A wide variety of groups and individuals own multi-family properties.
Some buildings are owned by individual investors. Others are owned by large corporations.
Some owner-investors live in or near the neighborhood where their building is located.
Others live within an hour or two of their property.
Then there are the “out-of-state investors.” It seems that more and more of them are busily buying up property throughout the Chicago area.
Out of state investors are often saddled with a bad reputation. In the eyes of many, investors who are not locally-based don’t care about the people who live in their buildings and their only motive in owning the property is to raise rents and maximize profits through annual cash returns or upon sale.