Real Estate Investing in Chicago, Illinois (60606)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60606 (Chicago, IL)? Our answer, based on the numbers below.
Mixed — values have been flat. OK for long-horizon buyers, less attractive if you may need to sell soon.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- Elevated vacancy: 11.0% vacancy may signal weakening demand.
- Flat appreciation: Values have barely moved over 5 years (1.4% CAGR).
What’s happening in Chicago, IL (60606)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60606 Chicago
Not every below-median market is a bargain. Chicago's 60606 ZIP stands at signals that favor experienced operators who can absorb the risk $345K pricing implies.
Distressed markets are won on execution, not on spreadsheets. ZIP 60606 records the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Within IL, ZIP 60606 trails on several market indicators that neighboring Cook County submarkets outperform. The gap is real and durable enough to shape underwriting.
Resident income in 60606 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The 60606 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Chicago:
Property Strategy for 60606
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $276,481 | $2,370 | 6.2% | +1.5% | $276,481 |
| 2BR | $385,792 | $2,670 | 5.0% | -0.7% | $192,896 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60606 Compare?
| Metric | 60606 | Chicago | Illinois |
|---|---|---|---|
| Home Value | $344,545 | $345,093 | $279,761 |
| 5-Year CAGR | 1.4% | 2.6% | 6.6% |
| Avg Rent | $2,789 | $2,056 | - |
| Cap Rate | 6.3% | 5.1% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 60606 (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 | $344,545 |
| Monthly Rent | $2,789 |
| Price-to-Rent | 10.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.7% |
| Cap Rate | 6.3% |
| 5-Year IRR | 7.7% |
📈 Home Appreciation
| 1-Year | +13.9% ▲ |
| 3-Year CAGR | +4.5% ▲ |
| 5-Year CAGR | +1.4% ▲ |
| 10-Year CAGR | -0.9% ▼ |
🏠 Rent Trends
| 1-Year | +2.5% ▲ |
| 3-Year CAGR | +2.7% ▲ |
| 5-Year CAGR | +3.6% ▲ |
The current 30-yr mortgage rate (6.8%) is close to the estimated cap rate (6.3%). Financing this market at current rates produces a cash-on-cash return near the cap rate. Appreciation and tax benefits may still support the investment.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 60606
Population: 3,527
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 60606
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Cather Elem School
Chopin Elem School
De Diego Elem Community Academy
Dunbar Vocational Career Acad HS
Newberry Elem Math & Science Acad
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
Frequently Asked Questions
Are rents high in Chicago, IL?
Chicago, IL rentals go for roughly $2,789/mo a month. That puts gross yield in solid territory relative to $345K acquisition costs.
What is the typical renter like in Chicago, IL?
Tenant quality in Chicago, IL ranks as solid. Landlords generally report even-keeled occupancy at market rents of $2,789/mo.
What investment strategy works best in Chicago, IL?
Most investors in Chicago, IL run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
What is the rental occupancy rate in Chicago, IL?
Chicago, IL vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
What is the median home value in Chicago, IL?
Typical homes in Chicago, IL go for around $345K. The 5-year CAGR of 0.0% reliable price movement.
You know 60606 now. You don’t know where it ranks.
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How 60606 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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