New Investor Considering Elmwood Park

[Michal Kolenda]

Hi everybody!

I'm new to the forum, but I've been greatly interested in real estate investing for the last year or so. I've been searching for a 3 flat in the North Chicago/west suburbs and have narrowed it down to Elmwood Park. I grew up in the area and moved to other suburbs around elementary school, and it really seems to have improved into a great looking neighborhood. 

Specifically, I'm looking for a 3 flat built in the 60's that has 2 - 3 bedroom units with 1.5 baths and ideally a 2 bedroom garden unit and my budget is 450k but my mind is open to ideas. These buildings seem to be typically in good shape, demand good rents, and also someplace I would want to live in for a while as I would be occupying it. 

I would like to hear any advice or thoughts on the area, and would be more than happy to meet up with a local investor, in which case I would be asking hundreds of questions.