Investor · Chicago, IL · Member since 2015 · 45 posts · 5 votes
I have lived in the city of Chicago for 7 years and know a pretty good amount about the various neighborhoods in the city, and I have what I feel is a decent list of target areas. When it comes to the Chicago suburbs however, I am pretty ignorant. There are so many suburbs to look at, I don't think it would be very efficient to just wing it and look into values and comps in all of them.
What are some suburbs of Chicago that offer good deals or are up and coming today? My goal is to do several SFH flips, but my longer term plan involves multi unit buy and holds, so advice on burbs for either strategy are very welcome. I have heard good things about Oak Park, Forest Park and Berwyn, but beyond that I don't really know where to look. Any suggestions from the other successful investors targeting the Chicago suburbs have recommendations for places to start looking into so that I can finish building my criteria?
I have lived in the city of Chicago for 7 years and know a pretty good amount about the various neighborhoods in the city, and I have what I feel is a decent list of target areas. When it comes to the Chicago suburbs however, I am pretty ignorant. There are so many suburbs to look at, I don't think it would be very efficient to just wing it and look into values and comps in all of them.
What are some suburbs of Chicago that offer good deals or are up and coming today? My goal is to do several SFH flips, but my longer term plan involves multi unit buy and holds, so advice on burbs for either strategy are very welcome. I have heard good things about Oak Park, Forest Park and Berwyn, but beyond that I don't really know where to look. Any suggestions from the other successful investors targeting the Chicago suburbs have recommendations for places to start looking into so that I can finish building my criteria?
Looks like I'm the 1st one responding to your post so here it goes. Over the last few months the suburban properties purchased by our company and clients for flips, has ranged from Highland Park, Cicero, Norwood, Berwyn, Oak Park, Evanston, Hyde Park (not a suburb), South Holland, Chatham (Not a suburb), Maywood, Elmhurst, Chicago Heights, & Country Club Hills.
For the last few months the only suburb we've had success w/ multifamily holds is Cicero.
Investor · Chicago, IL · Member since 2015 · 45 posts · 5 votes
10y
@Crystal Smith Thank you for the great list, that should keep me busy for a while! Any favorites in that list or ones that seemed to have the most success, or were they all pretty solid? Thanks for the nugget on the difficulty of multi family in the burbs as well.
@Justin Ericsson That's two votes for South Holland, I think I'll start my research there. Thanks!
@Crystal Smith Thank you for the great list, that should keep me busy for a while! Any favorites in that list or ones that seemed to have the most success, or were they all pretty solid?
Our favorite was Highland Park because of the high profit margin.