Chicago city

Investing in Chicago real estate market 101

Knowing when and where to invest is everything. But, when it comes to Chicago, you can simply not go wrong. This city also called The City of Broad Shoulders and Windy City has one of the hottest real estate markets in the US.  And why? Well because it has a strong economy which makes it a business and financial center as well as many job possibilities for people of all skills. However, Chicago is not only great for working, but it also offers many great things for students, families, and for those just trying to have fun. So, no wonder why so many people want to move here. Thus, if you decide to invest in a Chicago property, either for yourself or for reselling it afterward, you will not regret it. Thus, if you are interested in investing in the Chicago real estate market, keep on reading.

About Chicago

Of course, before you decide to invest in Chicago real estate market and call to help you relocate there, you must know something about this city. So, as previously mentioned, it has a great economy. Yes, finding a job there can be a piece of cake! The most wanted job positions are those in business, transportation and infrastructure sectors. And, they are always looking for fresh talents from all over the world. Speaking of fresh talents, Chicago also offers a great education system too! There are many schools for children of all ages located in almost every Chicago neighborhood. However, most students move to Chicago to enroll in one of its 22 colleges which are, according to many, top-notch! 

And when it comes to having fun, trust us, you will never be bored as Chicago offers plenty of things to do once you move in. Yes, the nightlife is maybe more laid-back, when compared to New York for example, but be sure that here too you will find your fair share of restaurants, coffee shops, bars, and clubs. Moreover, if you are an adventurous type, you can also enjoy one of Chicago’s many parks, beaches, festivals, etc. So, as you can see, Chicago is great for calling home. No wonder why investing in Chicago real estate market is a hot topic.

Chicago real estate market.
Chicago is a place that has a lot to offer, so do not hesitate to invest in its real estate market.

Chicago Real Estate Market – What to Know

Wait, before you start to transport bulky items to your new address in Chicago, let us first mention some things that are of key importance when it comes to the real estate market here. So, as previously mentioned, if you decide to invest in Chicago real estate, you can not go wrong. Yes, both houses and apartments meet the most important considerations for property investing. But, according to recent research, family homes are a slightly better option for investing.

Chicago real estate market shows that currently, the median price of a family home is around is $325,000, or $240 per square foot. When it comes to apartments, the price is between $200,000 – #300,000, and of course, it depends on the location and square footage. Thus, do your research, and put everything on the paper before you decide to invest in the Chicago real estate market. But, as Chicago is definitely one of those cities that is great for living, working and playing, be sure that the price will be on the rise! 

Checking the real estate market online.
Research the Chicago real estate market thoroughly, before you decide to invest in it.

Neighborhoods Your Should Consider Investing

Chicago is a huge and diverse city! Thus, it goes without saying that it has many neighborhoods and suburbs. But, you as an investor must know what you are looking for. For instance, if you want to invest in a family home, then you should look for it in neighborhoods like West Town and Jefferson Park. In these two neighborhoods, you can find single-family homes which can bring you a lot of profit.  However, if you planned on investing in a business or a commercial property and staging it afterward, Logan Square is a much better option. And, if you want something in the middle – close to downtown, but still away from all crowds and noise, consider Jefferson Park. Thus, before you jump and buy the first property you see potential in, do your homework first.

Money and a house figurine.
If you want your investment to be profitable, do your research on time.

Chicago Real Estate Market Predictions

As mentioned many times before, whether you are an experienced investor or not, you must always do your homework.  That is, check the real estate analytics. This can hopefully help you make your decision on whether to invest in a certain property or not. So, when it comes to Chicago, do not think much! And, why? Well, because the prices are constantly on the rise. During the last year only, they have risen by 7%. And, according to experts, until the end of the year 2020, they will rise for another 5%. So, if you want to invest in a real estate property, now is the time. Do a lot of research and invest in something that will suit your needs and your budget.

However, if this is your first time investing, or if you have never been to Chicago before, better find an expert to help you out. That is, find a local real estate agent. He or she will know the market well. You will not have to worry about data, numbers, predictions, etc. With this kind of help, you will be able to find a great property for investment in no time!

Leave a Reply

Your email address will not be published. Required fields are marked *