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Updated about 3 years ago on . Most recent reply

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Michael Mahung
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27
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Househacking Chicago Neighborhoods

Michael Mahung
Posted

Thanks for reading - this will be my first post so excuse any strange formatting.

1. I have lived in the north suburbs of Chicago (Evanston/West Ridge) most of my life and have been wanting to start investing.
2. Based off of a few pre-approval letters, I can realistically afford a multifamily unit under 375-400k

With this in mind, I have been finding a lot of potential properties in the following neighborhoods:
Humboldt Park
Austin

Hermosa
South Lawndale (Little Village)
McKinley Park
Brighton Park
Back of the Yards
Canaryville

Does anyone have any strong opinions about any of these neighborhoods?
I've driven through most of them (minus Canaryville) but I'm not too familiar with the good/bad blocks.

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Quote from @Paul De Luca:

@Michael Mahung

Brighton Park and Little Village have the highest concentration of residential units in 2-4 unit buildings in Chicago (70% and 71% respectively). The areas are comparable in my experience (rents, taxes, demographics). I'm optimistic about Marshall Square (eastern Little Village) with the proximity to the pink line & Pilsen along with a decent retail presence in the area.

I think Canaryville is a bit underrated since I hardly hear anyone talk about it.


 I grew up in Pilsen and I have seen the movement and growth of the pink line. South Lawndale has a lot of potential as well as north lawndale. A lot of city money put in to these areas. Mackinley park and Douglas park are both iconic parks 

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