I'm currently seeking $500,000 to complete the construction of a 3-unit residential building in Chicago's Woodlawn neighborhood. Sales comparisons in the area for this product type eclipse $800,000 and the neighboring building was built and sold by me in October of 2023 for $755,000. The project is roughly 25% complete and the expected completion time is 6-9 months. I fully expect to repay the $500,000 with interest within one year.
Business Model: Allen Property Solutions focuses on utilizing real estate development as a tool to create construction jobs, build skills, and drive economic growth within communities.
Customers: Our target customers are professionals and families looking to add supplemental household income via new construction multifamily investments.
Products: The property types that Allen Property Solutions offers range from single family homes to commercial/residential mixed use buildings.
Team: Our team consists of industry leaders, top performers, and local residents searching for opportunities in Chicago real estate. The agents, attorneys, contractors, and brokers that assist are dedicated to creating a cohesive environment that fosters education and growth for communities in need.
Credentials: I'm a dedicated Local 597 pipefitter with a passion for community service. I ventured into real estate development in Chicago to further contribute. My journey began in 2016, constructing a single-family home on over 2 acres in Orland Park, IL. Witnessing the equity generated from this project instilled confidence in pursuing a similar endeavor in Chicago but focusing on multi-family properties. Despite the increased complexity and challenges faced in the Chicago project, it culminated in a successful sale for $755,000, surpassing the amount of the Orland Par sale.
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