Real Estate Investing in Chicago, Illinois (60653)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60653 (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.
- Flat appreciation: Values have barely moved over 5 years (0.4% CAGR).
- Elevated poverty: 24.5% poverty rate — can affect rent collection.
- Higher unemployment: 10.0% unemployment — tenant risk signal.
- Lower household income: $35,136 median — tenant affordability is tighter.
What’s happening in Chicago, IL (60653)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60653 Chicago
The 60653 ZIP covers a section of Chicago that demands careful diligence. Prices near $336K look accessible, but the work to make a deal cash flow is real.
From an investor standpoint, the numbers look inviting — $336K purchase price, 0.0% nominal cap — the work to hit that pro forma in 60653 is substantial and deserves full respect.
Nearby ZIPs in Chicago have seen price recovery that 60653 has not matched. Cook County data supports the view that the spread is structural rather than temporary.
Demographically, 60653 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Strategically, 60653 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Chicago:
Property Strategy for 60653
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $241,137 | $1,360 | 4.1% | +3.6% | $120,568 |
| 3BR | $328,259 | $1,750 | 3.8% | +2.9% | $109,420 |
| 4BR | $454,515 | $2,030 | 3.2% | +3.9% | $113,629 |
| 5BR | $576,960 | — | — | +4.0% | $115,392 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60653 Compare?
| Metric | 60653 | Chicago | Illinois |
|---|---|---|---|
| Home Value | $336,317 | $345,093 | $279,761 |
| 5-Year CAGR | 0.4% | 2.6% | 6.6% |
| Avg Rent | $1,982 | $2,056 | - |
| Cap Rate | 4.6% | 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 60653 (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 | $336,317 |
| Monthly Rent | $1,982 |
| Price-to-Rent | 14.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.1% |
| Cap Rate | 4.6% |
| 5-Year IRR | 5.0% |
📈 Home Appreciation
| 1-Year | +7.1% ▲ |
| 3-Year CAGR | +1.4% ▲ |
| 5-Year CAGR | +0.4% ▲ |
| 10-Year CAGR | +3.9% ▲ |
🏠 Rent Trends
| 1-Year | -7.4% ▼ |
| 3-Year CAGR | +2.2% ▲ |
| 5-Year CAGR | +3.9% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.6%). 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 60653
Population: 34,608
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 60653
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
Frequently Asked Questions
Is Chicago, IL better for rentals, flips, or BRRRR?
A careful cash-flow rentals with hands-on management strategy Chicago, IL best. The market produces consistent results for that approach at the $336K price point.
How much is rent in Chicago, IL?
The typical rental in Chicago, IL commands about $1,982/mo monthly. That rent profile reliable cash flow against the $336K purchase basis.
Does a duplex house hack pencil in Chicago, IL?
Chicago, IL offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $1,982/mo rent level.
Are landlord laws favorable in Chicago, IL?
IL law landlord-friendly for landlords, and Chicago inherits those rules. Investors should still review local ordinances for rental licensing.
What kind of tenants rent in Chicago, IL?
Expect a solid tenant pool in Chicago, IL. The rental market absorbs $1,982/mo rents without meaningful friction.
You know 60653 now. You don’t know where it ranks.
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How 60653 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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