East Side of Chicago?

Question

Hello BP Community!

Anyone have any thoughts on investing on the East side of Chicago? (Avenue B-O) This sometimes seems like a "forgotten" part of the city, especially being the fact that it runs right up to Indiana state line. However, after taking a drive through several blocks, I see well taken care of buildings and homes despite the area once being home to heavy industrial activity such as steel mills.

Gathering details online it is in fact one of our 77 community areas. Located in the far southeastern corner of the city, the East Side is bounded by the Calumet River on the north and west, Lake Michigan on the east and Egger’s Grove on the south. Numerous bike paths and trails are also in the area

I've looked to see if the east side was selected as one of the neighborhoods in the city's INVEST SOUTH/WEST but did not find anything. Any thoughts? Am I looking at some potential here? or are my glasses just foggy? lol

Tom Shallcross · Answer

Jared Kott of Marblestone Properties has a ton of units down there, lives in the area, is high immersed in the community, and also provides management.

We had him on Episode 11 of the Straight Up Chicago Investor Podcast to specifically talk about the East side and Alphabet letter streets if you want to give it a listen and potentially reach out to him.

Eudith Vacio · Answer

Hey @Kevin Hunter - welcome!

And I love the East Side of Chicago and I actually JUST bought a 3-unit building out there last November that I'm rehabbing that is located near 95th and Avenue M.

It's blocks away from the park, on a main street, and while it's not in the program, its near South Chicago, which is in the INVEST/ SOUTH WEST program. The city of chicago had a holiday sale on some vacant lots, as well and I purchase the lot next to my new property a couple of months ago. There is a lot of opportunity in the area, and taxes are low, rents are rising so you can make it work! You should also look into INVERT Chicago where they are trying to create an underground system in the East Side, it's pretty cool.

Let me know if you have any questions - would be happy to help!

Kevin Hunter · Answer

Thanks Tom! I've been a fan of the podcast now for the last year, i'll have to go back and listen to that episode! Keep up the great work, the content you and Mark provide has been invaluable in my landlording journey!

Jonathan Klemm · Answer

Hey @Kevin Hunter - Seems like you have gotten a ton of great resources above.  I think an area like East Chicago is where you will eventually see some of the highest appreciation.  Not because the market is going to go sky high, but more so because everything has been valued so low compared to other areas of the city.  I know last year Englewood was one of the highest appreciating neighborhoods for similar reasons.

Build yourself a solid team like @Eudith Vacio (realtor)and @Jared Kott (PM) and you'll be in good shape!

Mark Ainley · Answer

@Kevin Hunter & @Jose Estrada you have to connect with @Jared Kott at Marblestone because he is the boss of the East Side. He has resources in that area as well he can share and collaborate with you on.

Jose Estrada · Answer

Ive been thinking about it myself. I'm attracted to it because of the cost vs steadiness of tenant pool.

funny that you mentioned the invest south west, it's not a part of the program. However I think that any are that is near those projects is going to be getting a sticker premium.

I do know that the area is one of the pilot zones for the adu

im not sure what your goals are but if you want to chat and connect hit me up on a DM.

cheers,

Henry Lazerow · Answer

Just 2 years ago you could buy single family there needing a little work for roughly 30% of todays price and multi units for half of todays price but the area has not really changed at all in 2 years still abandoned areas, poverty, etc. I think theres better areas to buy that are already nice/growing and don’t see as much the crazy swings up/down but they will cost more money to get in. For cashflow check out Brighton Park on SW side we have been seeing awesome growth there in rents/values and higher income people moving into area.

Erika Carter · Answer

I like that area as its close to indiana, retail, expressways, harborship golf course!

Kevin Hunter · Answer

Thanks Eudith for the information! I just sent you a request to connect, would definitely like to chat!

Kevin Hunter · Answer

Thanks Jose for the insight, will connect with you shortly!

East Side of Chicago?

Most Popular Reply