Multi-Family Investing in a New City - Chicago

[Del Kirksey]

Hey BP,

My name is Del and this is my first official post on BP. I started my RE journey a few months back after spending some time on BP and reading books to educate myself on best practices. Ultimately, all signs pointed to "just get started" so here I am. A few months ago I hired an agent and we've been in and out of contracts here in Cincinnati, Ohio, where I've lived for 8 years now however I just received news that I will be moving to Chicago with my job in the next two months. 

I know nothing about Chicago outside of Downtown which I've visited a few times. Would anyone have any advice or resources on getting started in a new city if my goal is to owner occupy a multi-unit dwelling (budget: ~175k)? I will be working in the loop so my main thing is being near public transit wherever I live. I also plan to find short-term housing, possibly with a roommate, somewhere until I'm comfortable jumping into the Chicago market.

Areas I've investigated so far just via hearsay on here and other forums: Oak Park, Pilsen, Marshal, Mckinley Park, Bridgeport

Again, I am completely new to the market so any advice is appreciated,

Del

[Matthew McMahon]

@Del Kirksey I live in Bridgeport, one of my favorite neighborhoods in Chicago.  If you are looking for a 2 flat with 2 to 3 beds per unit your median price will be around 315K, depending on how much sweat equity you are looking to put in, 2 flats range from 200k up to 450K +plus. Rents in the area are around $800-$1200 for a 1 bedroom. If you need any assistance feel free to PM. Chicago is a great city, and summer is the best time so enjoy.