Real Estate Investing in Chicago, Illinois (60657)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60657 (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 (60657)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60657 Chicago
Not every below-median market is a bargain. Chicago's 60657 ZIP registers signals that favor experienced operators who can absorb the risk $550K pricing implies.
From a cash-flow lens, the numbers look inviting — $550K purchase price, 0.0% nominal cap — the work to hit that pro forma in 60657 is substantial and deserves full respect.
ZIP 60657'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.
Who lives in 60657 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
trends toward the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Chicago:
Property Strategy for 60657
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $260,151 | $2,370 | 6.6% | +4.5% | $260,151 |
| 2BR | $476,438 | $2,670 | 4.0% | +4.4% | $238,219 |
| 3BR | $768,658 | $3,440 | 3.2% | +4.5% | $256,219 |
| 4BR | $1,203,734 | $3,980 | 2.4% | +4.0% | $300,934 |
| 5BR | $1,975,656 | — | — | +4.4% | $395,131 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60657 Compare?
| Metric | 60657 | Chicago | Illinois |
|---|---|---|---|
| Home Value | $549,532 | $345,093 | $279,761 |
| 5-Year CAGR | 5.6% | 2.6% | 6.6% |
| Avg Rent | $2,559 | $2,056 | - |
| Cap Rate | 3.6% | 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 60657 (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 | $549,532 |
| Monthly Rent | $2,559 |
| Price-to-Rent | 17.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.6% |
| Cap Rate | 3.6% |
| 5-Year IRR | 9.2% |
📈 Home Appreciation
| 1-Year | +18.0% ▲ |
| 3-Year CAGR | +8.5% ▲ |
| 5-Year CAGR | +5.6% ▲ |
| 10-Year CAGR | +3.1% ▲ |
🏠 Rent Trends
| 1-Year | +9.8% ▲ |
| 3-Year CAGR | +7.6% ▲ |
| 5-Year CAGR | +8.4% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.6%). 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 60657
Population: 71,268
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 60657
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Alcott College Prep
Chase Elem School
Chopin Elem School
Cleveland Elem School
Courtenay Elem Language Arts Ctr
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 2,133 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the typical rental rate in Chicago, IL?
Rental rates in Chicago, IL average $2,559/mo. Tenant demand and $550K home values make the yield look reasonable by investor standards.
What is the tenant pool like in Chicago, IL?
The renter base in Chicago, IL is reasonable for the $2,559/mo price point. Screening well and pricing to market typically yields steady tenants.
Are homes affordable in Chicago, IL?
The median home value in Chicago, IL is roughly $550K. That puts it reasonable relative to the IL statewide average.
What type of investing works in Chicago, IL?
The best-fit strategy in Chicago, IL is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
Can I house hack in Chicago, IL?
House hacking works a challenging in Chicago, IL. Rents of $2,559/mo against $550K acquisition make the strategy solid for owner-occupants.
You know 60657 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 60657 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 60657 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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