What is different about Chicago Multifamilies

[Mahesh Sam]

Of all the major cities in the US, Chicago seems to have MF listings that have numbers that look better, at least on paper.  I can find multiple listing in the 300-500k range and have 9-12% net cap. No other city has decent MF in this price range with that cap rate. 

What is special about Chicago?

[Brie Schmidt]

To add context to what @Jaren Barnes is saying... SOME areas of Chicago have a declining population, SOME areas of Chicago have high crime.  The city alone is 234 sq miles, which is huge.  So it is impossible to use blanket statistics and apply it to the whole market.  You need to be careful where you invest, but not all areas are bad.

Also, the laws are tenant friendly, but I have been a landlord in Chicago for 8 years and have never had an issue with them in the A/B areas