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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Jake FugmanBusiness Member
Real Estate Broker · Chicago, IL · Member since 2016 · 256 posts · 250 votes
6y
@Zak Marinko I like the mapping function on HomeSnap.com once you are looking to get rental comps for your building. It allows you to filter properties that are for rent and/or rented through the MLS. A big part of your underwriting will be to understand the potential stabilized rents for the units you are renting out.
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Crystal SmithPro Member
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Real Estate Broker · Chicago, IL · Member since 2014 · 2k+ 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!

1st off let me admit that I haven't read the responses to your question in the thread. And I'm sure you've had some interesting responses. Analyzing a neighborhood is an interesting topic. There are lagging & leading indicators with respect to where a neighborhood is heading regarding investment. If you're a newbie and want to jump on a trend versus starting a trend, one of the lagging indicators is permits. Lots of permits mean lots of investments & improvement and an upward trajectory for a neighborhood. The city of Chicago has a color-coded building permit dashboard that covers all 77 communities. It may be something you want to review. You'll find it on the Chicago Building Code website (Chicago Data Portal).
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Alan Dunlap
Rental Property Investor · Chicago, IL · Member since 2018 · 89 posts · 77 votes
6y
@Zak Marinko
try city-data.com
Since Chicago is so big you’ll have to drill down to specific zip code
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