Ultimate Illinois Real Estate Investing Guide for 2022

Overview

Illinois Real Estate Investing Market Overview

Over the last ten years, the population growth rate in Illinois has a yearly average of . To compare, the annual population growth for the whole nation was .

Throughout that 10-year term, the rate of increase for the entire population in Illinois was , compared to throughout the nation.

Presently, the median home value in Illinois is . The U.S. indicator is .

Housing values in Illinois have changed throughout the last 10 years at an annual rate of . Throughout the country, property prices changed yearly at an average rate of .

For renters in Illinois, median gross rents are , compared to for the nation as a whole.

Illinois Real Estate Investing Highlights

Illinois Top Highlights

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Based on latest data from the US Census Bureau
Based on latest data from the US Census Bureau

Strategies

Strategy Selection

As you start looking at a new area for potential real estate investment endeavours, don’t forget the kind of real estate investment strategy that you adopt.

We’re going to provide you with instructions on how you should consider market statistics and demography statistics that will impact your distinct type of real estate investment. This will enable you to evaluate the information presented throughout this web page, determined by your desired strategy and the relevant selection of factors.

There are market basics that are significant to all sorts of real estate investors. They include crime rates, transportation infrastructure, and air transportation among other factors. Apart from the fundamental real estate investment location principals, diverse types of investors will search for other market assets.

If you prefer short-term vacation rental properties, you’ll target cities with strong tourism. Short-term property fix-and-flippers zero in on the average Days on Market (DOM) for home sales. They need to check if they will manage their spendings by selling their restored houses fast enough.

Long-term property investors look for evidence to the durability of the local job market. They will review the city’s major companies to determine if there is a varied group of employers for the landlords’ renters.

When you are undecided regarding a plan that you would want to pursue, think about borrowing expertise from property investment coaches in Illinois. You will additionally enhance your career by enrolling for any of the best real estate investor groups in Illinois and attend real estate investor seminars and conferences in Illinois so you’ll glean ideas from multiple professionals.

Let’s look at the various types of real property investors and what they know to scan for in their market investigation.

Active Real Estate Investing Strategies

Buy and Hold

When an investor purchases a property and sits on it for a long time, it’s thought to be a Buy and Hold investment. Throughout that period the property is used to create recurring income which grows your income.

When the asset has appreciated, it can be liquidated at a later time if local market conditions change or your approach requires a reallocation of the assets.

A top expert who ranks high on the list of professional real estate agents serving investors in Illinois will take you through the specifics of your desirable real estate investment area. Following are the details that you ought to acknowledge most completely for your buy-and-hold investment strategy.

 

Factors to Consider

Property Appreciation Rate

It’s an essential indicator of how stable and thriving a real estate market is. You will want to see stable gains annually, not erratic highs and lows. Actual information displaying consistently growing investment property market values will give you confidence in your investment return projections. Dwindling growth rates will probably convince you to remove that site from your lineup altogether.

Population Growth

A shrinking population means that with time the total number of tenants who can rent your property is going down. It also typically causes a decline in real estate and rental rates. A declining market can’t produce the improvements that will attract relocating employers and families to the site. You need to see growth in a market to consider purchasing an investment home there. The population expansion that you are seeking is reliable every year. Both long-term and short-term investment metrics improve with population expansion.

Property Taxes

Real estate taxes greatly impact a Buy and Hold investor’s revenue. You want an area where that expense is manageable. Steadily increasing tax rates will probably keep growing. High property taxes signal a dwindling environment that is unlikely to retain its current residents or attract new ones.

It occurs, nonetheless, that a specific real property is mistakenly overvalued by the county tax assessors. In this case, one of the best property tax appeal service providers in Illinois can demand that the local municipality analyze and potentially decrease the tax rate. But detailed cases including litigation require expertise of Illinois real estate tax lawyers.

Price to rent ratio

Price to rent ratio (p/r) is computed by dividing the median property price by the annual median gross rent. A low p/r shows that higher rents can be set. This will let your property pay back its cost in a reasonable period of time. Watch out for a really low p/r, which could make it more expensive to rent a property than to purchase one. You may lose tenants to the home buying market that will leave you with vacant rental properties. But usually, a smaller p/r is preferred over a higher one.

