Real Estate Investing in Chicago, Illinois (60646)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60646 (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.
No major risk flags on the data we track.
What’s happening in Chicago, IL (60646)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60646 Chicago
The 60646 ZIP in Chicago, IL is a local-operator market. Outside capital chasing a $562K entry has to pair deep knowledge with the discount.
The investment case in 60646 is resilient only for operators who understand what they are buying. A $562K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
In the broader IL picture, 60646 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
A healthy renter share of 19% in 60646 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The 60646 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Chicago:
Property Strategy for 60646
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $377,359 | $1,720 | 3.3% | +5.6% | $188,680 |
| 3BR | $503,028 | $2,210 | 3.2% | +5.2% | $167,676 |
| 4BR | $620,211 | $2,560 | 3.0% | +4.7% | $155,053 |
| 5BR | $814,221 | — | — | +5.1% | $162,844 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60646 Compare?
| Metric | 60646 | Chicago | Illinois |
|---|---|---|---|
| Home Value | $561,690 | $345,093 | $279,761 |
| 5-Year CAGR | 4.7% | 2.6% | 6.6% |
| Avg Rent | $2,005 | $2,056 | - |
| Cap Rate | 2.8% | 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 60646 (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 | $561,690 |
| Monthly Rent | $2,005 |
| Price-to-Rent | 23.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 7.5% |
📈 Home Appreciation
| 1-Year | +9.4% ▲ |
| 3-Year CAGR | +6.3% ▲ |
| 5-Year CAGR | +4.7% ▲ |
| 10-Year CAGR | +4.0% ▲ |
🏠 Rent Trends
| 1-Year | +8.0% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.8%). 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 60646
Population: 28,499
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 60646
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Edison Park Elem School
Fairview South Elementary School
Farnsworth Elem School
Lincoln Hall Middle School
Rutledge Hall 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 1,965 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How do home values compare in Chicago, IL?
Homes in Chicago, IL typically sell near $562K. Prices have moved at a 0.0% 5-year CAGR, which consistent long-term demand.
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.
How much rent can I charge in Chicago, IL?
Rents in Chicago, IL run near $2,005/mo. Compared with median home prices of $562K that produces solid gross yields for typical rentals.
Should investors consider Chicago, IL?
The 3.0/5 investability rating in Chicago, IL reflects its $562K prices and $2,005/mo rents. Investors generally consider it a solid option within IL.
What real estate strategy is ideal for Chicago, IL?
Chicago, IL investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($562K prices, $2,005/mo rents) make it a reasonable choice.
You know 60646 now. You don’t know where it ranks.
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How 60646 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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