Analyzing Neighborhoods in Chicago

Zak Marinko

Investor · Chicago, IL · Member since 2019 · 62 posts · 27 votes

Any tips or resources for analyzing the different neighborhoods of Chicago?

The resources I’ve found put all of Chicago together, which obviously doesn’t paint the whole picture!

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Henry Lazerow

Real Estate Agent · Chicago, IL · Member since 2017 · 2k+ posts · 2k+ votes

South of grand and north of grand are very different areas, then there is the part of humboldt that is east of park/west of western which is seeing high income millennial gentrification. Its going to be hard for general humboldt statistics to show this. Humboldt park is 3 very different neighborhoods. Love the area especially right along park and east of park.

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Andy Nathan
Rental Property Investor · Chicago, IL · Member since 2019 · 203 posts · 119 votes
6y
what type of investment are you looking at the moment?
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Zak Marinko
OP
Investor · Chicago, IL · Member since 2019 · 62 posts · 27 votes
6y
@Andy Nathan currently looking at multi-families in Humboldt Park.
I’m also a new investor so I’d like to spend some free time doing some homework and research different neighborhoods and surrounding cities. All resources I’ve used clump Chicago together for any data.
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Evan Smeenge
Real Estate Broker · Chicago, IL · Member since 2016 · 56 posts · 23 votes
6y
What type of analysis are you looking for? I have clients buying all around. South, North, West, what do you want to know?
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Mike B.Pro Member
Developer · Chicago, IL · Member since 2013 · 434 posts · 357 votes
6y
This site is a good resource. What do you want to know?
847-857-8574
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John Warren
Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes
6y
@Zak Marinko the data is all out there, but it isn't all free. The MLS has a ton of neighborhood specific data in relationship to sold prices and rented prices, so we realtors can pretty easily get to things like price to rent ratios, etc. Costar has a lot of data for larger buildings, and some agents like me pay for access so we get even more data to crunch. Humboldt is a decent place to look, although you are probably finding what everyone is which is that the western/less desirable part is where the cash flow is...
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Sarita ScherpereelBusiness Member
Real Estate Agent · Chicago, IL · Member since 2018 · 659 posts · 376 votes
6y
@Zak Marinko. I live on the border of Logan and Humboldt. What Are you trying to gain knowledge in?
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Aaron ZimmermanBusiness Member
Accountant · Chicago, IL · Member since 2018 · 2k+ posts · 1k+ votes
6y
While I think analyzing the data is good, I would definitely recommend either walking,biking, or driving for dollars to explore the neighborhood. There's only so much looking at the numbers will tell you!
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Zak Marinko
OP
Investor · Chicago, IL · Member since 2019 · 62 posts · 27 votes
6y
@Andy Nathan
For humboldt park, looking for a multi family, ideally something with some value add opportunities.
Also, I’ll connect with you in private messages to give some more info. Thanks for connecting!
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Zak Marinko
OP
Investor · Chicago, IL · Member since 2019 · 62 posts · 27 votes
6y
@Evan Smeenge I am mainly looking for population/demographic data. Income and employment would be beneficial as well. Crime I'm not as worried about because finding data on specific neighborhoods is pretty easy.
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Zak Marinko
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Investor · Chicago, IL · Member since 2019 · 62 posts · 27 votes
6y
@Mike B. Mainly looking for percent change of population in Humboldt park. Also for income and employment rate statistics. Any knowledge on dominating industry in that area would be helpful as well.
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Henry Lazerow
Real Estate Agent · Chicago, IL · Member since 2017 · 2k+ posts · 2k+ votes
6y
South of grand and north of grand are very different areas, then there is the part of humboldt that is east of park/west of western which is seeing high income millennial gentrification. Its going to be hard for general humboldt statistics to show this. Humboldt park is 3 very different neighborhoods. Love the area especially right along park and east of park.
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Jonathan KlemmBusiness Member
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Contractor · Chicago, IL · Member since 2016 · 4k+ posts · 2k+ votes
6y
@Zak Marinko - I think the best and easiest thing to do (if you have time) is to start walking the neighborhoods. Are you trying to get population and employment rates for specific neighborhoods? Would be interested if anyone has good data on that...

