Why Chicago Three Flats Offer Flexible Exits with Lawrence Dunning

Chicago three flats give Lawrence Dunning something he values as an investor and developer: flexibility.

A standard 25 foot by 125 foot Chicago lot can work well for three units. Lawrence says the format creates options because buyers can include owner occupants, local investors, people completing a 1031 exchange, and investors from other parts of the country.

Lawrence also explains why he moved from rehabbing properties into new construction. After a difficult experience with a former partner, he spent time focusing on brokerage before developing a strong relationship with a client who became a friend and project partner.

Today, Lawrence is involved in several new construction projects while also working as a broker. He helps investors look at available opportunities, understand the pros and cons, and connect with property management.

He is also clear that Chicago comes with tradeoffs. Taxes and insurance can be high, and the market is tenant friendly. That is one reason Lawrence places so much importance on choosing the right property manager and screening tenants carefully.

Key topics and takeaways:

• Why Lawrence moved from rehabs into new construction
• Why Chicago three flats fit standard local lots
• How three unit properties can create several possible exit options
• Why Lawrence sees property management as a major part of the investment
• How Chicago cap rates attract investors from around the country
• Why Lawrence believes every real estate market comes with tradeoffs

Guest information:

Lawrence Dunning is a Chicago real estate investor, landlord, broker, developer, and podcaster. He works with investors looking for Chicago real estate and also works with developers building new construction properties.

Lawrence said he can be found by searching for Lawrence Dunning on LinkedIn and Instagram.

Call to action:

If you are looking to invest in Chicago real estate or want to talk about opportunities in the market, Lawrence invites people to reach out to him through LinkedIn or Instagram. He also mentioned helping investors see strong inventory before it reaches the market.