what is the best neighborhood for buying investment property in chicago- market trends? and what type of investment property is best return?

Asked by Pam, Round Lake Beach, IL Sat Feb 9, 2013

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12
user72742400, Other Pro, 60107, IL
Mon Apr 18, 2016
I purchased a lot of properties in Streamwood, IL because village was super friendly but in last 6 -8 months, Village of Streamwood only goal is to make money from permits, put additional burden on investors / landlord, and basically lot of investors I know in Streamwood is either selling what they have or stop buying in Streamwood and investing in other Villages who are friendly for investors / landlord.
Village is Streamwood code enforcement officers (Adam Garcia and John Peterson) are also coming after investors after you purchase property and putting orange sticker on door and basically they want access to your home so they can write long laundry list of items they want you to fix and lot of stuff is so minor that you can do on your own but instead they make you hire license general contractors which will cost you 4 times then doing on your own or a skilled handyman who is not insured but knows a lot. Another reason Village if Streamwood make you hire lic. General contractors because these contractor need to register with village and have to pay registration fee ranging $100 - $200. So no only they want money from investors but they also want money from other parties. From each home, I approximately, village is collecting around $400 to $800. In nut shell, Village of Streamwood is very unfriendly for investors / landlord. I started to buy in Des Plains, Arlington Hts and other adjoining town because Village is super friendly there.
1 vote
Joe Schiller, Agent, Chicago, IL
Mon Feb 11, 2013
close to blue line or red line south loop or multi unit north side
1 vote
Sidney, Home Buyer, Chicago, IL
Mon Jul 3, 2017
As a fellow investor, I believe that Chicago is one of the best places to invest. Why? There are a range of price points you can access depending on the capital you have on hand.

For instance, you may want a more stable area and should look into the North side. It's higher to buy in but you can still reap great rewards. For us, we focus mainly in Southside Chicago. If you are interested in investing in the Southside be sure to find someone who is well versed in the local neighborhoods to help direct you toward a solid investment in a reasonably safe area.

Regarding what type of investment property, try and figure out your short-term and long-term goals. If you're looking for faster capital, it may be a good idea to a flip a few homes. If you're looking for consistent passive income, check out a single family home or smaller multiunit homes to get started.

For more helpful advice, feel free to get in touch http://www.kepler.properties
0 votes
Jeff Cee, Other Pro, Westchester, IL
Sun Jun 25, 2017
It's always based on what your goals are. Single family, multi-units, sought return, etc. Those factors determine what area you're going to invest. We'll help too at
http://Equityplushousedeals.com
Or
Http://Chicago-area-realestate-deals.weebly.com
0 votes
Fred, Home Buyer, Chicago, IL
Mon Nov 30, 2015
It depends what you are looking for and what your goals are. But there are many investment properties on the southside of Chicago. They offer good returns on investment in the form of monthly rents.. Check some of our investment properties in the Southside of Chicago, which are already rented out and generating income for investors: http://gcrealtyinvestments.com/turnkey-investment-properties/
0 votes
Randall Lanc…, Agent, Chicago, IL
Mon Feb 11, 2013
I would like to recommend that you utilize my free website at http://www.idealhomesinchicagoland.com. You will be able to search for properties throughout Chicago and the surrounding areas. My website features up to date information, so you will not be finding homes and properties that are no longer available like on some of the realty websites that you may be using. My website also offers an array of neighborhood and market information that can help you make your determination on homes and locations. My featured partners are industry leaders that can assist you in making any realty transaction easy and transparent. I welcome you to utilize this amazing tool. As always I will be available to answer any questions that you may have.
0 votes
Bill J Delig…, Agent, Naperville, IL
Sun Feb 10, 2013
Work with a Lender and Realtor to help you refine your goals. This is not an easy business and if not properly prepared you could lose a lot of $$$.
Web Reference:  http://www.bjdhomes.com
0 votes
Would you be willing to work with a rookie investor. I have a huge financial support group. I need help finding and locking up good potentil investment properties. I get compensated quite well and would be willing to split comission with you in exchange for help.
Flag Thu Aug 22, 2013
Matt Laricy, Agent, Chicago, IL
Sun Feb 10, 2013
I would go in an area your familiar with. A good land lord is one who is familiar with his product. They know the neighborhood and are familiar with the clientele that will come with it. If you go into it uneducated, it typically wont end as a good investment for you.
0 votes
Philip Sencer, Agent, Chicago, IL
Sun Feb 10, 2013
There is no 'best'. It is a huge city and tons of suburbs. There are many good neighborhoods/burbs for price appreciation. Multi units probably gives the best ROI, yet single family houses at the right price and in the right areas could be very good. Condos have probably the least return, but also have the least maintenance for the owner to deal with.
Almost ALL markets are trending up, but the degree to which that is true can vary a lot.
0 votes
Jose Hernand…, Agent, Chicago, IL
Sat Feb 9, 2013
Multifamily has always been my favorite and the most safe investment in my opinion..There's fierce competition for some this properties in some areas. You may also want to consider single family homes in specific areas.

Jose Hernandez
Coldwell Banker
312-788-7079
ChicagoAgent312@gmail.com
0 votes
Mark Malave, Agent, Chicago, IL
Sat Feb 9, 2013
The higher the risk, the better the return. I believe that multifamily is best near an "L", lake and university.
0 votes
Lucid Realty…, Agent, Addison, IL
Sat Feb 9, 2013
There is no simple answer to this question. It all depends upon your risk tolerance and your financial goals. The riskier the investment the higher the potential return in general. You need a realtor who can work with you to establish metrics for evaluating properties and then use those to find the best investments for you.
Web Reference:  http://LucidRealty.com
0 votes
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