Real Estate Investing in Chicago, Illinois (60661)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60661 (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.
- Flat appreciation: Values have barely moved over 5 years (0.1% CAGR).
What’s happening in Chicago, IL (60661)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60661 Chicago
ZIP 60661 in Chicago, IL carries a solid set of headwinds. Home values near $355K and rents of $2,640/mo sit inside a market where underwriting has to be tight.
For an experienced owner, 60661 can be a worth a close look for hunting ground — but the discount at $355K reflects genuine risk that outside investors often underestimate.
Within IL, ZIP 60661 trails on several market indicators that neighboring Cook County submarkets outperform. The gap is real and substantial enough to shape underwriting.
Resident income in 60661 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Strategically, 60661 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 60661
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $310,427 | $2,370 | 5.5% | +0.2% | $310,427 |
| 2BR | $462,633 | $2,670 | 4.2% | -0.3% | $231,317 |
| 3BR | $812,454 | $3,440 | 3.0% | +1.7% | $270,818 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60661 Compare?
| Metric | 60661 | Chicago | Illinois |
|---|---|---|---|
| Home Value | $354,599 | $345,093 | $279,761 |
| 5-Year CAGR | 0.1% | 2.6% | 6.6% |
| Avg Rent | $2,640 | $2,056 | - |
| Cap Rate | 5.8% | 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 60661 (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 | $354,599 |
| Monthly Rent | $2,640 |
| Price-to-Rent | 11.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.9% |
| Cap Rate | 5.8% |
| 5-Year IRR | 5.9% |
📈 Home Appreciation
| 1-Year | +7.2% ▲ |
| 3-Year CAGR | +0.8% ▲ |
| 5-Year CAGR | +0.1% ▲ |
| 10-Year CAGR | -1.7% ▼ |
🏠 Rent Trends
| 1-Year | +2.3% ▲ |
| 3-Year CAGR | +2.1% ▲ |
| 5-Year CAGR | +3.0% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (5.8%). 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 60661
Population: 11,516
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 60661
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Cather Elem School
Chopin Elem School
De Diego Elem Community Academy
Dunbar Vocational Career Acad HS
Newberry Elem Math & Science Acad
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 3,519 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What are vacancy rates like in Chicago, IL?
Vacancy in Chicago, IL is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $2,640/mo.
Does Chicago, IL favor landlords or tenants?
Rental owners in Chicago, IL deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
How qualified is the tenant pool in Chicago, IL?
Expect a solid tenant pool in Chicago, IL. The rental market absorbs $2,640/mo rents without meaningful friction.
What real estate strategy is ideal for Chicago, IL?
For Chicago, IL, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
What is the median home value in Chicago, IL?
Expect median prices around $355K in Chicago, IL. The market has run at a 0.0% 5-year CAGR, so entry costs have been steady.
You know 60661 now. You don’t know where it ranks.
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How 60661 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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