Real Estate Investing in Chicago, Illinois (60655)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60655 (Chicago, IL)? Our answer, based on the numbers below.
Solid choice — stable market with a reasonable entry point and good rental backup if you ever need to move.
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 (60655)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60655 Chicago
The 60655 ZIP in Chicago, IL is a local-operator market. Outside capital chasing a $339K entry has to pair deep knowledge with the discount.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 60655 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Statewide comparisons place 60655 among IL's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
A notable renter share of 16% in 60655 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The 60655 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 60655
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $259,763 | $1,730 | 4.8% | +5.4% | $129,881 |
| 3BR | $314,141 | $2,230 | 5.1% | +4.3% | $104,714 |
| 4BR | $383,993 | $2,580 | 4.8% | +4.0% | $95,998 |
| 5BR | $432,458 | — | — | +3.7% | $86,492 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60655 Compare?
| Metric | 60655 | Chicago | Illinois |
|---|---|---|---|
| Home Value | $339,296 | $345,093 | $279,761 |
| 5-Year CAGR | 3.8% | 2.6% | 6.6% |
| Avg Rent | $1,895 | $2,056 | - |
| Cap Rate | 4.4% | 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 60655 (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 | $339,296 |
| Monthly Rent | $1,895 |
| Price-to-Rent | 14.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.7% |
| Cap Rate | 4.4% |
| 5-Year IRR | 8.2% |
📈 Home Appreciation
| 1-Year | +10.5% ▲ |
| 3-Year CAGR | +6.2% ▲ |
| 5-Year CAGR | +3.8% ▲ |
| 10-Year CAGR | +4.5% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.4%). 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 60655
Population: 27,794
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 60655
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Clissold Elem School
Columbus Manor Elem School
Everett F Kerr Middle School
Harnew Elem School
Veterans Memorial Middle Sch
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 1,196 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
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.
Does Chicago, IL make sense for an investment property?
The 3.0/5 investability rating in Chicago, IL reflects its $339K prices and $1,895/mo rents. Investors generally consider it a solid option within IL.
How strong is tenant demand in Chicago, IL?
Working renters make up the core of the Chicago, IL tenant base. The pool is reasonable for investors targeting long-term holds.
Does a duplex house hack pencil in Chicago, IL?
For house hackers, Chicago, IL is a challenging. The $1,895/mo rent on a unit helps defray the mortgage on a $339K property.
What price range are homes in Chicago, IL?
The median home value in Chicago, IL is roughly $339K. That puts it reasonable relative to the IL statewide average.
You know 60655 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 60655 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 60655 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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