Best areas in Chicago to invest

Chicago, Illinois
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Best areas in Chicago to invest

Chris Baek
New to Real Estate · Chicagoland Area · Member since 2022 · 5 posts · 7 votes

Hello Experienced Real Estate Investors,

I am interested in investing in multi-unit buildings in the City of Chicago and wanted to know what you think are the top 3 areas that will see the greatest gentrification/upswing in the next 5-10 years.  I'd love to hear from you. 

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John Warren
Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes
2y

@Chris Baek Chicago is a fantastic market, especially if you have ties to the area. Where do you live currently? I notice that your profile says Chicagoland. Are you city or suburbs? 

I am a big fan of the Humboldt Park neighborhood, and we have sold a few deals there that have done really well for our clients. It is still transitioning, so it is block by block, but the rents have been pretty astounding. 

I also like the Tri-Taylor neighborhood personally, although I think the neighborhood is already gentrified. It is just a really cool neighborhood with easy access to the city. 

You really can't go wrong with most of the NW side of the city neighborhoods along 290 as well. The Avondale, Irvin Park, Albany Park type of neighborhoods are great rental markets if you can get in for a price that makes sense. 

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  • Bob S.
    Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
    2y
    Quote from @Chris Baek:

    Hello Experienced Real Estate Investors,

    I am interested in investing in multi-unit buildings in the City of Chicago and wanted to know what you think are the top 3 areas that will see the greatest gentrification/upswing in the next 5-10 years.  I'd love to hear from you. 


     OHIO LOL, Chicago, very left and NOT landlord friendly, 

    0Reply
  • Chris Baek
    OP
    New to Real Estate · Chicagoland Area · Member since 2022 · 5 posts · 7 votes
    2y

    What areas in Ohio are the top 3?

    1Reply
  • John Warren
    Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes
    2y

    @Chris Baek Chicago is a fantastic market, especially if you have ties to the area. Where do you live currently? I notice that your profile says Chicagoland. Are you city or suburbs? 

    I am a big fan of the Humboldt Park neighborhood, and we have sold a few deals there that have done really well for our clients. It is still transitioning, so it is block by block, but the rents have been pretty astounding. 

    I also like the Tri-Taylor neighborhood personally, although I think the neighborhood is already gentrified. It is just a really cool neighborhood with easy access to the city. 

    You really can't go wrong with most of the NW side of the city neighborhoods along 290 as well. The Avondale, Irvin Park, Albany Park type of neighborhoods are great rental markets if you can get in for a price that makes sense. 

    4Reply
  • Sarita ScherpereelBusiness Member
    Real Estate Agent · Chicago, IL · Member since 2018 · 659 posts · 376 votes
    2y

    I agree with @John Warren our clients are mostly interested in investing on the Northwest side of the city, including Humboldt Park, and they have had very good results. Hermosa is becoming more popular as folks are priced out of Logan Square and Avondale. I'd also consider a few near-south neighborhoods like Bridgeport and McKinley Park as good opportunities. One of my clients did a rehab on a two-unit building in Bridgeport that appraised for $100k over within in a year. All of this depends on your budget, of course! My team focuses on 2-4 unit buildings in Chicago, so if you'd like to talk further, DM me. I'd be happy to help!

    [email protected]773-456-4644
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  • Bob S.
    Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
    2y
    Quote from @Chris Baek:

    What areas in Ohio are the top 3?


     Cleveland of course, it has been #1 for many many years, still in the top 3 overall. 

    Good luck 

    0Reply
  • Jimmy LieuBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votes
    2y
    Quote from @Chris Baek:

    What areas in Ohio are the top 3?

    Hi Chris, I like Columbus Ohio because I see it being one of the biggest metropolitan cities in the next 10-20 years, all signs are pointing here! Population is growing aggressively and jobs are moving here especially with major employers like Intel, Google, Amazon, Nationwide, etc. On top of that, you have one of the biggest and best universities in the world here with Ohio State University. The cost of living is extremely low compared to other cities and you can still many many positive cash flowing and 1% deals here. On top of that, you get great appreciation and very landlord friendly laws. Tons of investors are buying Columbus up! As an investor and agent here, let me know if you have any questions or want to connect.

    [email protected]614-300-7535
    Jimmy Lieu, Red 1 Realty4.9120 Reviews
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  • Paul De Luca
    Real Estate Agent · Chicago, IL · Member since 2018 · 1k+ posts · 1k+ votes
    2y
    Quote from @Chris Baek:

    Hello Experienced Real Estate Investors,

    I am interested in investing in multi-unit buildings in the City of Chicago and wanted to know what you think are the top 3 areas that will see the greatest gentrification/upswing in the next 5-10 years.  I'd love to hear from you. 


    Probably Belmont Cragin, Hermosa, and Humboldt Park. Maybe East Garfield Park.
    1Reply
  • Account Closed
    Realtor · Cleveland, OH · Member since 2023 · 340 posts · 215 votes
    2y

    Hi, as an Ohio Realtor, I would definitely agree that Ohio is a great place to invest in real estate. If you have any questions, please give me a call. Thanks!

    Regina Blake- Ohio Realtor

    0Reply
  • Kevin Garvey
    Realtor · Chicago, IL · Member since 2014 · 29 posts · 12 votes
    2y

     Hi Chris,

    The Northwest blue line areas are always popular. Wicker park and Logan Square have reached a critical mass, and Avondale is on the way there, so Hermosa and Belmont Craigin are getting popular. Humboldt Park also has a lot of good deals.

    Don't overlook the South Side either - Woodlawn has seen a massive resurgence in the last couple years with the Obama library construction. 

    0Reply
  • Jacopo Iasiello
    Investor · Miami Beach, FL · Member since 2017 · 362 posts · 109 votes
    2y

    Hi Chris, When considering areas for real estate investment in Chicago, it's essential to evaluate various factors like market trends, development plans, and neighborhood dynamics. While predicting future gentrification can be speculative. 

    Before investing in any area, conduct thorough research, consult with local real estate professionals, and assess factors like job growth, crime rates, school quality, and demographic trends. Additionally, consider your investment goals, risk tolerance, and timeframe to make informed decisions aligned with your objectives.



    0Reply
  • Jonathan KlemmBusiness Member
    Moderator
    Contractor · Chicago, IL · Member since 2016 · 4k+ posts · 2k+ votes
    2y

    Hey there @Chris Baek - I think the simple and true answer is that it depends...

    The best area in Chicago depends on what your goals are as an investor.  My friend @Jason Wagner has a great report that I can share with you that shares on different neighborhoods are appreciating.

    I personally like the South East Corridor (Washington Park, South Shore, Woodlawn, etc.) and Garfield Park.  Both have great public transportation access and are already seeing new development happening on the regular.

    What dollar value of a property can you purchase currently?

    [email protected]
    Quality Builders4.966 Reviews
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