Real Estate Investing in Chicago, Illinois (60601)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60601 (Chicago, IL)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 14.6% of homes vacant — above national norms.
- Flat appreciation: Values have barely moved over 5 years (1.2% CAGR).
What’s happening in Chicago, IL (60601)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60601 Chicago
ZIP 60601 in Chicago, IL carries a robust set of headwinds. Home values near $411K and rents of $3,044/mo sit inside a market where underwriting has to be tight.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $411K asset, 60601 is the wrong submarket. If the plan prices in friction, the yield can still work.
Within IL, ZIP 60601 trails on several market indicators that neighboring Cook County submarkets outperform. The gap is real and notable enough to shape underwriting.
Employment concentration in 60601 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategically, 60601 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Chicago:
Property Strategy for 60601
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $353,610 | $2,370 | 4.8% | +0.2% | $353,610 |
| 2BR | $588,670 | $2,670 | 3.3% | -1.4% | $294,335 |
| 3BR | $1,375,352 | $3,440 | 1.8% | -1.3% | $458,451 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60601 Compare?
| Metric | 60601 | Chicago | Illinois |
|---|---|---|---|
| Home Value | $410,666 | $345,093 | $279,761 |
| 5-Year CAGR | 1.2% | 2.6% | 6.6% |
| Avg Rent | $3,044 | $2,056 | - |
| Cap Rate | 5.8% | 5.1% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 60601 (Chicago, IL). Anonymous, moderated, never written by AI.
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Property managers serving Cook County
Manage rentals here? List your business →American Property Management of Illinois, Inc. (Associa) provides comprehensive HOA and condominium management services in Chicago and surrounding areas. summary from their website
Blackhawk Realty Management, LLC provides professional property management and real estate services for its multifamily apartment portfolio, founded in 2004. summary from their website
Buckingham Property Management, Inc. offers apartment rentals and management services. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $410,666 |
| Monthly Rent | $3,044 |
| Price-to-Rent | 11.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.9% |
| Cap Rate | 5.8% |
| 5-Year IRR | 7.0% |
📈 Home Appreciation
| 1-Year | +16.3% ▲ |
| 3-Year CAGR | +6.0% ▲ |
| 5-Year CAGR | +1.2% ▲ |
| 10-Year CAGR | -0.5% ▼ |
🏠 Rent Trends
| 1-Year | -0.9% ▼ |
| 3-Year CAGR | +2.1% ▲ |
| 5-Year CAGR | +3.3% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (5.8%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 60601
Population: 16,292
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 60601
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Dunbar Vocational Career Acad HS
Newberry Elem Math & Science Acad
Ogden Int High School
Otis Elem School
Pershing Elem Humanities Magnet
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,488 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the typical home price in Chicago, IL?
In Chicago, IL the median home value sits at $411K. Against the broader IL market, that reads as reasonable for most investors.
Is IL a landlord-friendly state?
Landlord-friendliness in Chicago, IL is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Does house hacking make sense in Chicago, IL?
House hacking in Chicago, IL is reasonable to execute. Prices around $411K and rents of $3,044/mo solid owner-occupant economics.
What kind of vacancy should I budget for in Chicago, IL?
Occupancy in Chicago, IL runs steady with elevated vacancy. Well-priced units at $3,044/mo lease on reasonable timelines.
Are rents high in Chicago, IL?
Rents in Chicago, IL run near $3,044/mo. Compared with median home prices of $411K that produces solid gross yields for typical rentals.
You know 60601 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 60601 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 60601 ranks in Chicago-Naperville-Elgin, IL-IN-WI
Every ZIP in this metro, ranked. Free.
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