Tom Mole

1 week ago | biggerpockets.com | Brie Schmidt |Tom Mole |Nick Patterson

I have an offer pending on a retail condo in chicago with about a 10-12 cap rate. Its in a good area of the city (lincoln park/lakeview) with decent traffic. I'm not understanding pricing here. I know people are concerned that property taxes will rise slightly, population growth etc.. but is that the sole reason for the high cap rate? There are very few, if any, other big cities with such cap rates.