House Hacking Buy and Hold - Chicago Neighborhoods

[Alex Ferraro]

Hey BP,

I'm looking to house hack a multifamily property in the $250-$350K range in Chicago. I'm currently looking mostly in the northern neighborhoods like Humboldt Park, but am not opposed to being on the South Side or even as far west as Oak/Forest Park. 

What neighborhoods do you think are best suited for this kind of investment that haven't already been completely gentrified? I want to buy-and-hold the property and would like to factor in the 10+ year future of the location. Any insight is appreciated. Thanks!

[Melissa Rios]

You should be able to house hack around the upper part of your price range in neighborhoods like Old Irving or Portage Park, possibly fixer upper opportunities in Jefferson Park.   These neighborhood have good transit in place, always a plus.  

Burbs- Skokie has nice two and three flats, as does Oak Park and Forest Park like you suggested.  River Forest  is another.   Bridgeport has great opportunities and good proximity to transit also.  Good luck.