Median Gross Rent

Median gross rent is a valid barometer of the stability of a town’s lease market. Reliably expanding gross median rents signal the kind of robust market that you seek.

Median Population Age

You should use a location’s median population age to predict the percentage of the population that might be renters. Look for a median age that is similar to the one of the workforce. A high median age signals a populace that might be a cost to public services and that is not participating in the housing market. An aging population could precipitate escalation in property tax bills.

Employment Industry Diversity

When you are a long-term investor, you can’t afford to jeopardize your asset in a community with only one or two major employers. A stable area for you has a different collection of business types in the area. Variety keeps a downturn or interruption in business activity for a single industry from hurting other industries in the area. You don’t want all your renters to become unemployed and your rental property to depreciate because the only significant job source in the community closed.

Unemployment Rate

A high unemployment rate indicates that not many individuals can afford to rent or buy your investment property. Lease vacancies will grow, bank foreclosures can go up, and revenue and investment asset improvement can equally deteriorate. If individuals get laid off, they can’t pay for products and services, and that hurts businesses that give jobs to other individuals. Businesses and individuals who are contemplating transferring will look in other places and the city’s economy will suffer.

Income Levels

Income levels are a key to markets where your possible clients live. You can use median household and per capita income information to target specific pieces of a community as well. Growth in income signals that renters can make rent payments on time and not be frightened off by incremental rent escalation.

Number of New Jobs Created

Data describing how many employment opportunities materialize on a recurring basis in the market is a vital tool to determine whether an area is good for your long-range investment plan. Job production will bolster the tenant base growth. New jobs create a stream of tenants to replace departing renters and to rent additional lease properties. Employment opportunities make a city more desirable for relocating and buying a residence there. An active real estate market will help your long-term strategy by generating a growing market price for your property.

School Ratings

School quality must also be closely investigated. New employers want to find outstanding schools if they are going to move there. Strongly rated schools can entice relocating families to the region and help retain current ones. The stability of the desire for housing will determine the outcome of your investment efforts both long and short-term.

Natural Disasters

With the principal goal of unloading your investment after its value increase, the property’s material status is of primary interest. That’s why you will want to exclude markets that frequently endure environmental events. Nevertheless, your property insurance needs to cover the real estate for damages caused by circumstances such as an earth tremor.

In the case of tenant destruction, speak with a professional from our list of Illinois landlord insurance agencies for adequate insurance protection.

Long Term Rental (BRRRR)

The acronym BRRRR is an illustration of a long-term lease plan — Buy, Rehab, Rent, Refinance, Repeat. When you desire to expand your investments, the BRRRR is a good strategy to employ. A critical piece of this plan is to be able to obtain a “cash-out” mortgage refinance.

The After Repair Value (ARV) of the asset needs to equal more than the complete acquisition and rehab expenses. Then you receive a cash-out mortgage refinance loan that is based on the larger market value, and you extract the balance. You employ that capital to acquire an additional investment property and the procedure begins again. You acquire more and more houses or condos and continually expand your lease income.

If your investment property collection is large enough, you might outsource its oversight and collect passive cash flow. Find one of property management companies in Illinois with a review of our exhaustive directory.

 

Factors to Consider

Population Growth

The growth or fall of a region’s population is a good barometer of the region’s long-term appeal for lease property investors. When you discover robust population increase, you can be confident that the region is attracting likely renters to the location. The market is desirable to employers and workers to move, work, and grow households. This means reliable renters, greater lease income, and more potential buyers when you need to sell the rental.

Property Taxes

Real estate taxes, regular upkeep expenses, and insurance directly affect your returns. Steep property taxes will negatively impact a property investor’s income. Unreasonable property taxes may signal an unstable area where expenditures can continue to increase and must be considered a warning.

