Acquisition, Rehab to Resale: 1328 S Kolin Successfully Flipped and Managed by Pearson Realty Group

Pearson Realty Group recently teamed up with our sister company, PRG Management’s Investment Management division to collaborate on an investor-owned REO property at 1328 South Kolin Ave in Chicago. This newest project between our two companies is a golden standard of Pearson Realty Group’s and PRG Management‘s ability to bring distressed properties back to life, assisting investors with purchasing lender-owned properties, facilitating rehabilitation services, and ensuring a profitable sale.

Investor Purchase of a Lender-Owned REO Property

Pearson Realty Group played a pivotal role in helping the investor for 1328 S Kolin acquire the lender-owned property. As a distressed REO property, it faced defaults on its construction loans, which meant the purchase process required careful management of legal and financial complexities. With help from our REO team, Pearson Realty Group brought invaluable knowledge and experience to the table, guiding the investor through every stage of the process. By leveraging our extensive experience with REO properties and a large roster of experienced Chicago real estate agents, we ensured a smooth transaction, which allowed the investor to acquire the property at a favorable price.

Collaboration With PRG Management

After assisting the investor with the purchase of 1328 S Kolin it was time for the rehab to start. To streamline the process, Pearson Realty Group brought on the new construction and project management services of PRG Management. With their expertise in handling Chicago rehab projects, PRG Management oversaw the property’s restoration, coordinating with contractors, managing timelines, and seeing that all renovations were completed to a high standard. Their Chicago Investment Management team ensured that the rehab process ran smoothly, allowing the investor to focus on maximizing the property’s potential for resale.

Flipping 1328 S Kolin for Profit

After the initial purchase, the investor’s main goal was to flip 1328 S Kolin for a profit. Pearson Realty Group once again stepped in, offering strategic insights on how to position 1328 S Kolin in the current market. Our knowledge of the local Chicago market conditions allowed us to recommend the necessary improvements and price points that ensured that the property would attract quality buyers quickly. With Pearson Realty Group’s guidance, the investor successfully purchased for $11,000, rehabbed for $23,550, and sold the property for $250,000 (not including soft costs), completing a profitable investment flip at 1328 S Kolin, yielding a $215,450 profit.

This project marks another successful collaboration between Pearson Realty Group and PRG Management that turned a distressed property into a profitable asset for the investor and a positive transformation for the neighborhood. The REO Team Pearson Realty Group demonstrated their strength in handling REO properties, coordinating repairs, and flipping them for profit for investors.

If you’re looking for potential investment residential or commercial properties that can be successfully flipped in Chicagoland please contact us today or fill out the form below. An experienced Pearson Realty Group agent will be in touch to collect more details and help you explore off-market opportunities. Do you have a distressed property facing foreclosure? Talk to our Chicago REO & Short Sale team today to learn about your options.