old school ideology whose time has long since passed.”
We will see how long our society lasts with its exorbitant taxes and subsidizing the breeding habits and lifestyle of those unable to provide for themselves at the expense of those that are. The state of California is projected to have a 50B budget deficit over the next year and thats based on a two month old data–the deficit will be worse. Its already the most heavily taxed state in the nation–there’s no more room to raise taxes. Unfortunately (or fortunately if you’re against natural selection) for you those most unsuccessful to adapt to civilization are now subsidized to have more children. This has long term severe consequences.
StevO: I appreciate the criticism but I’m not sure where you equate me with Republican. I am all for abortion of those least able to provide for their kids. In fact I am for controlled breeding of the human race, but in a meritocratic, objective way. Lets sterilize those who score lowest on intelligence tests at age 16. Anybody with any sort of counter-argument you will find is based on ‘humanism’ which in itself is a contrived ideology.
Don’t confuse me Stevo I am an independent and pro-abortion for these people AND against public assistance for them as well. Call me radical and crazy, but really the implementation of my ideas aren’t far off in the grand scheme. You can only perpetuate and subsidize bad genes for so long. And by ‘bad genes’ I only mean those that drain resources from society as opposed to contributing to it, no racial undertones to that.
Sex offender? Sterilized first offense. Felony violent criminal? sterilized first offense. Welfare momma? Sterilized second kid if you want to keep receiving aid. Sounds fair to me.
Also, HD,
I will add that parents providing for their offspring is from time immemorial. It was only until fifty years ago our little foray into societal safety nets for ‘dependent children’ was started.
Coincidentally that was also the time urban crime and decay skyrocketed.
Sure not with all species the father provides, but with hominids that tends to be the case. If you think your grandiose ideology about government providing can supercede millions of years of evolution you are much more arrogant than I previously envisioned. I bet you believed half the BS they taught you in law school didn’t you?
Yeah sorry bud but mother nature could give a shyt less about Smith vs Van Gorkamm or Roe vs Wade or Delaware incorporation protections. You should learn about natural history before trying to comment about society because you’re really just a legal beagle with little broader context.
Bob:
‘I appreciate the criticism but I’m not sure where you equate me with Republican.’
perhaps the part where you said you had little sympathy for crime victims who happened to be democratic. maybe the rants about welfare and the ‘taxpayers’ money which make you sound like you’re to the right of Rush Limbaugh and the John Birch Society.
but it gets better:
‘I am all for abortion of those least able to provide for their kids. In fact I am for controlled breeding of the human race, but in a meritocratic, objective way.’
you’re right you’re not a republican you’re a full blown eugenicist. you certainly have a right to your views but i think they fall in around fred phelps and 9/11 truthers in terms of political or even ligitsmint discourse.
(bob talking about forced sterilizations for some):
‘And by ‘bad genes’ I only mean those that drain resources from society as opposed to contributing to it, no racial undertones to that.’
who the hell determines what these ‘bad genes’ are?
so here we have bob the nutjob railing against welfare, ‘drains on society,’ and the government safety net. at the same time he has no problem advocating for a government (i presume, who else would have the authority) forced sterilization and abortion program.
“Call me radical and crazy, but really the implementation of my ideas aren’t far off in the grand scheme. You can only perpetuate and subsidize bad genes for so long. And by ‘bad genes’ I only mean those that drain resources from society as opposed to contributing to it, no racial undertones to that.”
Bob
I find your posts very offensive and I’m sure many people in our society will agree. We don’t think you are doing a great deal of service to our society. Your rants are draining our intellectual resources. Sorry, you will be up for Sterilization. Now drop those pants.
Sincerely,
The “greater good” for society
“It is funny that when we are in times like this we all can rationalize helping the victims of layoffs and hard times. But when we mention section 8, everyone refers to it as taxpayer handouts and lazy recipients. Which is it, should we help people when they are down or not?”
The SHill advocates for taxpayer handouts on the very blog where he has recommended tax evasion.
I am not surprised.
anybody talk about housing and houses anymore?
Whoa bob, I was merely trying to say that it’s not 1950 anymore. No need to personally attack me.
