Chicago - Buying this year!

[Alexander Budka]

All,

I am flying to Chicago in early October to look at some investment property.  If any of you have suggestions on neighborhoods or any details/niches, I am all ears! 

Also, if anyone that owns property in the area is free for breakfast, I am buying! 

Best,

Alex 

[Wendell De Guzman]

Originally posted by @Alexander Budka:

All,

I am flying to Chicago in early October to look at some investment property.  If any of you have suggestions on neighborhoods or any details/niches, I am all ears! 

Also, if anyone that owns property in the area is free for breakfast, I am buying! 

Best,

Alex 

 Alex, it would depend on what you're looking for.

Single family homes?

Small multi units (2-4 units)?

Big apartment complexes (50-100+ units)

Land?

Commercial properties (retail, medical, office, etc.)?

Also, are you looking for CASHFLOW or SHORT TERM APPRECIATION plays or LONG TERM WEALTH?

I have SFHs in Antioch, Bolingbrook, Plainfield, Glen Ellyn, Villa Park and Chicago northside.

Antioch & Bolingbrook is an B+ area, Plainfield is B, Glen Ellyn is A, Villa Park is B+ and Chicago northside is A area. A & B areas are good for fix-n-flips and rent to own.

I believe that Chicagoland is good for short term appreciation plays (2-3 years) and fix-n-flips. Inventory has shrunk - specially foreclosures. Jobs have returned to its peak. We have a diversified economy. The Case Schiller Index indicates we have more room to grow in terms of real estate prices. See below:

The problem though is that Chicagoland has high property taxes and corrupt government (which will further result in higher property taxes and lower cashflow). In my opinion, there are better CASHFLOW opportunities outside of Chicagoland than in it.