Real Estate Investing in Grant Park, Illinois (60940)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60940 (Grant Park, IL)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
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.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Grant Park, IL (60940)?
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Market Analysis: 60940 Grant Park
The 60940 ZIP in Grant Park, IL is a local-operator market. Outside capital chasing a $301K entry has to pair deep knowledge with the discount.
Put differently, the numbers look inviting — $301K purchase price, 0.0% nominal cap — the work to hit that pro forma in 60940 is substantial and deserves full respect.
The gap between 60940 and stronger Grant Park ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
A notable renter share of 16% in 60940 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategy in 60940 is an operator game, not a passive one. Looking more closely, entry prices of $301K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Grant Park:
Market Trends
Home Value History (with trend line)
📊 How Does 60940 Compare?
| Metric | 60940 | Grant Park | Kankakee, IL | Illinois |
|---|---|---|---|---|
| Home Value | $301,184 | $301,184 | N/A | $279,761 |
| 5-Year CAGR | 5.7% | 5.7% | N/A | 6.6% |
| Avg Rent | $1,278 | $1,278 | N/A | - |
| Cap Rate | 3.3% | 3.3% | - | - |
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 60940 (Grant Park, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $301,184 |
| Monthly Rent | $1,278 |
| Price-to-Rent | 19.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.1% |
| Cap Rate | 3.3% |
| 5-Year IRR | 9.0% |
📈 Home Appreciation
| 1-Year | +9.7% ▲ |
| 3-Year CAGR | +5.2% ▲ |
| 5-Year CAGR | +5.7% ▲ |
| 10-Year CAGR | +5.3% ▲ |
🏠 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 (3.3%). 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 60940
Population: 3,509
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 60940
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
Investor Insight: With 680 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is real estate in Grant Park, IL a good investment right now?
Grant Park, IL rates 3.0/5 for investability. With median values at $301K and rents near $1,278/mo, the market offers reasonable fundamentals for rental investors.
Is Grant Park, IL better for rentals, flips, or BRRRR?
Grant Park, IL investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($301K prices, $1,278/mo rents) make it a reasonable choice.
How much is rent in Grant Park, IL?
Rents in Grant Park, IL run near $1,278/mo. Compared with median home prices of $301K that produces solid gross yields for typical rentals.
Can I house hack in Grant Park, IL?
Grant Park, IL offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $1,278/mo rent level.
What is the rental occupancy rate in Grant Park, IL?
Occupancy in Grant Park, IL runs measured with elevated vacancy. Well-priced units at $1,278/mo lease on reasonable timelines.
You know 60940 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 60940 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 60940 ranks in Kankakee, IL
Every ZIP in this metro, ranked. Free.
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