The path of progress for Chicago is along the "L" at least in the neighborhoods you are looking in. Have one of the awesome realtors above like @Henry Lazerow, @Sarita Scherpereel, or @John Warren take you on some tours they know all the neighbors and can definitely get you the information you are looking for.
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Shannon F.
Investor · Chicago, IL · Member since 2019 · 4 posts · 1 vote
6y
@Zak Marinko
What resources are you currently using? Great question Zak, following this.
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Zak Marinko
OP
Investor · Chicago, IL · Member since 2019 · 62 posts · 27 votes
6y
@John Warren thanks for the reply, I am definitely seeing that the western area works better by the numbers. I’ll get back to your private message as well to connect there
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Zak Marinko
OP
Investor · Chicago, IL · Member since 2019 · 62 posts · 27 votes
6y
@Sarita Scherpereel
Mainly looking for income, population change, and job/industry data. However, it seems like most people here support buying a good deal in the area, which has given me some confidence.
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Zak Marinko
OP
Investor · Chicago, IL · Member since 2019 · 62 posts · 27 votes
6y
@Aaron Zimmerman
Totally agree! My partner drove through in the evening last week and had good things to say. I think it’s important to go at night... I plan on going sometime this week to drive around. Maybe park and walk around or read a book
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Zak Marinko
OP
Investor · Chicago, IL · Member since 2019 · 62 posts · 27 votes
6y
@Henry Lazerow You're insight on the difference between the separate areas of Humboldt is very helpful, I appreciate that! From my property search and rental search, I noticed the higher prices east of humboldt park. That seems like the most desirable place to buy as of now, and it's true that any Humboldt statistics wouldn't tell the whole story. Thanks again
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Zak Marinko
OP
Investor · Chicago, IL · Member since 2019 · 62 posts · 27 votes
6y
@Jonathan Klemm Totally agree, I plan to drive over in the evening sometime soon, and it would be even better to walk around (maybe not at night). Ideally, I'd like to find the population and employment rates for neighborhoods, but I couldn't find any. However, It seems like @Evan Smeenge may be a great resource for that.
Going on a tour with any of those agents is a great idea as well, thanks. I'll stay in touch with them.
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Zak Marinko
OP
Investor · Chicago, IL · Member since 2019 · 62 posts · 27 votes
6y
@Shannon F. So far, have only used apartments.com and usa.com/rank . However, @Evan Smeenge is a great resource, I would perhaps get in touch with him!
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John Warren
Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes
6y
@Zak Marinko the danger with stats is that they can tell just about any story you want. You are on the right track with the neighborhoods you are exploring. Contrary to popular opinion, Chicago is not losing population at a prodigious rate or losing jobs in the core neighborhoods. Most of the neighborhoods people look to house hack in are doing great. I would focus more on where you want to live, work and invest and find your deals there. You have to visit your properties after closing, so make sure they are in an area you like!
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Art Perkitny
Specialist · Cleveland, OH · Member since 2018 · 232 posts · 348 votes
6y
@Zak Marinko
I think this may help you out:
Income by neighborhood in Chicago (2018) with chart on the right showing income trend for Humboldt Park:
Absolute population change by neighborhood in Chicago (2010 to 2018) with chart on the right showing population trend for Humboldt Park:

Date used is from the American Community Survey (ACS). Neighborhood data is computed using a propitiatory imputation algorithm on ACS data since the ACS does not provide data tabulated by neighborhood.
Hope this helps
- Art
3 Reply
Eric M.
Flipper/Rehabber · Louisville, KY · Member since 2008 · 1k+ posts · 1k+ votes
6y
Originally posted by @Zak Marinko:
Any tips or resources for analyzing the different neighborhoods of Chicago?
The resources I’ve found put all of Chicago together, which obviously doesn’t paint the whole picture!

Boots on the ground is the only way to really know a neighborhood. Neighborhoods are full of micro neighborhoods.
I have a house in East Roseland that is a great SFH street. I feel very safe as a white guy and contractors have left tools and materials out all the time with no issues.
And it's not uncommon to hear gun shots from just 2.5 blocks away where the multis are. Very weird.

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Zak Marinko
OP
Investor · Chicago, IL · Member since 2019 · 62 posts · 27 votes
6y
@Art Perkitny
Very helpful, thank you!! I’ll have to take a look on my computer
1 Reply
Zak Marinko
OP
Investor · Chicago, IL · Member since 2019 · 62 posts · 27 votes
6y
@Eric M.
That’s great to know. I definitely know how different areas can be so close together, but that close is surprising!
Always making sure to drive and walk around areas before committing. Maybe even at night after it passes the day test
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Vincent Mazzaferro
Rental Property Investor · Elmwood Park IL · Member since 2016 · 45 posts · 10 votes
6y
@Art Perkitny where did you get that data from? I'd like to look at that kind of stuff if it is available.
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