Real Estate Investing in Chicago, Illinois (60645)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60645 (Chicago, IL)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
No major risk flags on the data we track.
What’s happening in Chicago, IL (60645)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60645 Chicago
Not every below-median market is a bargain. Chicago's 60645 ZIP registers signals that favor experienced operators who can absorb the risk $324K pricing implies.
On balance, the numbers look inviting — $324K purchase price, 0.0% nominal cap — the work to hit that pro forma in 60645 is substantial and deserves full respect.
The gap between 60645 and stronger Chicago ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Who lives in 60645 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The right play in 60645 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 60645
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $150,329 | $1,710 | 8.2% | +6.2% | $150,329 |
| 2BR | $209,939 | $1,930 | 6.6% | +6.1% | $104,969 |
| 3BR | $394,987 | $2,490 | 4.5% | +5.6% | $131,662 |
| 4BR | $555,823 | $2,880 | 3.7% | +5.1% | $138,956 |
| 5BR | $703,852 | — | — | +5.7% | $140,770 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60645 Compare?
| Metric | 60645 | Chicago | Illinois |
|---|---|---|---|
| Home Value | $324,428 | $345,093 | $279,761 |
| 5-Year CAGR | 4.0% | 2.6% | 6.6% |
| Avg Rent | $1,890 | $2,056 | - |
| Cap Rate | 4.5% | 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 60645 (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 | $324,428 |
| Monthly Rent | $1,890 |
| Price-to-Rent | 14.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.0% |
| Cap Rate | 4.5% |
| 5-Year IRR | 8.5% |
📈 Home Appreciation
| 1-Year | +13.7% ▲ |
| 3-Year CAGR | +6.3% ▲ |
| 5-Year CAGR | +4.0% ▲ |
| 10-Year CAGR | +3.9% ▲ |
🏠 Rent Trends
| 1-Year | +8.3% ▲ |
| 3-Year CAGR | +7.3% ▲ |
| 5-Year CAGR | +7.6% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.5%). 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 60645
Population: 46,856
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 60645
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Chute Middle School
Courtenay Elem Language Arts Ctr
Dawes Elementary School
East Prairie Elem School
Highland Elementary 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 649 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?
Chicago, IL rates 3.0/5 for investability. With median values at $324K and rents near $1,890/mo, the market offers reasonable fundamentals for rental investors.
What do landlords charge for rent in Chicago, IL?
Rent in Chicago, IL is around $1,890/mo. The resulting rent-to-value relationship with $324K pricing is reasonable for most investor models.
What is it like being a landlord 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.
Is Chicago, IL suited for a house hack?
The a challenging house-hack environment in Chicago, IL reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
How quickly do rentals get leased in Chicago, IL?
Chicago, IL carries elevated vacancy risk. Expect even-keeled absorption at market rents of $1,890/mo.
You know 60645 now. You don’t know where it ranks.
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How 60645 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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