Real Estate Investing in Chicago, Illinois (60637)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60637 (Chicago, IL)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 16.4% of homes vacant — above national norms.
- Flat appreciation: Values have barely moved over 5 years (0.7% CAGR).
- Elevated poverty: 25.2% poverty rate — can affect rent collection.
- Higher unemployment: 8.6% unemployment — tenant risk signal.
What’s happening in Chicago, IL (60637)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60637 Chicago
ZIP 60637 in Chicago, IL carries a robust set of headwinds. Home values near $248K and rents of $1,811/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 $248K asset, 60637 is the wrong submarket. If the plan prices in friction, the yield can still work.
ZIP 60637's metrics run below Cook County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Demographically, 60637 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
The right play in 60637 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 60637
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $155,638 | $1,360 | 6.3% | +2.3% | $155,638 |
| 2BR | $195,528 | $1,530 | 5.6% | +3.2% | $97,764 |
| 3BR | $248,078 | $1,970 | 5.7% | +3.5% | $82,693 |
| 4BR | $324,261 | $2,280 | 5.1% | +2.7% | $81,065 |
| 5BR | $532,104 | — | — | +3.2% | $106,421 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60637 Compare?
| Metric | 60637 | Chicago | Illinois |
|---|---|---|---|
| Home Value | $248,318 | $345,093 | $279,761 |
| 5-Year CAGR | 0.7% | 2.6% | 6.6% |
| Avg Rent | $1,811 | $2,056 | - |
| Cap Rate | 5.7% | 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 60637 (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 | $248,318 |
| Monthly Rent | $1,811 |
| Price-to-Rent | 11.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.8% |
| Cap Rate | 5.7% |
| 5-Year IRR | 6.4% |
📈 Home Appreciation
| 1-Year | +9.3% ▲ |
| 3-Year CAGR | +2.8% ▲ |
| 5-Year CAGR | +0.7% ▲ |
| 10-Year CAGR | +4.2% ▲ |
🏠 Rent Trends
| 1-Year | +9.8% ▲ |
| 3-Year CAGR | +6.4% ▲ |
| 5-Year CAGR | +6.2% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (5.7%). 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 60637
Population: 52,418
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 60637
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 1,192 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How strong is Chicago, IL for real estate investors?
The 3.0/5 investability rating in Chicago, IL reflects its $248K prices and $1,811/mo rents. Investors generally consider it a solid option within IL.
What type of investing works in Chicago, IL?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Chicago, IL. The numbers - $248K homes against $1,811/mo rents - support that play.
What do rentals go for in Chicago, IL?
The typical rental in Chicago, IL commands about $1,811/mo monthly. That rent profile reliable cash flow against the $248K purchase basis.
Where do home prices stand in Chicago, IL?
The median home value in Chicago, IL is roughly $248K. That puts it reasonable relative to the IL statewide average.
How strong is the working-renter base in Chicago, IL?
The tenant pool in Chicago, IL is solid, supported by local employment and population fundamentals. Rents of $1,811/mo are well-absorbed by the market.
You know 60637 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 60637 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 60637 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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