New investor - targeting the right Chicago neighborhoods

[Kevin O'Brien]

First time investor looking to grab his first property after following BP off & on for 4 years. The plan is 3BR condo or small multifamily and I've been watching the market closely for the last 6 months.

Targeting properties along the "Milwaukee corridor" (Logan Square/Avondale to Noble Square) that are within walking distance to a Blue line L stop. By my analysis, this area is relatively affordable but has upside as well, despite blowing up a bit the last few years. While some other NW neighborhoods might be hotter or have higher upside, I feel sticking near Blue line stops will help minimize risk. 

What do the more seasoned vets here think of these neighborhoods and the strategy? Thanks and I look forward to contributing more to the Chicago area forum!

[Jeff Burdick]

Hey Kevin.  I'm an investor in the city.  I have a three unit in Irving Park close to the blue line and a four unit up in Edgewater.  I've been studying the city's multi-families and various neighborhoods for a few years now.  Feel free to PM me and we can discuss various areas of the city and I'll give you my opinion on their potential for upside.