More Bullish News for Chicago Real Estate as Chicago Purchasing Managers Index Soars:- Not only are the prices and sales increasing for real estate in the Chicago area, so is the economic activity.  The most recent Chicago Purchasing Managers Index soared to a reading of 58.7 in May.  Not only was that up from 49 in April, it topped the analyst consensus of 49.9.Chicago real estate investing  

This was the largest increase since 1983, when the United States started to pull out of the era of stagflation.

A purchasing managers index measures the level of economic activity from what businesses are buying.  A reading of over 50 is considered to be bullish.  Such an increase for the Chicago area is very bullish for the real estate market.

"This is another positive sign for the Chicago real estate market," declared Jerry Cohen, President and Founder of EquityBuild, a real estate investment firm active in the Chicago area.  "I cannot emphasize enough to individual investors how attractive the Chicago market is, particularly for turnkey properties that have been fixed up and come with a tenant.  Sales and prices are up sharply in Chicago from a year ago, and I expect that trend to continue."

Shaun Cohen, President of Equity Finance, the funding arm of Equity Build, added that, "With this strong economic reading, the opportunities to profit form private mortgage notes are even more appealing.  Investors who do not want to own a property can prosper from financing a private mortgage note for a deal.  We have registered a fully documented 12% annual return from our private mortgage note deals."

A private mortgage note is when an investor lends the money to buy a property.  The terms are flexible, worked out between the parties in the transaction.  An investor can finance a single transaction or contribute to a pool of private mortgage money to fund a wide variety of real estate deals.

The Chicago real estate market is attractive for a broad range of factors, Jerry Cohen noted.  "You have a major commercial, cultural, and social center for millions.  Chicago has been called the 'Second City' due to its prominence in the American geopolitical and socioeconomic fabric.  A real estate investor cannot ask for a better set-up than a turnkey property in Chicago that is fixed up and rented out with a solid tenant.  The real estate market is clearly recovering and turnkey properties are a great way to ride the wave of rising prices in Chicago!"

Home sales in April were up 27.8% in Chicago from a year ago, according to the Illinois Association of Realtors.  That was the 22nd month in a row of increases.  The median home price is now at a two-year high, increasing 21.8% from last April.