Jason Marcordes, owner of Landmark Property Management, provides insight into how Pilsen has evolved and why he thinks it still has a runway for growth. Jason dives into tenants expectations and several nuances that come with investing in one of the oldest neighborhoods in the city.
Aside from Pilsen, we touch on surrounding neighborhoods such as Little Village and Bridgeport, and analyze price points, housing stock, neighborhood growth, and more. If you learned something today from Jason, please take a moment to leave us a 5 star review and share us with a friend!
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Timeline:
Landlord tip of the week 4:03
Guest Intro 5:30
How have the Pilsen Stockyards changed over time? 7:30
How did you end up choosing Pilsen as a home base? 8:30
How does the housing stock differ in Pilsen from the rest of the city? 10:15
Are investors completely gut rehabbing properties in Pilsen or just accepting the smaller bedrooms? 11:10
What are some of the nuances in Pilsen to expect as opposed to other parts of the city? 12:05
What are some tenant expectations for rehabs in Pilsen? 13:30
What are the main streets/ sections of Pilsen I should be aware of as an investor? 16:30
How do the tenant expectations and prices change as you move West from Pilsen? 19:30
Are you managing a lot of market rents or more section 8? 24:19
How does the investment environment compare in Bridgeport to Pilsen and Little Village? 26:10
Do you get involved in the tri-taylor area, and what’s that neighborhood like? 26:50
How have your rents been since COVID hit? 29:00
Can you give rough pricing on a turn key deal in Pilsen? 29:54
Do you see city taxes becoming more of a burden as Pilsen grows? 31:00
Can you give us your thoughts on Will county as an investment opportunity? 34:30
Wrap up:
What’s your competitive advantage? 35:25
What’s one piece of advice you’d tell a new investor in Chicago? 36:30
What do you do for fun? 37:03
What’s a good self development activity you’d recommend? 37:30
Who is someone in your local network you’d recommend? 38:25
How can we learn more about you? 39:10
