There is some land near O'Hare airport, about 1 acre, that is surrounded by 300K + townhomes, that usually sell fairly quickly. It is located in unincorporated Des Plaines, but the city limit line is one of the property lines so it would be very easy to annex into the city. After speaking with them, they'd love to see this project end up as 16 townhomes, which I proposed and have the site plan and some of the civil engineering done already. The sewer and water main is already to the property. I figured the cost for each unit for land acquisition, annexation, engineering and site improvements, total cost for each unit is $35,000. Figure another $150 to 175,000 for each unit, for building costs. Nice profit per unit, and that's if they only sell for $300, the same as the 10 plus year old townhomes that surround it. My motivation for this is to actually get the work and construction management money. I have owned a concrete, excavating and plumbing business since 1983. I do own trucks, semis, excavators, bobcats and a shop full of all kinds of tools for this type of work. I am highly skilled and knowledgeable. I would like to see us both realize a fair amount of profit for the risk involved, and since your risk is greater, your reward should be greater. I'm not asking for anyone to lend me any money, I do pretty well on my own, except don't have the funds to do this type of project.
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