Chicago Far NW suburbs-- Where Do You Buy?

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Chicago Far NW suburbs-- Where Do You Buy?

Shelly F.
Realtor · NW Suburbs of Chicago, IL · Member since 2015 · 156 posts · 62 votes

 I would like your input ! I am trying to determine interest and demand out here in the northwest suburbs of Chicago. Specifically,  please let me know what area(s) you are interested in investing in, and even rank in order of your preference. This will help me determine demand  for great deals I'll be uncovering for you in the coming months...

Areas are:

Elgin

Carpentersville

Algonquin

Lake in the Hills

Crystal Lake

Huntley

Woodstock

I appreciate you weighing in! 

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Mindy JensenPro Member
BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes
10y

I would rank them pretty much in the order you put them. Everyone works in the city. The closer you are to the city, the more people will be looking at your properties. Huntley is 1.5 hour express train to the city, each way. That's a tall commute. And it's a fairly small town, so you just don't have a huge pool of tenants.

I like Algonquin and Carpentersville. Elgin has a large enough pool of renters who will either live/work there or live there to save money on rent while commuting to the city, and Elgin-Chicago express train is 45 minutes or so.

I lived in Geneva for a couple of years. Not every train stopped at my station, and I missed too many to live that far out again.

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  • Mindy JensenPro Member
    BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes
    10y

    I would rank them pretty much in the order you put them. Everyone works in the city. The closer you are to the city, the more people will be looking at your properties. Huntley is 1.5 hour express train to the city, each way. That's a tall commute. And it's a fairly small town, so you just don't have a huge pool of tenants.

    I like Algonquin and Carpentersville. Elgin has a large enough pool of renters who will either live/work there or live there to save money on rent while commuting to the city, and Elgin-Chicago express train is 45 minutes or so.

    I lived in Geneva for a couple of years. Not every train stopped at my station, and I missed too many to live that far out again.

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  • Scott Schier
    Real Estate Agent · Algonquin , IL · Member since 2015 · 53 posts · 28 votes
    10y

    you can put me on your wholesale list.  

    Depends on what you pick up but lower entry price is always a better environment for buy and hold investors.  

    Parts of Algonquin Huntley and Crystal Lake are pretty high priced and make poor rentals.  

    1Reply
  • Zack KarpPro Member
    Lender · Schaumburg, IL · Member since 2015 · 833 posts · 774 votes
    10y

    All of the above for me when the price is right.

    847-387-5513
    2Reply
  • Perry Rich
    Investor · Williamsburg, IA · Member since 2015 · 13 posts · 1 vote
    10y

    Huntley

    lake in the hills

    Carpentersville

    Condo or townhome  ideally

    1Reply
  • Ryan Savage
    Investor · Crystal Lake, IL · Member since 2014 · 11 posts · 1 vote
    10y

    Crystal Lake, Lake in the hills, Algonquin, Woodstock.  I agree with Scott, Crystal Lake can be high priced depending on the area.  Please put me on your list!

    Regards

    1Reply
  • John Cincola
    Mchenry, IL · Member since 2014 · 7 posts · 1 vote
    10y

    Hi guys, I am also a wholesaler in Mchenry County area.  Please let me know if you would like to hear about my properties.  I currently have one at 9702 May St, in Algonquin.  I just put it on the mls, so check it out.  If you are interested there is going to be a showing this saturday.  Thanks!

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  • Scott Schier
    Real Estate Agent · Algonquin , IL · Member since 2015 · 53 posts · 28 votes
    10y

    @John Cincola

    Yow - that May St house is rough. If anyone can sell this one it will be @Joe Mueller

    You can send me what you get when you get it - I like 3/1 with or without basements. 

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  • Account Closed
    Indianapolis, IN · Member since 2013 · 210 posts · 149 votes
    10y

    @John Cincola

    Do you own this property in Algonquin or do you have it under contract? 

    You can add me to your e-mail list. 

    @Shelly F.

    You can add me to. I am looking for flip props. If you have anything feel free to send it my way. I am also looking in the Palatine, Rolling Meadows, Lake Zurich, Deer Park, Barrington, Arlington Heights, Hoffman Estates, Schaumburg, Etc. 

    There is nothing to ugly either. 

    0Reply
  • John Cincola
    Mchenry, IL · Member since 2014 · 7 posts · 1 vote
    10y

    Ok, sounds good.  Ill add you guys to the list.  I have May St property under contract.  Yeah it is pretty rough but I still think there are some options there to make some money.  

    0Reply
  • Joe Mueller
    Barrington, IL · Member since 2010 · 204 posts · 54 votes
    10y

    Just listed this for @John Cincola at $39900. 

    Got another one on River st that's an off market wholesale deal river front property for $199k. ARV $400k

    PM if interested in either. 

    0Reply
  • Ryan Savage
    Investor · Crystal Lake, IL · Member since 2014 · 11 posts · 1 vote
    10y

    John, please add me to your list.

    0Reply
  • Matt Pieper
    Buy and Hold Investor and Real Estate Broker · Midwest · Member since 2014 · 30 posts · 5 votes
    10y

    Hey guys, please add me to your buyers list.  All NW suburbs are of interest to me.

    Thanks 

    0Reply
  • Rafa Salazar
    Investor · Carpentersville, IL · Member since 2015 · 5 posts · 0 votes
    10y

    add me to the list for Carpentersville properties. 

    0Reply
  • Shelly F.
    OP
    Realtor · NW Suburbs of Chicago, IL · Member since 2015 · 156 posts · 62 votes
    10y

    Got it, thanks all! First mailer going out later this week. Glad to be partnered with @Jerry Pucket on this! I am in search of someone in the area (for a short time only) who can help me evaluate & estimate repairs...I do have some knowledge but would like someone willing to review my numbers and maybe even visit the properties with me and "hold my hand" for the first couple of deals...would consider a JV for the right situation!

    0Reply
  • Michael R.
    Investor · Cary, IL · Member since 2014 · 124 posts · 95 votes
    10y

    Hey @Shelly F. we've met a couple times at local BP meetups.  I hope you're having great luck out there and would appreciate it if you could add me to your buyers list as well.  I live in Cary and have properties in Crystal Lake and a 30 minute radius from there so anything in that range is great.  Thank you!

    0Reply
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