Real Estate Investing in Chicago, Illinois (60659)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60659 (Chicago, IL)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 8.7% vacancy may signal weakening demand.
What’s happening in Chicago, IL (60659)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60659 Chicago
Not every below-median market is a bargain. Chicago's 60659 ZIP registers signals that favor experienced operators who can absorb the risk $374K pricing implies.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $374K asset, 60659 is the wrong submarket. If the plan prices in friction, the yield can still work.
Nearby ZIPs in Chicago have seen price recovery that 60659 has not matched. Cook County data supports the view that the spread is structural rather than temporary.
In practical terms, 42,008 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
The right play in 60659 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 60659
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $141,051 | $1,620 | 8.3% | +6.0% | $141,051 |
| 2BR | $214,981 | $1,830 | 6.1% | +4.9% | $107,490 |
| 3BR | $419,323 | $2,360 | 4.1% | +5.3% | $139,774 |
| 4BR | $532,491 | $2,730 | 3.7% | +4.7% | $133,123 |
| 5BR | $629,655 | — | — | +5.3% | $125,931 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60659 Compare?
| Metric | 60659 | Chicago | Illinois |
|---|---|---|---|
| Home Value | $374,409 | $345,093 | $279,761 |
| 5-Year CAGR | 3.4% | 2.6% | 6.6% |
| Avg Rent | $1,799 | $2,056 | - |
| Cap Rate | 3.8% | 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 60659 (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 | $374,409 |
| Monthly Rent | $1,799 |
| Price-to-Rent | 17.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.8% |
| Cap Rate | 3.8% |
| 5-Year IRR | 7.1% |
📈 Home Appreciation
| 1-Year | +11.6% ▲ |
| 3-Year CAGR | +5.0% ▲ |
| 5-Year CAGR | +3.4% ▲ |
| 10-Year CAGR | +3.7% ▲ |
🏠 Rent Trends
| 1-Year | +0.1% ▲ |
| 3-Year CAGR | +4.8% ▲ |
| 5-Year CAGR | +5.9% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.8%). 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 60659
Population: 42,008
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 60659
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Alcott College Prep
Chute Middle School
Cleveland Elem School
Courtenay Elem Language Arts Ctr
Dawes 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
What kind of market is Chicago, IL for investors?
Investors tracking Chicago, IL will find a 3.0/5 rating supported by $374K median home values and $1,799/mo rents. That profile suits long-term holders targeting reliable returns.
What approach is best for Chicago, IL real estate?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Chicago, IL. The numbers - $374K homes against $1,799/mo rents - support that play.
How strong are rents in Chicago, IL?
Investors in Chicago, IL typically see rents near $1,799/mo per month against $374K home values - a solid setup for rental cash flow.
How strict are landlord regulations in Chicago, IL?
Chicago, IL operates under IL law, which is landlord-friendly overall for landlords. Expect consistent treatment in typical lease and eviction cases.
How tight is the rental market in Chicago, IL?
Vacancy risk in Chicago, IL is elevated. That supports reliable cash flow for typical rental holds.
You know 60659 now. You don’t know where it ranks.
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How 60659 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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