Real Estate Investing in Chicago, Illinois (60644)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60644 (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.
- Elevated vacancy: 9.5% vacancy may signal weakening demand.
- Flat appreciation: Values have barely moved over 5 years (0.9% CAGR).
- Elevated poverty: 28.1% poverty rate — can affect rent collection.
- Higher unemployment: 10.8% unemployment — tenant risk signal.
What’s happening in Chicago, IL (60644)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60644 Chicago
Investors eyeing 60644 need to respect the fundamentals at play. Home values of $221K come alongside slower price movement and elevated management overhead.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 60644 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
ZIP 60644'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.
Employment concentration in 60644 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 60644 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 60644
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $144,302 | $1,450 | 7.2% | +4.2% | $72,151 |
| 3BR | $201,101 | $1,870 | 6.7% | +2.6% | $67,034 |
| 4BR | $251,609 | $2,160 | 6.2% | +2.9% | $62,902 |
| 5BR | $296,214 | — | — | +4.4% | $59,243 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60644 Compare?
| Metric | 60644 | Chicago | Illinois |
|---|---|---|---|
| Home Value | $220,666 | $345,093 | $279,761 |
| 5-Year CAGR | 0.9% | 2.6% | 6.6% |
| Avg Rent | $1,523 | $2,056 | - |
| Cap Rate | 5.4% | 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 60644 (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 | $220,666 |
| Monthly Rent | $1,523 |
| Price-to-Rent | 12.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.3% |
| Cap Rate | 5.4% |
| 5-Year IRR | 6.3% |
📈 Home Appreciation
| 1-Year | +8.9% ▲ |
| 3-Year CAGR | +3.9% ▲ |
| 5-Year CAGR | +0.9% ▲ |
| 10-Year CAGR | +6.8% ▲ |
🏠 Rent Trends
| 1-Year | +22.3% ▲ |
| 3-Year CAGR | +10.9% ▲ |
| 5-Year CAGR | +9.6% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (5.4%). 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 60644
Population: 48,317
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 60644
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 2,399 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What type of investing works in Chicago, IL?
A careful cash-flow rentals with hands-on management strategy Chicago, IL best. The market produces steady results for that approach at the $221K price point.
How landlord-friendly is Chicago, IL?
The landlord environment in Chicago, IL is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
Should investors consider Chicago, IL?
The 3.0/5 investability rating in Chicago, IL reflects its $221K prices and $1,523/mo rents. Investors generally consider it a solid option within IL.
Can I live-in-and-rent in Chicago, IL?
House hacking in Chicago, IL is a challenging. With home values around $221K and rents at $1,523/mo, owner-occupants can offset a meaningful share of PITI.
How high is vacancy risk in Chicago, IL?
Vacancy risk in Chicago, IL is elevated. That supports even-keeled cash flow for typical rental holds.
You know 60644 now. You don’t know where it ranks.
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How 60644 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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