According to Irish-based selling agents, Castle Glen Properties, Chicago represents a good investment opportunity for Irish buyers.

"Chicago is the third largest metropolitan area in the US after New York and Los Angeles. It's at the geographical heart of the country, and has developed into an international centre for banking, securities, high technology and air transportation, " explains Phillip Hegarty, Sales Director, who says already there's a waiting list of potential tenants for these units, as they are so close to downtown. The development is also on a major feeder route to Chicago's expressway system.

Being marketed as a 'hands-off ' scheme, a management company is in place to rent and maintain the apartments, and each unit comes with a guaranteed rental return of 7% per year for the first two years. This package also includes exemptions from property taxes and management fees for the first two years.

"Chicago property prices are one of the most affordable in the large metro markets.

The average appreciation from the year 2000 to 2005 was 11.8% per year, and this growth is expected to be maintained and increase over the next five years. With Chicago being the third largest city in the states, it's falling well short of the other major cities in costs per square foot, " adds Hegarty.

Apartments have one bedroom, but are very spacious at 102sq m (1100sq ft), and all units have large living, dining and kitchen areas, and good-sized balconies. Average monthly rent for these units is estimated at around 2,300. US mortgages of 80% loan to value are available through the selling agents.

Further information Castle Glen Properties 053-26266 or www. castleglen. ie