Chicago Development Group SONNY MEHRABAN absolutely HORRIBLE experience. Cheap rehab jobs, tenants that will not pay rent, MY BUILDING BROKE 2 WEEKS AFTER BUYING!! Lost THOUSANDS in repairs, maintenance and tenant replacement. GREEDY MISLEAD 9024 S Cicero Ave Oak Lawn, Illinois
I was a new investor looking to get into my first investment property so I gave a call to Chicago Development Group after my friend referred me to Sonny because he knew he was selling real estate investments. I spoke with Sonny on the phone who told me about the investment opportunity on the south side of Chicago. I had spoken to a friend who was buyign on the south side and was having success so i thought what the heck lets give it a try.
I spoke with him on the phone and someone he worked with took me to a multi unit building and showed me that it was still under construction. After meeting with Sonny, he convinced me that everything would be rebuilt, was going to work, and that he would manage the building for me after the purchase and so forth.
I put a purchase contract down with earnest money (he made me write the check to his personal acct), decided to get a loan on the building and it took roughly 60 days which is normal for these types of loans. As it neared the 45 day mark I was getting pressure from him to pay him more because he said he was losing money. He told me I would lose the building if I didn't give him the money he demanded but he would return it once the deal went through. I finally caved and gave him the money.
My loan closed 2 weeks later. Come to find out after closing that the building rehab was not 100% complete and he was not going to return my 15k. He kept avoiding my calls left and right. His office manager Tecora is taught to dodge calls for him making it nearly impossible to reach him. Now I am having a ton of maintenance issues and two of the tenants won't pay rent. He refuses to help with the situation.
There is no management, and I am stuck trying to manage this building all by myself. This man is a terrible person, and has cost me thousands of dollars. He has a lot of nice cars, and comes across like a very nice person. Please whatever you do, do not buy a building from this man for your own sake and livelyhood. The stress you will endure will take years off your life!!