Prices don’t make sense in Chicago?

[Boris Le]

Has anyone found where prices for multi family buildings make sense around Chicago? When I look at rent prices versus mortgage, taxes, utilities, multi families are priced so fixed monthly costs are higher then the rents. Or you'd be making $0 monthly with 20% down. Am I looking at this wrong or am I looking into wrong places?

[John Warren]

@Boris Le this is undoubtedly one of the most challenging times since I got my license for investors to enter the market. There definitely are still deals, but they tend to go to the more full-time folks who have the knowledge and experience. With that said, I am a big believer in buying in your back yard. Where do you live now? Focus there and double down. I wouldn't spread out to a new part of the city or suburbs where you don't know the area. 

I most recently purchased a building in Berwyn in 2024 and now a value-add deal in Cicero in 2025. I have stayed in the same areas where I started so my local market knowledge continued to improve, and my competitive advantage stays strong.