It was this election cycle that really made me realize that the GOP and its old school image of family values, sustinence, hard work and responsibility and pro-business is so last century. In my opinion the GOP tries to represent ideals that a majority of people no longer buy into too.
The democratic platform of inclusiveness, environment, generous goverment assistence, anti-business pro-union, goverment can help everyone platform is what the 21st century is all about. In short its Joe the Plumber vs. the “Obama is going to pay my mortgage” lady and Joe lost.
It’s a bitter pill to swallow, I know, I know, I’m having difficultly dealing with it myself.
“Yeah sorry bud but mother nature could give a shyt less about Smith vs Van Gorkamm or Roe vs Wade or Delaware incorporation protections. You should learn about natural history before trying to comment about society because you’re really just a legal beagle with little broader context.”
But to follow up on my last comment neither does a good job of following through with the party platform after the election … I’m not trying to turn this into a dems v. repubs debate, I’m just saying that times are a changin’.
Back to housing
Yes- can we please talk about housing? This is not a political blog- there are plenty of those if you want to continue the discussion.
Did anyone else see the stat in the WSJ about jumbo loan default rates?
6.9% of prime jumbo loans are now 90 days or longer in default (as of December.)
2 men were found slain in an apartment 8 blocks away from this house last night. Enough said
I saw that article Sabrina. I don’t know if that stat is telling the whole story though. Much of the non-conforming jumbo financing and the stated income/stated asset specuvestor specials were one in the same.
None of my legitimate jumbo clients are having any problems. However, I get quite a few calls from flippers & specuvestors with jumbo loans looking for a way out and they are stuck since no one will touch their deals with a 10 foot pole.
“2 men were found slain in an apartment 8 blocks away from this house last night. Enough said”
8 blocks is a mile, that’s pretty far 🙂
8 blocks from the heart of lincoln park you can find Cabrini Green.
Sonies comments at 3:27 and 3:33 are hilarious. Please let’s have more Sonies comments.
Kadar: “Will all of those using the word “Ghetto” look up its accurate and correct definition. Thank you as proper diction is appreciated.”
Okay, I will. Done–the result is: Definition 2 from Merriam-Webster: “a quarter of a city in which members of a minority group live especially because of social, legal, or economic pressure”. Criticize the use of “ghetto = undesireable” as racist, but don’t call it incorrect as applied to the south or west side of Chicago. It is a correct word choice on its face.
Further, if you accept colloquial usage (as you should, especially on the intertubez), the first defintion in Urban Dictionary (yeah, I’d rather use a real slang dictionary, but they ain’t online) is: “an impoverished, neglected, or otherwise disadvantaged residential area of a city, usually troubled by a disproportionately large amount of crime” which is *exactly* the way “ghetto” was being used and such definition diminshes (but doesn’t eliminate, duh!) any racial overtones.
sonies- the difference is that shootings within a mile radius occur on a regular basis in washington park. To each its own but I would take a small, expensive unit in a good neighborhood than that giant mansion in the middle of the “hood”. I guess “ghetto”(a thickly populated slum area, inhabited predominantly by members of an ethnic or other minority group, often as a result of social or economic restrictions) is apparently no longer the correct word to describe that area.
Sonies original plan is sound.
Many people project their values (sic ideals) onto other they could not possibly understand.
$800 for 2 or 3 bedroom with ONE bath in this neighborhood would not be that far off the mark.
If you knew what some people are paying to live in these post-Katrina like neighborhood conditions, you would be rocked to the core.
jump on craigslist any day and you will find that housing in bronzeville and a bit beyond, does not differ greatly from Wicker Park/ Bucktown. I makes no Godly sense, but it is a reality.
Not many people would open a fruit and vegetable stand in the “ghetto”, but if you knew that many on the south and west side of town end up paying 99 cents per banana at their local gas station, you might consider it.
Just saying
this post sequence made me laugh:
Kadar at 9:22 pm
…2. Many of these comments are laced with racial sentiments….
JCL at 9:40 pm
Cool house: yes
Potential: yes
Ghetto: Fo sho.
Why are rents the same? Risk (or perceived risk!)
