Buying
You don't need to know exactly what you want yet, most people who reach out don't. We've been on every side of a Chicago purchase: buying, rehabbing, owning, selling. We'll help you read every property honestly, including the ones to walk away from.
Not sure where to start? A short note is plenty.
First step
Most of the people who reach out are buying for the first time, and most of them are nervous. That is normal. Here is what happens next. Brandi or Dan gets back to you, usually within a business day. You tell us what you're thinking, even if it's only a neighborhood and a rough number. We show you what your money gets you in Chicago right now. Nothing to sign for a first conversation.
The money
Here is what it takes, in dollars. On a 2-flat (a two-unit building; most of the country says duplex) you plan to live in, an FHA loan can be 3.5% down. The rules that matter: you live there at least a year, you pay mortgage insurance each month, and there is a cap on the loan size, which we check first. A regular bank loan (a conventional loan) can be 5% down on anything up to four units, as long as you live in one of them. On a $600,000 building, 3.5% down is $21,000 and 5% is $30,000. Closing costs come on top, and we show you the whole number for any building before you go see it.
The City's HomeGrown grant can add up to $70,000 toward the purchase, depending on your income and where in Chicago you buy. It covers 2-flats but not 3 or 4 units. Funds open and close, so ask us whether it is taking applications.
We tell you which of these fits you before you look at a single listing, and we can introduce you to a lender who works with 2 to 4 unit buildings. You can use anyone you like.
One more thing people are afraid to ask: how we get paid. Our fee is written into a short agreement you sign before we tour together, and we go over it on the first call. Sellers can still offer to cover it, and many do. Either way, you know where you stand before you write an offer.
Where
Everybody's fighting over four neighborhoods. Chicago has seventy-seven. The same kind of building can be $350,000 on one street, $850,000 around the corner and $1.2 million a few blocks on, so where you look is most of the work. We keep guides for 100 Chicago neighborhoods and 24 suburbs: what a 2-flat sells for, what it rents for, and how both moved. Want the condo or house number for a neighborhood? Ask. We pull it the same way.
Logan Square · Bronzeville · Austin · Cicero · All 124 guides
The 2-flat
Dan started this way. In his words: "My first property was a house hack where a renter paid 60% of my mortgage." Whether a renter covers that much today depends on the building, and the analyzer shows the real share for any address.
A lot of people who reach out about a condo end up in a 2-flat instead. Rents tend to rise over the years and a fixed loan payment doesn't. Taxes and insurance do rise, and we put those in the numbers too.
If you want the numbers on a specific building, the deal analyzer shows what it would rent for, what it costs to run, and what's left each month. It asks for an email to open, and it signs you up for Dan's weekly Chicago deal alerts, which you can stop any time. Or reach out and we'll show you how we run them.
From out of town
About one in five of our clients lives somewhere else and buys here. Many come from California, New York and the coasts, where the same money buys a lot less. We run the whole process for someone who cannot walk the property themselves: the showings, the inspection and the closing, and you see everything we see. Some clients saw their building in person for the first time after it was theirs. If you'd rather fly in for the inspection, we plan around it.
Reviews
"When we got to the closing table we only had to pay $2K, 10% of what we were expecting. Dan advocated for our needs at every turn."
M. C. · buyer"While he was helping us find ours, I often felt like we were his only clients. He accompanied us to each showing and always took the time to listen."
F. R. · buyer"Starting our investment journey in Chicagoland was a breeze, all thanks to Dan Nelson. With his years in the game, he really understands what works and what doesn't."
Brandon · bought a multi-unit in Irving Park · ★★★★★ Zillow"I just purchased my first investment property working with Dan. His help with the whole process was tremendous. He is very knowledgeable and responsive."
Abbas · bought his first investment property · ★★★★★ Zillow"Dan was instrumental finding the right investment property for me. He helped with all aspects of the buying process, from finding the place to helping with inspections."
FAM M · bought a multi-unit in Skokie · ★★★★★ Zillow"Dan helped us find a condo for our son to live in while attending college. Dan knows the ins and outs of Chicago and multi-unit real estate, which was very helpful."
flipsideM · bought a condo in Printers Row · ★★★★★ ZillowNot sure where to start? A short note is plenty.