Price to Rent Ratio

Price to rent ratio (p/r) is a market indicator that informs you the amount you can anticipate to collect for rent. An investor will not pay a steep sum for a rental home if they can only charge a modest rent not enabling them to pay the investment off in a reasonable timeframe. You need to see a low p/r to be comfortable that you can price your rental rates high enough for acceptable returns.

Median Gross Rents

Median gross rents are a specific benchmark of the approval of a rental market under consideration. Hunt for a continuous rise in median rents during a few years. You will not be able to realize your investment predictions in a region where median gross rents are dropping.

Median Population Age

Median population age will be nearly the age of a typical worker if a region has a good stream of tenants. You will find this to be factual in cities where workers are relocating. If you discover a high median age, your source of tenants is becoming smaller. This isn’t good for the future economy of that community.

Employment Base Diversity

A varied employment base is something an intelligent long-term investor landlord will hunt for. If there are only a couple dominant employers, and either of them moves or disappears, it will cause you to lose tenants and your asset market rates to decrease.

Unemployment Rate

You won’t be able to get a stable rental income stream in a city with high unemployment. Otherwise successful companies lose customers when other businesses retrench workers. People who continue to keep their jobs may find their hours and salaries reduced. Current tenants could fall behind on their rent in this scenario.

Income Rates

Median household and per capita income will inform you if the tenants that you require are residing in the city. Current salary statistics will reveal to you if wage increases will permit you to adjust rental fees to hit your profit estimates.

Number of New Jobs Created

The vibrant economy that you are searching for will create a large amount of jobs on a consistent basis. A market that creates jobs also boosts the number of people who participate in the property market. This ensures that you can maintain a high occupancy rate and purchase more real estate.

School Ratings

Local schools will have a huge impact on the property market in their locality. Well-endorsed schools are a requirement of companies that are considering relocating. Reliable tenants are a consequence of a robust job market. Homeowners who move to the city have a positive influence on real estate market worth. For long-term investing, be on the lookout for highly ranked schools in a considered investment area.

Property Appreciation Rates

High property appreciation rates are a requirement for a successful long-term investment. Investing in properties that you expect to maintain without being confident that they will grow in value is a recipe for disaster. Subpar or shrinking property worth in a region under assessment is inadmissible.

Short Term Rentals

Residential real estate where renters live in furnished units for less than four weeks are referred to as short-term rentals. Short-term rental owners charge more rent per night than in long-term rental properties. With renters coming and going, short-term rental units have to be repaired and sanitized on a constant basis.

Usual short-term tenants are backpackers, home sellers who are relocating, and people on a business trip who prefer more than a hotel room. Regular property owners can rent their homes on a short-term basis with sites like AirBnB and VRBO. This makes short-term rental strategy an easy technique to try residential property investing.

Short-term rentals demand dealing with renters more often than long-term rental units. That leads to the investor having to frequently manage protests. You might want to protect your legal bases by engaging one of the best Illinois investor friendly real estate attorneys.

 

Factors to Consider

Short-Term Rental Income

You must calculate how much rental income has to be earned to make your investment pay itself off. Learning about the standard rate of rent being charged in the market for short-term rentals will help you pick a desirable area to invest.

Median Property Prices

Thoroughly compute the budget that you can afford to spend on additional real estate. To check if a community has possibilities for investment, check the median property prices. You can calibrate your community survey by analyzing the median price in specific neighborhoods.

Price Per Square Foot

Price per sq ft may be confusing when you are examining different buildings. When the styles of potential properties are very contrasting, the price per square foot might not help you get a precise comparison. Price per sq ft can be a fast way to compare several neighborhoods or buildings.

Short-Term Rental Occupancy Rate

The need for new rental units in a community may be verified by evaluating the short-term rental occupancy rate. When most of the rental properties are filled, that community demands more rental space. When the rental occupancy indicators are low, there is not much demand in the market and you should search somewhere else.

