The Best areas in Chicago to invest in a rental unit

[Heather Rizzo]

Hi All,

I need some recommendations for the areas in Chicago to get the best return on a rental unit or Single Family.  Up to 200k in a preferably up and coming neighborhood.  Any suggestions out there? Looking in the city as well as suburbs...

[Matthew Olszak]

@Heather Rizzo $200k will get you plenty in Little Village and parts of Gage Park, with solid returns if managed properly. But you've got to go into the deal recognizing that the tenant base isn't nearly the same as on the North Side.

I've been seeing some very exciting things happening here in Little Village. A lot more properties are coming on the market in the $200k zone and actually going under contract than a year ago when that number was around $140k, and $200k was like a once-every-six-months thing. I've also noticed a much greater appreciation from buyers for higher end finishes. 

Your goal/timeframe, financing, cash, and rehab resources matter a lot in making a more appropriate suggestion as well.