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Updated almost 9 years ago,
House Hack in Chicago South Side?
I’m looking for a multi-unit to house hack in Chicago and have a limited budget. We’ve been pre-approved for $220K for a 2-unit, $280K for a 3-unit, and $305K for a 4-unit. Originally, we were looking at homes in the North side in the $350-$400K range. I’m having trouble finding 2-4 units in the North side in our budget that don’t need much work.
There are a lot of homes for sale in the South side that are in our budget and look to be in decent shape. Is all of Chicago’s South side unsafe, or just areas of it? I was looking at the crime map and it appears to be just pockets. Would living in a “safe” pocket in the South side still be a bad idea? I’m not really worried about myself, but I have a tiny wife and we might have a baby in the next few years. I’m also worried about the quality of tenant.
Would you consider house hacking anywhere in the South side, or should I keep looking for something good in our budget in the North?