Best Locations For Chicago Real Estate Investment


Chicago is one of a kind. The city, known for its unusual weather and vibrant culture, provides a canvas on which the residents can draw an amazingly full life. Although Chicago ranks among the most popular cities in the United States, it has a major factor that investors ought to know about: affordability. The city is simply less expensive than most major metropolitan areas. If you’re wondering about the best places in Chicago to invest in real estate, we have some options to show you.

Chicago Real Estate Investment Forecast

Chicago is a great city for real estate investment. Lower housing prices make it an attractive investment vehicle, compared to the high-cost regions of the east and west coasts. A recent period of slow but steady growth gives the best opportunities, especially for investors looking to buy and hold. The city finished 2021 at around $315,000 for a median sale price. The Chicago metro area ended the year at about $290,000, representing about twice as much year-over-year growth as the city.


The average rent of $2,100 per month offers a respectable return on investment compared to the median sale price, although averages range from $600 per month to $2,900 per month. With rent prices about 25% above the national average, Chicago poses tons of investment potential with few obstacles.

Real Estate Loans in Chicago

Chicago is our home town. Renovo has been here since we were founded in 2011. Our reach is far, so if your project is outside the city limits, we can make it work.

Best Chicago Neighborhoods for Real Estate Investment

Chicago has 77 neighborhoods, and each of them are known for something a little different.


The best neighborhoods in Chicago to invest in real estate have a combination of factors, including minimal growth in the past year and reasonable rent prices. Here is a look at the top neighborhoods for Chicago investment in real estate, which investors can finance with help from Renovo’s loan programs.

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Rogers Park

The Rogers Park neighborhood offers significant investment potential, especially for investors who are looking for more affordable properties. At around $210,000 for a median sale price, Rogers Park is about a third less expensive than the median for Chicago proper.


Prices dipped a little in the past year, which makes a better long-term purchase for investors hoping to save money. This established neighborhood has a stately history, notable as the home of Loyola University. With average rents ranging from $1,200 to $1,300 per month, Rogers Park offers affordable housing opportunities for investors and tenants alike. It has also been named one of the most in-demand neighborhoods in Chicago.


Avondale is a neighborhood encountering a significant amount of renewal. The median sale price of about $400,000 can be a bit misleading, as there are properties that go for about $100,000 and some that list for more than $2 million. A neighborhood that is popular for tenants, Avondale rents run lower than average, or about $1,100 per month. Investors might have to look carefully to spot a deal in this area, but they can be rewarded with excellent opportunities to remodel and rent or sell.

Humboldt Park

Investors who want to find opportunities for growing rent prices and steady home values should look in Humboldt Park. This neighborhood has gone on a rollercoaster of shifting sale prices in the late 2010s, but it is finally starting to level out. At a median sale price of $350,000 to $400,000, Humboldt Park is about 10-20% above Chicago’s median.


The neighborhood is seen by many as a diamond among gravel, with lots of beautiful, older homes waiting for the right investor to renovate them and bring them back to life. With rent price averages about $2,200 per month, Humboldt Park offers a reasonable alternative to more-expensive neighborhoods such as Lincoln Park


Affordable prices with lakefront views drive a lot of people to Edgewater, a neighborhood south of Rogers Park. After a dip in prices in the last half of 2021 to a median sale price of $245,000, Edgewater is back on the upward swing. Investors hoping to find a property with great growth potential may find it in Edgewater. As the location of another site of Loyola University, Edgewater is also popular with students. Rental units average about $1,200 per month.
It’s not hard to get excited about the best areas in Chicago to invest in real estate. The city has so much potential for growth and renewal. To learn more about how you can take advantage of Chicago’s great real estate investment opportunities, contact us at Renovo Financial today.


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