Short-Term Rental Cash-on-Cash Return

To understand whether you should put your money in a certain property or region, look at the cash-on-cash return. You can determine the cash-on-cash return by taking your Net Operating Income (NOI) and dividing it by your cash being invested. The answer will be a percentage. The higher the percentage, the quicker your investment will be repaid and you’ll start receiving profits. If you get financing for part of the investment budget and use less of your own funds, you will get a higher cash-on-cash return.

Average Short-Term Rental Capitalization (Cap) Rates

Average short-term rental capitalization (cap) levels are widely used by real estate investors to assess the value of investment opportunities. High cap rates indicate that rental units are available in that location for reasonable prices. When cap rates are low, you can expect to pay more money for investment properties in that community. Divide your expected Net Operating Income (NOI) by the property’s market value or asking price. The percentage you will receive is the investment property’s cap rate.

Local Attractions

Important festivals and entertainment attractions will attract visitors who need short-term rental units. This includes professional sporting tournaments, youth sports competitions, schools and universities, big auditoriums and arenas, carnivals, and theme parks. At specific periods, places with outdoor activities in mountainous areas, coastal locations, or along rivers and lakes will attract crowds of people who require short-term housing.

Fix and Flip

To fix and flip a property, you have to pay less than market value, complete any needed repairs and updates, then liquidate the asset for full market price. Your evaluation of repair spendings must be correct, and you need to be capable of buying the unit for lower than market price.

It is critical for you to be aware of the rates houses are going for in the city. Look for a community with a low average Days On Market (DOM) metric. As a ”rehabber”, you’ll want to liquidate the fixed-up house without delay in order to stay away from upkeep spendings that will lower your profits.

In order that real estate owners who have to sell their property can effortlessly find you, promote your status by utilizing our list of the best all cash home buyers in Illinois along with top real estate investing companies in Illinois.

Additionally, coordinate with Illinois property bird dogs. Experts on our list focus on procuring desirable investments while they’re still off the market.

 

Factors to Consider

Median Home Price

The region’s median housing price could help you find a suitable neighborhood for flipping houses. When values are high, there might not be a steady supply of fixer-upper houses in the location. This is an essential component of a profitable fix and flip.

If you notice a fast weakening in property market values, this may indicate that there are potentially properties in the market that qualify for a short sale. Real estate investors who work with short sale processors in Illinois get regular notices concerning possible investment real estate. Discover more about this type of investment explained in our guide How Do You Buy a Short Sale Home?.

Property Appreciation Rate

Are real estate market values in the city moving up, or on the way down? Predictable upward movement in median values shows a robust investment environment. Speedy property value growth could reflect a value bubble that isn’t reliable. You may wind up purchasing high and liquidating low in an unsustainable market.

Average Renovation Costs

A careful review of the market’s construction expenses will make a huge impact on your location selection. Other costs, like authorizations, could increase expenditure, and time which may also develop into additional disbursement. You want to be aware whether you will need to employ other specialists, like architects or engineers, so you can get ready for those costs.

Population Growth

Population increase figures let you take a look at housing demand in the market. Flat or reducing population growth is an indication of a poor environment with not a good amount of buyers to validate your effort.

Median Population Age

The median citizens’ age can additionally show you if there are qualified home purchasers in the area. It better not be less or more than that of the usual worker. People in the regional workforce are the most dependable real estate purchasers. Aging individuals are preparing to downsize, or move into age-restricted or assisted living neighborhoods.

Unemployment Rate

If you run across a city with a low unemployment rate, it’s a good evidence of good investment prospects. The unemployment rate in a potential investment region should be lower than the national average. When it’s also lower than the state average, that’s even better. To be able to buy your renovated houses, your prospective clients have to have a job, and their clients as well.

Income Rates

Median household and per capita income are an important indication of the scalability of the real estate environment in the region. When people acquire a property, they typically have to get a loan for the purchase. Homebuyers’ capacity to be given a loan depends on the size of their income. Median income can help you determine if the regular home purchaser can buy the houses you intend to list. You also need to have salaries that are improving consistently. To keep up with inflation and rising construction and supply costs, you have to be able to regularly raise your rates.

