Investor · Chicago, IL · Member since 2013 · 227 posts · 31 votes
I recently accepted a senior level position in the chicago area! I'm not only excited about the position and the location, But I'm very excited to expand my real estate investing to the chicago area!
My first play there will be to buy a multi-family for an owner-occupy until I get familiar with which areas I'd like to live in permanently. Preferably a 4 family where I can get the best terms for a residential loan.
Chicagonites! Where are the best places to buy/live for the value. I know that there are parts of chicago (particularly South Chicago) where you shouldn't buy unless you own a bullet proof vest. But these are also the parts of town that seem to be claiming the highest cap rates. 15% Caprates?! WHAT?!
I bet rent collection is a huge issue in this part of town.
The Southside is huge but the troubles that exist are bundled up as if it's one big neighborhood.
There is an aspect of every area in Illinois located on the Southside. If you want Lincoln Park or Hoffman Estates, there are areas equivilent to them on the Southside. I'll email you some zips and a break down of the areas within those zips as to where you are just as safe as those places that are considered the best places to live in Illinois.
I don't remember the address, but I did come across one in that area a while ago. If you are planning to owner occupy, I think most of the suburbs around Bolingbrook a good bet. My properties are in this area.