Higher rates of default mean landlords charge higher rents. If you’ve ever tried to collect rent (and I have clients who both pay and collect) in many cases the stated rent is an ideal to strive for…They pay $500 one paycheck, then $400 the next, then don’t pay for a month, then pay $1,400 the next week, then $200, the $600. They pay their car notes and utility bills the same way. There’s always the risk that some other creditor will get the money first. And b/c of that risk rents are jacked up to compensate. At least that’s why I figure why rent costs so much.
“jump on craigslist any day and you will find that housing in bronzeville and a bit beyond, does not differ greatly from Wicker Park/ Bucktown. I makes no Godly sense, but it is a reality.”
And somebody somewhere questioned HD’s grasp of economics.
Homedelete is exactly correct – which is why rent to value is not consistent across areas, and in turn, why you cannot apply a formula to come up with fair value based on rent.
I’m glad someone understands this.
“None of my legitimate jumbo clients are having any problems.”
Ed, they don’t have a problem with discovering that fraud contributed greatly to their inflated purchase prices/jumbo loan balances?
Fair value based on rent can be used anywhere by adjusting the inputs to the formula.
It is just one method to arrive at a value conclusion and should be weighed against others based on the quality of the inputs.
Here’s a formula that works everywhere:
(Rent – vacancy and collection loss + other income – expenses) / cap rate = fair market value
Remember: Garbage in, garbage out.
You’re right, rent to value is just one of a couple of formulas to give an idea of what the value of a property is. I look at dti ratios, median income = median house, rent as a multiple of sale, comparable rents, etc. Ultimately though households need mortgages they can actually afford to pay. the foreclosure crisis is a result of people being unable to afford payments, for whatever multitude of reasons (fraud, over HELOC, no doc stated income, NINJA, etc).
Home prices should ultimately be based upon what someone with a conventional mortgage can afford to pay, tempered by the laws of supply and demand. At the end of the day – a home is only worth what someone pay for it (and it’s up to the bank’s underwriting dept to make sure that they can actually pay it!)
“MADFLY on January 28th, 2009 at 10:57 am
Homedelete is exactly correct – which is why rent to value is not consistent across areas, and in turn, why you cannot apply a formula to come up with fair value based on rent.
I’m glad someone understands this.”
homedelete- are landlords in high risk areas more likely to ignore warning signs when looking for tenants just to get their units filled? When I was looking for an appt 4 years ago, the first thing my landlord said was that he doesn’t want anyone that has accounts in collection and he doesn’t want anyone who’s debt payments and rent take up more than 75% of their income. Those were his 2 red flags. I’m sure the caliber of tenants is a little different in Bronzeville but it seems like the landlords could find a better way to cover their a** besides charging Hyde Park prices for “urban” (I guess we can’t say ghetto anymore) living. Isn’t that the whole point of ordering a would-be tenant’s credit report?
Accidential landlords think that the rental market is always strong and that qualified tenants with great credit will want to rent their apartment. And in the Gold Coast I suppose that’s true for the most part (LP gets post-college kids and quite a few of them have bad credit from not paying the credit cards).
But when you’re talking middle tier to lower tier neighborhoods, the quality of the tenant’s credit gets worse and worse. In the really bad neighborhoods if you say that you will only rent to qualified tenants with great credit then your apartment will sit vacant for 12 months a year. You have to take what offers are presented or else you’ll be losing money. I’ve never lived in the ghetto but portions of my job have exposed me to elements of ghetto living and it’s totally totally different from anything you or I can even imagine.
“When I was looking for an appt 4 years ago, the first thing my landlord said was that he doesn’t want anyone that has accounts in collection and he doesn’t want anyone who’s debt payments and rent take up more than 75% of their income.”
My other novel idea lately is to lowball some developer turned landlord for a cheap rental. My credit is good, my money is green, I pay all my bills on time all the time, I’m a respectful neighbhor, my household has two good lawyer jobs and I got cash in the bank.
If you want me as your tenant (AND YOU DO!) then give me a 30% discount. If you think you can do better, then let your apartment sit vacant for another few months until someone is willing to pay your $2,000 a month for your 2/2 in River West. BUT, if you want some cash today and then again the first of next month then here’s my certified check.
ha ha No Games 2016!!!!!
wonder what all the washington park specuvestors are doing right now?
depends who you are. friends of daley probably just line up for the next feeding frenzy…