Rental Investment in the city of Chicago

[Hae Sun Yi]

I recently moved to the city of Chicago and looking for a deal to buy a small unit like a studio/1 bed in a high rise building. However, I realized there are tons of apartments and new construction apartments are still on the way in many places. Does the rental investment number still work in the city? Also, in the case of buying a unit in a high rise building, (considering rental cap and everything) can I still claim appreciation? It seems more complicated than the suburbs like Naperville.

I am from Naperville, and is it a better idea of investing in Naperville even though a bit far to take care of the property if I buy in the area?

Any advice would be appreciated.