Real Estate Investing in Chicago, Illinois (60607)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60607 (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: 11.7% vacancy may signal weakening demand.
- Flat appreciation: Values have barely moved over 5 years (0.6% CAGR).
What’s happening in Chicago, IL (60607)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60607 Chicago
This part of Cook County is not an easy win. The 60607 ZIP records softness in key indicators, and the playbook that works in cleaner markets often stalls here.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $458K asset, 60607 is the wrong submarket. If the plan prices in friction, the yield can still work.
Turning to rents, 60607 offers a low basis, the region around Chicago has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
From an investor standpoint, 30,197 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Strategy in 60607 is an operator game, not a passive one. Looking more closely, entry prices of $458K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Chicago:
Property Strategy for 60607
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $314,914 | $2,370 | 5.4% | +2.3% | $314,914 |
| 2BR | $465,246 | $2,670 | 4.1% | +1.4% | $232,623 |
| 3BR | $781,820 | $3,440 | 3.2% | +2.5% | $260,607 |
| 4BR | $1,261,574 | $3,980 | 2.3% | +3.7% | $315,393 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60607 Compare?
| Metric | 60607 | Chicago | Illinois |
|---|---|---|---|
| Home Value | $457,545 | $345,093 | $279,761 |
| 5-Year CAGR | 0.6% | 2.6% | 6.6% |
| Avg Rent | $2,992 | $2,056 | - |
| Cap Rate | 5.1% | 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 60607 (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 | $457,545 |
| Monthly Rent | $2,992 |
| Price-to-Rent | 12.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.9% |
| Cap Rate | 5.1% |
| 5-Year IRR | 5.7% |
📈 Home Appreciation
| 1-Year | +14.3% ▲ |
| 3-Year CAGR | +3.0% ▲ |
| 5-Year CAGR | +0.6% ▲ |
| 10-Year CAGR | +0.2% ▲ |
🏠 Rent Trends
| 1-Year | +2.7% ▲ |
| 3-Year CAGR | +3.5% ▲ |
| 5-Year CAGR | +4.0% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (5.1%). 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 60607
Population: 30,197
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 60607
Schools in This ZIP Code
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
Ogden Int High School
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 5,794 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Should investors worry about vacancy in Chicago, IL?
Chicago, IL sees elevated vacancy, which is reasonable relative to the broader IL rental market.
What is the typical home price in Chicago, IL?
Homes in Chicago, IL typically sell near $458K. Prices have moved at a 0.0% 5-year CAGR, which consistent long-term demand.
What do rentals go for in Chicago, IL?
Average rent in Chicago, IL is approximately $2,992/mo per month. Against $458K home values that yields a reasonable rent-to-price ratio.
Which real estate strategy fits Chicago, IL?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Chicago, IL. The numbers - $458K homes against $2,992/mo rents - support that play.
How strong is Chicago, IL for real estate investors?
Chicago, IL scores 3.0/5 for investability. Home values sit at $458K and rents near $2,992/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
You know 60607 now. You don’t know where it ranks.
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How 60607 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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