Let's Talk Location & Neighborhoods

[Mark Rustin]

Happy Monday Everyone!

I've been hunting with a realtor for my first multi-family investment for about two months now, and I've searched through the Chicago forums to find peoples opinions on what areas are the best to invest in. However, often this depends hugely upon what you can afford or how you plan to pay for your investments. I was hoping this thread could become a living document of places people recommend for investing, or don't, and the reasons why.

I'll go first: I've lived in Bridgeport for 3 years now and if there is a place that I would say "buy, buy buy!" it would be here. Great bars, great food, Sox stadium, walkability, bike-ability, and that rare suburban in the city feel, plus proximity to Orange, Green and the Red line. I've been able to walk through a few properties here but I'm mostly already priced out of my favorite neighborhood.

As a result I've been looking at Canaryville, McKinley Park, Pilsen (also pretty heavily priced out of) and Brighton Park for investments. Any opinions on these neighborhoods? Besides their proximity to an improving area I'm not sure if they're good places to look or not.

What are your favorite (or not) Chicago neighborhoods for investing right now?

[John Casmon]

I invest primarily on the NW side of the city, but have a few neighborhoods I like on the south side. We own property in North Center, Avondale, Irving Park, Hermosa and Belmont Cragin.

I also like Portage Park, Jefferson Park, Logan Square, Albany Park and Edison Park for investment purposes. For the Southside, I would consider Bronzeville, Chatham, McKinley Park, and Woodlawn. 

There are other areas that are great, but are much harder to find great returns (Hyde Park, Kenwood, Lincoln Park, Lakeview, Wicker Park, Ravenswood, etc).