Real Estate Investing in Chicago, Illinois (60641)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60641 (Chicago, IL)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 8.1% vacancy may signal weakening demand.
What’s happening in Chicago, IL (60641)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60641 Chicago
Investors eyeing 60641 need to respect the fundamentals at play. Home values of $421K come alongside slower price movement and elevated management overhead.
For an experienced owner, 60641 can be a a credible choice for hunting ground — but the discount at $421K reflects genuine risk that outside investors often underestimate.
ZIP 60641'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.
A durable renter share of 46% in 60641 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Distressed ZIPs reward experience. substantial returns are possible in 60641, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Chicago:
Property Strategy for 60641
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $177,275 | $1,530 | 6.2% | +5.4% | $177,275 |
| 2BR | $300,090 | $1,720 | 4.1% | +6.4% | $150,045 |
| 3BR | $388,168 | $2,210 | 4.1% | +5.4% | $129,389 |
| 4BR | $481,530 | $2,560 | 3.8% | +5.3% | $120,383 |
| 5BR | $536,832 | — | — | +5.4% | $107,366 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60641 Compare?
| Metric | 60641 | Chicago | Illinois |
|---|---|---|---|
| Home Value | $421,402 | $345,093 | $279,761 |
| 5-Year CAGR | 5.1% | 2.6% | 6.6% |
| Avg Rent | $1,800 | $2,056 | - |
| Cap Rate | 3.3% | 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 60641 (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 | $421,402 |
| Monthly Rent | $1,800 |
| Price-to-Rent | 19.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.1% |
| Cap Rate | 3.3% |
| 5-Year IRR | 8.4% |
📈 Home Appreciation
| 1-Year | +11.1% ▲ |
| 3-Year CAGR | +7.3% ▲ |
| 5-Year CAGR | +5.1% ▲ |
| 10-Year CAGR | +5.6% ▲ |
🏠 Rent Trends
| 1-Year | +1.1% ▲ |
| 3-Year CAGR | +5.3% ▲ |
| 5-Year CAGR | +6.0% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.3%). 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 60641
Population: 67,400
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 60641
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 1,965 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Chicago in IL worth investing in?
Chicago, IL rates 3.0/5 for investability. With median values at $421K and rents near $1,800/mo, the market offers reasonable fundamentals for rental investors.
How tight is the rental market in Chicago, IL?
Chicago, IL sees elevated vacancy, which is reasonable relative to the broader IL rental market.
What is the typical rental rate in Chicago, IL?
Expect rents around $1,800/mo per month in Chicago, IL. With home values at $421K, the yield math works out to reasonable levels for rental investors.
Is house hacking profitable in Chicago, IL?
For house hackers, Chicago, IL is a challenging. The $1,800/mo rent on a unit helps defray the mortgage on a $421K property.
What is the smart move for investors in Chicago, IL?
A careful cash-flow rentals with hands-on management strategy Chicago, IL best. The market produces reliable results for that approach at the $421K price point.
You know 60641 now. You don’t know where it ranks.
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How 60641 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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