Chicagoland Market Preferences?

Question

Hey BP members! Pretty general question here, but what areas in Illinois, specifically the Chicagoland area, do local investors prefer and why? I’m looking into SF rentals primarily due to the lack of MF properties in my area (Western Suburbs of Chicago), although am not opposed to MF. Would love to connect to chat!

Paul De Luca · Answer

There's lots of small multi-family in the near western suburbs of Chicago in Cook County in places like Berwyn, Forest Park, Cicero, and Melrose Park but as you move further west into DuPage County multi-family becomes less available. Personally I like Lombard, Wheaton, and Glen Ellyn for SFH. Elgin is a decent option too.

Mark Ainley · Answer

@Michael McCabe good question.  Depending on how far west you want to go in the burns @John Warren is a great resource east of 294 and @Josh Mitchell can be a great resource going into the far western burbs.  I am personally a fan of Dupage county!

Michael McCabe · Answer

@Zach Gring great, thanks for the referral!

Zach Gring · Answer

@Michael McCabe

A few people come to mind when it comes Chicago investments. My best recommendation would be to contact @Mark Ainley over at GC Realty & Development. They manage I think close to 600 doors in and around Chicago, investing in the very same neighborhoods they recommend as well. Check them out.

Good luck!

Josh Mitchell · Answer

@Michael McCabe happy to chat and answer any questions you have about the burbs! Let me know how I can help

Jonathan Klemm · Answer

@Michael McCabe - I definitely like the Elgin and aurora markets from a cash flow perspective.  Also, if you go far south suburbs you can find tons of brrrr deals....think like Dolton, Harvey, Riverdale

You can get a ton of good incites on different Chicago area markets from @Mark Ainley podcast as well.  Check out the link below.

https://www.straightupchicagoi...

Tony Angelos · Answer

Hey @Michael McCabe The podcast suggestion @Jonathan Klemm would be a good resource for this. @Mark Ainley is the host so the whole gang is here 😂 We've had investors from several areas come in and talk about their markets and what the pros/cons are.

My advice: determine your budget and see what towns and villages fit to get started

Marcin Talaga · Answer

I suggest the NW side of the city, in neighborhoods like Dunning, Portage Park, Norwood Park, Jefferson Park, etc.  Usually you'll find good long term rentals in these areas.  I'd be happy to discuss in depth.

John Warren · Answer

@Michael McCabe if you want to do single family rentals then you will probably want to move further west. I operate my portfolio east of 294 in the suburbs that are dense and that border the city. I do all multifamily as the numbers just don't work on single family homes in my areas most of the time whereas they very much do on the multi units.

Michael McCabe · Answer

@Mark Ainley appreciate it, very helpful!

Chicagoland Market Preferences?

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