Your Guide To Chicago’s Top Neighborhoods
Pursuing a real estate investment career in a city as big as Chicago can seem daunting. After all, when it’s seemingly impossible to afford the ritzy row houses of Lincoln Park and even Andersonville is getting pricey, investment opportunities can seem slim.
The thing about real estate in a place like Chicago, though, is that it never goes out of style. Chicago is always brimming with real estate opportunity, from city renewal areas to rapidly expanding suburbs.
If you’re just getting your feet under you with Chicago real estate or if you’re an out-of-town investor, it pays to understand Chicago’s neighborhood layout — especially the suburbs.
Keep an eye out for these top urban and suburban areas as you peruse different real estate investing opportunities in and around Chicago.
Consistently ranked as one of the best suburbs in the Chicago area, Clarendon Hills has everything you want in a suburb. It’s safe, has great schools, has a nice but manageable downtown area, and is extremely family friendly.
If you’re looking to invest in a rental property, Clarendon Hills has a lot going for it. However, a lot of this area is comprised of homeowners. So, you might have better luck renting out a property in an area with more nightlife and young professionals roaming about.
South of Wicker Park and east of Humboldt Park, West Down is a relatively affordable area that is the new kid on the block. This is an excellent option if you’re interested in owning a rental property because of its location, access to amenities, and low crime rate. Millennials are flocking to West Town, and they’re mostly tenants rather than homeowners.
Less crowded than nearby Bucktown and Wicker Park, Logan Square is like the Goldilocks area of urban Chicago.
Logan Square is also one of the best options for investing in a rental property. That’s because median resale prices in Logan Square are a bit lower than the city’s average while rental prices are higher than average. It’s the perfect combination to make money on a rental unit.
If you’re looking for an area that’s more affordable for a real estate investment, look no further than Jefferson Park. This northwest neighborhood still has prices below the city and national average, but it’s a highly popular neighborhood. Thanks to its proximity to transportation and amenities, people are flocking to Jefferson Park and looking for places to live.
Buying foreclosures is one of the best ways to yield a high return on investment. Mount Greenwood has a relatively high number of foreclosures, but it’s still ranked as the fifth safest neighborhood in Chicago. So, you don’t have quite the same risk as you might if you buy a foreclosure in a different neighborhood.
Real Estate Coaching With Laura Alamery
If you’re serious about real estate investment opportunities in Chicago, working with real estate investing coach Laura Alamery is a great first step.
Laura can give you usable, effective strategies geared specifically toward the Chicago market. Register for a live event today in Chicago!