Moving to Chicago and Looking to Invest

Moving to Chicago and Looking to Invest

Rental Property Investor · Chicago, IL · Member since 2015 · 50 posts · 13 votes

I'll be moving to Chicago for a new job starting August 1st. My tentative plan is to find a place to rent for a year while I get settled at my job and learn the area, then hopefully invest or house hack that next year. I have a few questions in my pending move.

We've been looking on Craigslist and Zillow plenty and can certainly move-in to Chicago the "traditional" way finding a Craigslist post, but it's always nice to make a personal connection. Thanks in advance for any advice you can share!

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Crystal SmithPro Member
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Real Estate Broker · Chicago, IL · Member since 2014 · 2k+ posts · 1k+ votes
7y

@Thomas W.  Chicago has 77 neighborhoods.  Before using Craiglist or Zillow I recommend you research the neighborhoods, pick your top 10, then go hang out in those neighborhoods.  If you're going to househack you may as well pick a place you'll enjoy living.

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  • Rental Property Investor · Chicago, IL · Member since 2015 · 50 posts · 13 votes
    7y

    @Matthew McMahon

    Thanks Matthew! I'll PM you here in a moment.

  • Flipper/Rehabber · Los Angeles, CA · Member since 2018 · 61 posts · 11 votes
    7y

    Welcome to Chicago!  I'm also a transplant though, after 8 years, I can probably be considered a local.  Feel free to PM me with any questions, happy help.

  • Member since 2018 · 36 posts · 20 votes
    7y

    Let's connect! I've been here 20 years and it's a great city. I'd be more than happy to talk about various neighborhoods in the city. 

  • Crystal SmithPro Member
    Moderator
    Real Estate Broker · Chicago, IL · Member since 2014 · 2k+ posts · 1k+ votes
    7y

    @Thomas W.  Chicago has 77 neighborhoods.  Before using Craiglist or Zillow I recommend you research the neighborhoods, pick your top 10, then go hang out in those neighborhoods.  If you're going to househack you may as well pick a place you'll enjoy living.

  • Jason MarcordesPro Member
    Investor · Chicago, IL · Member since 2015 · 154 posts · 91 votes
    7y

    Welcome @Thomas W.! Chicago is an awesome city but as @Crystal Smith mentioned, it has 77 neighborhoods and each one is a bit unique so you'll definitely want to do your homework. In my opinion, some of the most important things you'll want to look into are:
    1.) Crime (there are some great websites for this, including crime reports dot com)
    2.) Walkability/proximity to restaurants, bars, shops, etc (why live in the city if you can't walk to everything you want??)

    3.) Proximity to public transit (the "L")

    4.) Proximity to your job

    For example, I live in Lincoln Square. I absolutely love it because within a 4 block walk, I can get to everything I ever need (literally), it's super safe, and the L is 3 blocks from me. It's definitely not as close to my office as I would like it to be but that's the one area I was willing to sacrifice. If you ever want an opinion on a neighborhood or just want to chat, feel free to hit me up. Good luck with everything!

  • Investor · Chicago, IL · Member since 2016 · 515 posts · 247 votes
    7y
    Originally posted by @Thomas W.:

    I'll be moving to Chicago for a new job starting August 1st. My tentative plan is to find a place to rent for a year while I get settled at my job and learn the area, then hopefully invest or house hack that next year. I have a few questions in my pending move.

    We've been looking on Craigslist and Zillow plenty and can certainly move-in to Chicago the "traditional" way finding a Craigslist post, but it's always nice to make a personal connection. Thanks in advance for any advice you can share!

     Welcome to Chicago!  I think renting for a year while you learn the city is a great idea.  

    I agree with those who said study the neighborhoods.  What sort of environment do you like to live in?  What sort of neighborhood amenities are important to you?  

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