What is the best suburb of Chicago to start investing in?

13 Replies

I am moving to Chicago from Stl soon (Schaumburg area most likely) and I want to start investing in real estate when I get there. I am looking to invest in single family or multi family. I want to get into an area that will likely grow in the next 10 years. Does anyone have any advice?

Originally posted by @Jospeh A Henke:

I am moving to Chicago from Stl soon (Schaumburg area most likely) and I want to start investing in real estate when I get there. I am looking to invest in single family or multi family. I want to get into an area that will likely grow in the next 10 years. Does anyone have any advice?

Chicago is too large and diverse a market to answer your question without you answering some questions first:  Do you want to hold, flip, are you investing in cash, leveraging, how much risk are you willing to take, do you want to live in the property, do you want to invest in the burbs or the city .....   Now that I haven't answered your question.  Here's an article for your perusal.  Chicago Real Estate Market 2019

 

@Crystal Smith thank you for your reply! I am looking to buy and hold. I'm looking for fixer uppers that I can do a small reno on and increase the value. I plan on employing the BRRR strategy and getting my money back out of the properties so I can leverage my money into more. I've been looking at the south side near the University of Chicago as I have heard of several initiatives taking place soon that may make the area more desirable.

Originally posted by @Jospeh A Henke:

@Crystal Smith thank you for your reply! I am looking to buy and hold. I'm looking for fixer uppers that I can do a small reno on and increase the value. I plan on employing the BRRR strategy and getting my money back out of the properties so I can leverage my money into more. I've been looking at the south side near the University of Chicago as I have heard of several initiatives taking place soon that may make the area more desirable.

South side near UIC is a good market.  Very competitive.  Be patient as you look. 

Both the UIC area university village, bridgeport, Pilsen, and U of C area Hyde Park, kenwood and Bronzeville are rapidly rising due to the expected things being built around them

@Jospeh A Henke Welcome to the Schaumburg area soon...our office is in the next town in Roselle but we have invested and manage heavily on south side and south burbs.  Something to be cautious of that I imagine most on this post will agree is the rental license requirements of some of these villages especially in the south suburbs not to mention some of the villages inability to operate an efficient village operation.  If you want to talk one day we can as I can break down our successes or failures in each town or neighborhood in Chicago.  Reach out anytime.