New investor - targeting the right Chicago neighborhoods

New investor - targeting the right Chicago neighborhoods

New to Real Estate · Chicago, IL · Member since 2014 · 10 posts · 5 votes

First time investor looking to grab his first property after following BP off & on for 4 years. The plan is 3BR condo or small multifamily and I've been watching the market closely for the last 6 months.

Targeting properties along the "Milwaukee corridor" (Logan Square/Avondale to Noble Square) that are within walking distance to a Blue line L stop. By my analysis, this area is relatively affordable but has upside as well, despite blowing up a bit the last few years. While some other NW neighborhoods might be hotter or have higher upside, I feel sticking near Blue line stops will help minimize risk. 

What do the more seasoned vets here think of these neighborhoods and the strategy? Thanks and I look forward to contributing more to the Chicago area forum!

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Investor · Chicago, IL · Member since 2016 · 515 posts · 247 votes
8y

Hey Kevin.  I'm an investor in the city.  I have a three unit in Irving Park close to the blue line and a four unit up in Edgewater.  I've been studying the city's multi-families and various neighborhoods for a few years now.  Feel free to PM me and we can discuss various areas of the city and I'll give you my opinion on their potential for upside.  

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  • Investor · Chicago, IL · Member since 2016 · 515 posts · 247 votes
    8y

    Hey Kevin.  I'm an investor in the city.  I have a three unit in Irving Park close to the blue line and a four unit up in Edgewater.  I've been studying the city's multi-families and various neighborhoods for a few years now.  Feel free to PM me and we can discuss various areas of the city and I'll give you my opinion on their potential for upside.  

  • Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes
    8y

    @Kevin O'Brien you should connect with @Brie Schmidt. She works in that area and also owns property on the north side. 

  • Brie SchmidtBusiness Member
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    Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes
    8y

    I would say anything along the blue line from the loop to Jefferson park is a good idea

  • Real Estate Broker · Chicago, IL · Member since 2016 · 44 posts · 16 votes
    8y

    Welcome Kevin! I own a few properties along the blue line and have loved seeing the prices appreciate but it makes it difficult to add to the portfolio. There are always more deals on the horizon but they seem to be .7 miles away from the blue line instead of under half a mile. Would love to connect and swap goals and strategies!

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