Best part of Chicago to buy a condo in

[Rahul Balla]

Hi everyone,

My name is Rahul and I live in Chicago downtown. I currently own six properties in Indiana and I'm now looking to buy a condo here in Chicago for personal residence. I know condos might not be the best investment, but I'd rather own something in the city than keep paying rising rent. 

I'm looking for a 2-bed, 2-bath condo priced under $500,000, with a 10% down payment. Since there's a chance I might move away in about 3-4 years, I want to make sure I can rent it out later and cover all my expenses with the rental income.

Can anyone recommend areas in downtown Chicago that would fit my criteria and might appreciate a bit over time? I know condo prices here don't usually go up a lot, but I'm hoping to find a good spot. Also, I do understand that there are many variables to my question such as interest rates, etc but any insight on good areas where rents keep increasing would be appreciated.

Thanks in advance for any advice! Let me know if you need more details.

[Jonathan Klemm]

What's up @Rahul Balla!  First of love that you know what you want and are okay with it "not being the best investment".  I see a lot of people self-sacrifice, which I try to avoid along the journey to the top.

If you aren't stuck on staying downtown Chicago, I'd consider finding a condo along the Blueline, but it would likely be in a smaller building (2-4 units.  Also, consider Lincoln Park, Lakeview, or Roscoe Village.

Another place a bit more off the beaten path would be Lincoln Square; people love that area and keep appreciating.