Chicago offers a fertile ground for those seeking to capitalize on the next big thing in real estate. From historic districts undergoing revitalization to hidden gems on the brink of transformation, the Windy City boasts lots of promising neighborhoods primed for investment.
But how do you choose the right areas of town? We're here to help.
Let's go through the top Chicago neighborhoods you should consider when you're real estate investing.
South Loop
Your first stop when you're looking for a rental property in Chicago is the South Loop. The South Loop has experienced significant redevelopment in recent years, with new residential and commercial buildings transforming the neighborhood.
There are still opportunities for further development, particularly in areas that have not yet reached their full potential.
Logan Square
Found in the northwest part of Chicago, Logan Square offers excellent accessibility to downtown and other parts of the city.
It's well-served by public transportation, including the Blue Line, which provides easy access to the Loop and O'Hare International Airport.
Logan Square features historic architecture to greystones, Victorian-era homes, and vintage apartment buildings. These properties often hold value and appeal to renters and buyers seeking unique and charming living spaces.
Bronzeville
Bronzeville has a rich cultural and historical heritage, particularly as a center of African American culture and arts during the early to mid-20th century. It was home to prominent figures like Louis Armstrong, Ida B. Wells, and Gwendolyn Brooks.
This historical significance adds to the neighborhood's appeal and potential for preservation and revitalization efforts.
Compared to some other neighborhoods in Chicago, Bronzeville often offers more affordable real estate prices, including both rental properties and homes for sale. This affordability can attract investors looking for opportunities for appreciation and rental income.
Once you've bought the Bronzeville property, you'll want to hire a property management company to keep things going smoothly.
Jefferson Park
Compared to some other neighborhoods in Chicago, Jefferson Park often offers more affordable real estate prices, including single-family homes, condos, and multi-unit buildings. This affordability can make it easier for investors to enter the market and quickly get positive cash flow.
Jefferson Park has historically been a stable residential neighborhood with steady property values. While it may not experience the same level of rapid appreciation as some other areas in Chicago, its stability can provide a sense of security for investors seeking long-term growth and income.
West Town
West Town boasts a vibrant commercial corridor along bustling streets like Division Street, Chicago Avenue, and Milwaukee Avenue.
The neighborhood is home to an eclectic mix of restaurants, bars, cafes, boutiques, galleries, and entertainment venues, creating a dynamic urban environment that appeals to residents and visitors alike.
Real Estate Investing: Choose the Right Neighbourhoods Today
Now that you know the top neighborhoods in Chicago for property, it's time to jump into the world of real estate investing.
Do you need property managers in Chicago? Chicago Style Management is dedicated to our four major points of emphasis - the investors, the tenants, our employees, and the city. That's why we're so helpful to Chicago landlords like you!
Give us a call today.
