All Forum Posts by: Emmanuel Rugamba

 Here's some information on the Chicago Market.  As the 3rd largest MSA in the country it's hard to generalize the Chicago market as it's actually over 100 different submarkets when counting the 78 communities in Chicago property and then adding in the various suburbs, including in and around Naperville.  With all of that said without know more specifics about what price points you're considering and location I'm going to Generalize

1. Median Prices for single families homes in the Chicagoland region went up about 7.4% as of November 2024.  Here's a link to the data:  https://mred.stats.10kresearch.com/infoserv/s-v1/vwxD-yIT

2. Median Sales Price for condo in Chicagoland went up about 8.4% over the past 12 months as of November 2024.  Here's a link to the data: https://mred.stats.10kresearch.com/infoserv/s-v1/vwxJ-5gH

3. Median Sales price for small multifamiles in Chicagoland went up about 11.2% over the past 12 months as of November 2024. Here's a link to the data: https://mred.stats.10kresearch.com/infoserv/s-v1/vwxv-Zs5

What this data shows at a Macro level is that the Chicago market is doing fine, but the market is too large to use that data to make any decisions about where you want to house hack. In my opinion the best way to house hack is to purchase a multifamily where you can live in one unit while renting out the rest. The decision you must make is where do you want to live from a lifestyle perspective. We've had clients over the years who love Bronzeville & Hyde Park and have purchased large buildings with condo quality finishes or updated the buildings & are cash flowing while living in the building. While other clients prefer the Northside or are looking at the gentrifying Near West Side & others that want to live in the suburbs. The lifestyle question is one that you must determine, then narrow down what parts of Chicago provide you with that lifestyle, then we can really answer the question- How is the market doing in those specific neighborhoods?

Hi everyone I am 26 year old professional athlete looking to buy his first home but also house hack in the process. If Anyone has additional information on the Chicago market right now and some insight Id love to talk.