Number of New Jobs Created

The number of jobs created on a regular basis shows if salary and population growth are sustainable. A higher number of residents purchase homes when the area’s financial market is generating jobs. Experienced trained workers looking into purchasing real estate and settling choose migrating to areas where they will not be jobless.

Hard Money Loan Rates

People who buy, repair, and flip investment real estate opt to employ hard money and not traditional real estate loans. Hard money financing products empower these investors to move forward on current investment opportunities right away. Find private money lenders in Illinois and compare their rates.

Investors who are not knowledgeable regarding hard money lending can uncover what they need to know with our resource for newbies — What Is Private Money?.

Wholesaling

Wholesaling is a real estate investment plan that entails scouting out homes that are appealing to investors and signing a sale and purchase agreement. A real estate investor then ”purchases” the purchase contract from you. The investor then finalizes the acquisition. The real estate wholesaler doesn’t sell the property itself — they simply sell the purchase and sale agreement.

This business includes using a title company that is familiar with the wholesale purchase and sale agreement assignment operation and is qualified and predisposed to manage double close deals. Find Illinois wholesale friendly title companies by using our list.

Discover more about how wholesaling works from our definitive guide — Real Estate Wholesaling 101. When you opt for wholesaling, include your investment venture on our list of the best wholesale real estate companies in Illinois. That will help any desirable customers to see you and get in touch.

 

Factors to Consider

Median Home Prices

Median home prices in the region being assessed will immediately inform you if your investors’ target investment opportunities are located there. Since real estate investors prefer properties that are available below market price, you will need to take note of below-than-average median prices as an implicit hint on the potential source of properties that you could acquire for lower than market price.

A fast drop in the price of property might cause the swift availability of homes with negative equity that are hunted by wholesalers. Short sale wholesalers often gain perks from this strategy. Nevertheless, be cognizant of the legal challenges. Discover more concerning wholesaling short sales from our complete instructions. When you have chosen to attempt wholesaling short sale homes, make certain to hire someone on the list of the best short sale legal advice experts in Illinois and the best foreclosure lawyers in Illinois to help you.

Property Appreciation Rate

Property appreciation rate enhances the median price data. Real estate investors who want to liquidate their properties later on, like long-term rental investors, want a market where real estate market values are growing. Shrinking values show an equally poor rental and home-selling market and will scare away investors.

Population Growth

Population growth information is a contributing factor that your future investors will be familiar with. If the population is expanding, additional residential units are required. This combines both leased and ‘for sale’ real estate. A city that has a declining community will not draw the investors you need to buy your contracts.

Median Population Age

Investors need to be a part of a steady housing market where there is a considerable pool of renters, first-time homeowners, and upwardly mobile locals switching to larger residences. This takes a strong, constant labor pool of people who feel optimistic enough to go up in the housing market. That is why the region’s median age needs to be the age of skilled workers in the employment market.

Income Rates

The median household and per capita income demonstrate steady improvement continuously in communities that are favorable for investment. Surges in rent and asking prices must be backed up by rising income in the region. Real estate investors need this if they are to meet their estimated profits.

Unemployment Rate

The area’s unemployment numbers are a key aspect for any prospective sales agreement purchaser. High unemployment rate triggers more renters to make late rent payments or miss payments altogether. This negatively affects long-term investors who plan to rent their property. High unemployment creates poverty that will prevent people from buying a house. This makes it hard to locate fix and flip real estate investors to acquire your purchase agreements.

Number of New Jobs Created

The number of additional jobs being produced in the community completes a real estate investor’s study of a potential investment site. Workers relocate into a city that has more job openings and they look for a place to live. Whether your client base is made up of long-term or short-term investors, they will be drawn to a place with consistent job opening production.

Average Renovation Costs

Rehabilitation spendings have a big impact on an investor’s returns. Short-term investors, like fix and flippers, can’t make money when the purchase price and the improvement costs equal to more than the After Repair Value (ARV) of the house. Give priority status to lower average renovation costs.

Mortgage Note Investing

Purchasing mortgage notes (loans) pays off when the note can be obtained for a lower amount than the remaining balance. When this occurs, the investor becomes the client’s lender.

