Chicago area rental investments

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A question for my cash flow peeps...any of you have have any experience in the Chicago suburbs? Seems like there are some good ROI floating around, however I have no experience in Illinois. Is this a landlord-friendly state? Seems like that answer varies depending on county, from what I’ve read. Thanks in abc Andre.
@Igor Levit like all things, it depends on what your definition of ‘good ROI’ is. We are selling garden style apartment complexes in the suburbs of Chicago (all suburbs) for anywhere between a 7%-11% cash on cash depending on the suburb.
Originally posted by @Igor Levit :

@Steve G. I’m curious about the eviction laws are in the area.  I’ve read that in parts of Illinois it is an expensive and drawn out process. What’s your experience been like?

DuPage County is the fastest for evictions from my experience. Takes time from start to finish, but last time took me around 6-8 weeks. Much better than other counties in Illinois.

Calumet? You must be talking about high ROI on low income housing, using HUD, or simply buying houses at the low end of the price spectrum.

Sure a lot of investors and more so now days are looking for such properties but it is my understanding that is pays to really be selective, and put more time into your tenent selection process. 

Don't get me wrong I have purchased several of those properties myself and have done very well on ROI, & cash flow, but not necessarily with appreciation, unless it is forced appreciation which in all honestly has alwasy been my favorite way to get appreciation gains.

The last purchase I made in that area I believe was a run down 16 unit apartment building for $100K and put another 199K into it to bring it up to par and rentable condition but now generating over $16,000 per month in rents. I did this with 100% my own money back some 5 or 6 years ago. Cash flows better than I am doing with properties in higher end neigborhoods now days.

@Brie Schmidt   thanks for the mention.

@Igor Levit

I cover parts of that area but not all of it. Thats almost NW Indiana. 

I am usually from 95th Street and on up. But I am occasionally in the East Side neighborhood and Calumet Park areas which are just south of 95th St.  Any further south would not be my stomping ground.

Still all Cook County and more tenant friendly than landlord. 

What type of properties are you looking at ?

And @Nick R. ...hey and welcome to BP !!

Hi @Igor Levit   - I live in Chicago and have focused on close by major cities for investing in buy and holds like Milwaukee and Indianapolis. However, my first rental was a townhome in Hoffman Estates (northwest suburb of Chicago) which has averaged about 300-500$ cash flow. 

If you're set on Chicago, then I would recommend researching near by larger suburbs (Hoffman Estates, Schaumburg, Naperville, Elgin, Skokie, etc.)