Since 1986, URB has witnessed the ups and downs of the Chicago rehabbing real estate business. This year, we are seeing a promising resurgence of interest in rehabbing properties in Chicago’s South Side communities.
The resurgence of rehabbing real estate in Chicago creates lucrative business opportunities, attracting more newcomers. Whether pursued part-time or full-time, this renewed interest is driven by the profitability potential in addressing the growing demand for decent housing.
Additionally, the movement is fueled by revitalization initiatives that are transforming South Side neighborhoods into thriving, vibrant communities.
Why the Rehabbing Real Estate Reveal in Chicago is happening
Community Revitalization Programs:
Initiatives such as the INVEST South/West program and city grants encourage private developers to transform abandoned homes into modern, livable spaces. These incentives help reduce the financial burden on rehabbers and promote community-focused investment.
Demand for Decent Homes:
The growing population in Chicago’s southside communities drives the demand for decent, updated housing. Rehabbing properties in south side neighborhoods, rehabbers and investors can meet this demand while tapping into a profitable market.
Tax Incentives and Assistance:
The city of Chicago offers property tax incentives and assistance programs to people willing to rehabilitate homes, further enhancing the financial viability of the rehabbing business.
URB Chicago Business Models in Rehabbing:
Fix-and-Flip: Purchase distressed properties, renovate them, and sell for a profit.
Buy-and-hold: Renovate single—or multi-family houses for long-term rentals, addressing the inequity of a typical Chicago apartment’s living space, shared amenities, and monthly rent by creating a more appealing and equitable home environment for renters.
Mixed-Use Redevelopment: Converting outdated mixed-use buildings into modern, incoming-producing retail and living spaces is an emerging trend catering to decent storefronts and residential housing.
URB Chicago removes barriers
One way URB Chicago removes barriers for real estate rehabbers, especially newcomers, is through our Sale by Owner Financing Benefits, which make purchasing more accessible. Since 1986, URB has been committed to empowering new and experienced rehabbers to succeed in Chicago’s real estate market.
