Real Estate Investing in Chicago, Illinois (60628)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60628 (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.
- High vacancy: 20.2% of homes vacant — above national norms.
- Flat appreciation: Values have barely moved over 5 years (0.6% CAGR).
- Higher unemployment: 10.2% unemployment — tenant risk signal.
What’s happening in Chicago, IL (60628)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60628 Chicago
ZIP 60628 inside Chicago, IL leans into a value-add thesis. Home values near $149K sit below the state median, and rents of $1,723/mo leave room for forced-equity plays.
Cap rate math of 0.0% understates the return here. Post-rehab, stabilized yields climb, and the 60628 ZIP's older housing stock gives operators the opportunity set to execute.
The an appealing option for piece of regional context is that nearby ZIPs with newer stock and higher basis have priced out of the value-add game. 60628 has not.
Turning to rents, incomes in 60628 sit below the county median, the tenant pool is deep and the demand for upgraded rental stock consistently outruns supply.
ZIP 60628 fits investors who can swing a hammer — or pay someone to swing one well. BRRRR, fix-and-flip, and fix-and-hold all work when the rehab scope is matched to the rent lift.
Here's what matters if you're considering buying a home in Chicago:
Property Strategy for 60628
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $112,472 | $1,490 | 9.5% | +5.9% | $56,236 |
| 3BR | $147,041 | $1,920 | 9.4% | +3.4% | $49,014 |
| 4BR | $170,638 | $2,220 | 9.4% | +4.3% | $42,660 |
| 5BR | $182,334 | — | — | +4.8% | $36,467 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60628 Compare?
| Metric | 60628 | Chicago | Illinois |
|---|---|---|---|
| Home Value | $148,745 | $345,093 | $279,761 |
| 5-Year CAGR | 0.6% | 2.6% | 6.6% |
| Avg Rent | $1,723 | $2,056 | - |
| Cap Rate | 9.0% | 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 60628 (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 | $148,745 |
| Monthly Rent | $1,723 |
| Price-to-Rent | 7.2:1 |
| 1% Rule | ✓ Passes |
💰 Return Metrics
| Gross Yield | 13.9% |
| Cap Rate | 9.0% |
| 5-Year IRR | 9.6% |
📈 Home Appreciation
| 1-Year | +4.6% ▲ |
| 3-Year CAGR | +2.5% ▲ |
| 5-Year CAGR | +0.6% ▲ |
| 10-Year CAGR | +7.8% ▲ |
🏠 Rent Trends
| 1-Year | +7.8% ▲ |
| 3-Year CAGR | +9.5% ▲ |
| 5-Year CAGR | +8.6% ▲ |
The estimated cap rate (9.0%) exceeds the current 30-yr mortgage rate (6.8%). When borrowing costs less than a property yields, leverage can increase your cash-on-cash return above the cap rate.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 60628
Population: 59,212
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 60628
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
Investor Insight: With 3,097 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What investment strategy works best in Chicago, IL?
For Chicago, IL, value-add and BRRRR deals is the standard investor playbook. The market structure makes it a reasonable default approach.
How much should I expect to pay for a home in Chicago, IL?
Homes in Chicago, IL typically sell near $149K. Prices have moved at a 0.0% 5-year CAGR, which reliable long-term demand.
Is real estate in Chicago, IL a good investment right now?
With a 4.0/5 investability score, Chicago, IL ranks as a solid market for rental property investors. Median prices of $149K and rents of $1,723/mo drive the underlying numbers.
Can investors hit the 1% rule in Chicago, IL?
Yes, many Chicago, IL properties clear the 1% rule. The rent-to-price ratio averages 1.16%, supported by $1,723/mo rents.
How much rent can I charge in Chicago, IL?
Rent in Chicago, IL is around $1,723/mo. The resulting rent-to-value relationship with $149K pricing is reasonable for most investor models.
You know 60628 now. You don’t know where it ranks.
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How 60628 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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