Real Estate Investing in Chicago, Illinois (60642)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60642 (Chicago, IL)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Chicago, IL (60642)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60642 Chicago
Stepping back, ZIP 60642 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $586K median. It rewards specialists, not generalists.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $586K asset, 60642 is the wrong submarket. If the plan prices in friction, the yield can still work.
Statewide comparisons place 60642 among IL's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
The 60642 ZIP's population of 21,124 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that clocks in at the need for careful underwriting.
trends toward the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Chicago:
Property Strategy for 60642
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $320,604 | $2,370 | 5.3% | +2.5% | $320,604 |
| 2BR | $494,146 | $2,670 | 3.9% | +3.0% | $247,073 |
| 3BR | $714,504 | $3,440 | 3.5% | +3.6% | $238,168 |
| 4BR | $939,255 | $3,980 | 3.1% | +3.4% | $234,814 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60642 Compare?
| Metric | 60642 | Chicago | Illinois |
|---|---|---|---|
| Home Value | $585,646 | $345,093 | $279,761 |
| 5-Year CAGR | 3.0% | 2.6% | 6.6% |
| Avg Rent | $2,769 | $2,056 | - |
| Cap Rate | 3.7% | 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 60642 (Chicago, IL). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 60642 (Chicago, IL)?
~25 seconds · no account needed · your report is anonymous
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 | $585,646 |
| Monthly Rent | $2,769 |
| Price-to-Rent | 17.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.7% |
| Cap Rate | 3.7% |
| 5-Year IRR | 6.7% |
📈 Home Appreciation
| 1-Year | +11.9% ▲ |
| 3-Year CAGR | +4.6% ▲ |
| 5-Year CAGR | +3.0% ▲ |
| 10-Year CAGR | +2.2% ▲ |
🏠 Rent Trends
| 1-Year | +1.8% ▲ |
| 3-Year CAGR | +3.9% ▲ |
| 5-Year CAGR | +4.9% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.7%). 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 60642
Population: 21,124
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 60642
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Cather Elem School
Chase Elem School
Chopin Elem School
De Diego Elem Community Academy
Funston Elem 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 2,275 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How expensive is real estate in Chicago, IL?
Median home price in Chicago, IL is near $586K, with a 5-year CAGR of 0.0%. Prices have been stable and supportive of buy-and-hold strategies.
How do landlord-tenant laws work in Chicago, IL?
IL ranks as a landlord-friendly state for landlord-tenant law. Chicago generally follows the statewide framework, so landlords face reasonable operating rules.
What are vacancy rates like in Chicago, IL?
Chicago, IL sees elevated vacancy, which is reasonable relative to the broader IL rental market.
Does a duplex house hack pencil in Chicago, IL?
The a challenging house-hack environment in Chicago, IL reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
What is the tenant pool like in Chicago, IL?
Expect a solid tenant pool in Chicago, IL. The rental market absorbs $2,769/mo rents without meaningful friction.
You know 60642 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 60642 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 60642 ranks in Chicago-Naperville-Elgin, IL-IN-WI
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 60642 (Chicago)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 60642 (Chicago, IL).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.