Real Estate Investing in Chicago, Illinois (60616)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60616 (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.
- Declining values: -0.2% 5-year CAGR — values have moved lower.
What’s happening in Chicago, IL (60616)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60616 Chicago
This part of Cook County is not an easy win. The 60616 ZIP clocks in at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Distressed markets are won on execution, not on spreadsheets. ZIP 60616 stands at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Within IL, ZIP 60616 trails on several market indicators that neighboring Cook County submarkets outperform. The gap is real and resilient enough to shape underwriting.
Employment concentration in 60616 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
The right play in 60616 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Chicago:
Property Strategy for 60616
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $251,722 | $1,750 | 5.0% | +2.3% | $251,722 |
| 2BR | $362,912 | $1,970 | 3.9% | +2.7% | $181,456 |
| 3BR | $462,439 | $2,540 | 4.0% | +3.6% | $154,146 |
| 4BR | $612,217 | $2,930 | 3.4% | +3.0% | $153,054 |
| 5BR | $634,954 | — | — | +3.1% | $126,991 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60616 Compare?
| Metric | 60616 | Chicago | Illinois |
|---|---|---|---|
| Home Value | $346,649 | $345,093 | $279,761 |
| 5-Year CAGR | N/A | 2.6% | 6.6% |
| Avg Rent | $1,858 | $2,056 | - |
| Cap Rate | 4.2% | 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 60616 (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 | $346,649 |
| Monthly Rent | $1,858 |
| Price-to-Rent | 15.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.4% |
| Cap Rate | 4.2% |
| 5-Year IRR | 3.9% |
📈 Home Appreciation
| 1-Year | +9.8% ▲ |
| 3-Year CAGR | +0.6% ▲ |
| 5-Year CAGR | -0.2% ▼ |
| 10-Year CAGR | +0.7% ▲ |
🏠 Rent Trends
| 1-Year | +5.8% ▲ |
| 3-Year CAGR | +5.0% ▲ |
| 5-Year CAGR | +4.5% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.2%). 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 60616
Population: 54,456
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 60616
Schools in This ZIP Code
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
What do rentals go for in Chicago, IL?
Expect rents around $1,858/mo per month in Chicago, IL. With home values at $347K, the yield math works out to reasonable levels for rental investors.
How do landlord-tenant laws work in Chicago, IL?
Chicago, IL operates under IL law, which is landlord-friendly overall for landlords. Expect steady treatment in typical lease and eviction cases.
Do landlords face vacancy issues in Chicago, IL?
Vacancy in Chicago, IL is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,858/mo.
Does a duplex house hack pencil in Chicago, IL?
Chicago, IL offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $1,858/mo rent level.
What strategy should investors use in Chicago, IL?
Chicago, IL investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($347K prices, $1,858/mo rents) make it a reasonable choice.
You know 60616 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 60616 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 60616 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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