Multi Unit in Oak Forest, IL

[Vivian Huang]

Hi BP Fam!

Looking into investing in a multi-unit in Oak Forest, Chicago, IL. I live in CA so trying to learn more about the area. From my quick drive around, it seems like a safe, quiet suburb. 

I will welcome any information about the area... some of the questions I'm wondering about:

- Are there any local businesses (colleges, hospitals, etc.) that can keep rental demand stable throughout the years?

- Any safety concerns?

- Any thoughts on the market? I'm not looking for an appreciation play but hoping value will at least stay consistent.

- Any property mgmt / service recommendations?

[Crystal Smith]

Originally posted by @Vivian Huang:

Hi BP Fam!

Looking into investing in a multi-unit in Oak Forest, Chicago, IL. I live in CA so trying to learn more about the area. From my quick drive around, it seems like a safe, quiet suburb. 

I will welcome any information about the area... some of the questions I'm wondering about:

- Are there any local businesses (colleges, hospitals, etc.) that can keep rental demand stable throughout the years?

- Any safety concerns?

- Any thoughts on the market? I'm not looking for an appreciation play but hoping value will at least stay consistent.

- Any property mgmt / service recommendations?

Oak Forest- Sleepy burb;  Very safe;  very stable.  With regards to rental demand- Not a function of hospitals, businesses or colleges in Oak Forest because there arent' very many.  The demand is driven by people moving from the Chicago city southside to the burbs.  Pay close attention to Real Estate Tax as you run your numbers on property opportunity.  There are owner-occupied exemptions that may not apply to you as a landlord that could kill your cash flow.