Is Illinois good to invest in?

5 Replies

I wanted to see if anyone has thoughts on whether or not the Illinois real estate market is a smart place to be investing given the current budget issues?

Hey Dave!

Hope this message finds you well, I know it's been awhile since you posted this. Despite everything going on in Illinois, there are still good deals to be found. As a realtor here in the Champaign-Urbana area, much of the investment property here is uplifted by the university and its large international student base which will only continue to grow, especially with the expansion of the medical program here. Therefore, good cash flow and ROI is possible.

Unfortunately, the budget issues, taxes, and etc. are pushing many individuals out of the state and there is a lack of buyers which is really putting a damper in the market here. However, I suspect many might take this as an opportunity to "buy the dip" in real estate here as one might say for stocks (I am also an equities investor/trader). The hardest part is investing with so much negative sentiment swirling around (and of course, nothing is guaranteed to get better) but that's what differentiates the good investors from the rest.

Hi Dave, I’m still flipping houses here, but we’re not buying anymore rentals in IL. If an amazing deal came my way in a great area, I would consider it though. Right now, we’re focusing out of state for buy and hold.

Nate Shields, Real Estate Agent in IL (#475159635)

Ug.  Aren't the taxes prohibitive of investing there?  We were looking at IL briefly, but the taxes issue made us do a quick turnaround.

Originally posted by @Nate Shields :

Hi Dave, I’m still flipping houses here, but we’re not buying anymore rentals in IL. If an amazing deal came my way in a great area, I would consider it though. Right now, we’re focusing out of state for buy and hold.

 Nate, Im currently flipping and looking to get into rentals in Chicago and  burbs. Is it really that bad now or just prices getting too high?

@John Sinkevicius We're taking a cautious approach right now. Taxes have been moving up, as well as interest rates, and prices are continuing to climb, although in some areas I think we're starting to see some stabilization and/or decline. The state political climate is still in turmoil and the pension shortfall is hard to ignore. 

That being said, we're still holding the  properties we do have in IL. We just don't anticipate any acquisitions in the near future.

Nate Shields, Real Estate Agent in IL (#475159635)

Join the Largest Real Estate Investing Community

Basic membership is free, forever.