Loans that are being paid off as agreed are called performing notes. They earn you long-term passive income. Non-performing loans can be re-negotiated or you could acquire the collateral for less than face value by completing a foreclosure procedure.

Someday, you may accrue a number of mortgage note investments and lack the ability to oversee the portfolio alone. In this event, you may want to hire one of note servicing companies in Illinois that will basically turn your investment into passive cash flow.

If you choose to try this investment method, you ought to include your venture in our directory of the best real estate note buying companies in Illinois. Being on our list puts you in front of lenders who make profitable investment possibilities available to note buyers such as yourself.

 

Factors to Consider

Foreclosure Rates

Low foreclosure rates are a sign that the community has opportunities for performing note investors. Non-performing mortgage note investors can carefully take advantage of locations that have high foreclosure rates too. The neighborhood needs to be robust enough so that investors can complete foreclosure and unload collateral properties if necessary.

<strong>Foreclosure Laws</strong>

It is imperative for mortgage note investors to understand the foreclosure laws in their state. Some states require mortgage paperwork and others utilize Deeds of Trust. Lenders might have to receive the court’s okay to foreclose on a home. A Deed of Trust allows you to file a notice and proceed to foreclosure.

<strong>Mortgage Interest Rates</strong>

The interest rate is determined in the mortgage loan notes that are purchased by investors. Your mortgage note investment return will be influenced by the interest rate. Interest rates affect the plans of both types of note investors.

The mortgage rates charged by conventional lending companies are not identical in every market. Loans supplied by private lenders are priced differently and can be more expensive than traditional loans.

A mortgage note investor needs to know the private as well as conventional mortgage loan rates in their communities at any given time.

<strong>Demographics</strong>

A city’s demographics data help mortgage note investors to streamline their efforts and effectively use their resources. The city’s population increase, employment rate, employment market increase, pay standards, and even its median age provide usable data for mortgage note investors.
Performing note investors require borrowers who will pay on time, creating a stable income source of mortgage payments.

Non-performing note purchasers are interested in related elements for other reasons. A resilient local economy is prescribed if they are to locate buyers for collateral properties they’ve foreclosed on.

<strong>Property Values</strong>

Note holders need to find as much equity in the collateral as possible. This increases the possibility that a possible foreclosure liquidation will repay the amount owed. The combined effect of mortgage loan payments that reduce the mortgage loan balance and annual property value growth expands home equity.

<strong>Property Taxes</strong>

Most often, lenders collect the property taxes from the homebuyer every month. The lender passes on the payments to the Government to ensure the taxes are submitted without delay. The lender will have to take over if the payments stop or the lender risks tax liens on the property. If a tax lien is filed, it takes a primary position over the your loan.

If a market has a record of rising tax rates, the total home payments in that market are steadily expanding. Homeowners who are having trouble handling their mortgage payments might fall farther behind and eventually default.

<strong>Real Estate Market Strength</strong>

A region with appreciating property values promises strong opportunities for any mortgage note buyer. They can be confident that, when necessary, a foreclosed collateral can be liquidated at a price that makes a profit.

Note investors also have an opportunity to make mortgage notes directly to homebuyers in reliable real estate communities. This is a desirable source of income for experienced investors.

Passive Real Estate Investing Strategies

Syndications

In real estate, a syndication is a company of investors who combine their capital and talents to purchase real estate properties for investment. One individual arranges the investment and enrolls the others to invest.

The planner of the syndication is referred to as the Syndicator or Sponsor. They are responsible for conducting the purchase or construction and generating revenue. This person also manages the business matters of the Syndication, such as members’ dividends.

Syndication partners are passive investors. In exchange for their funds, they take a superior position when income is shared. These owners have nothing to do with handling the partnership or supervising the use of the property.

Real Estate Market

Picking the type of region you want for a successful syndication investment will compel you to select the preferred strategy the syndication project will be operated by. The earlier chapters of this article discussing active investing strategies will help you determine market selection criteria for your potential syndication investment.

Sponsor/Syndicator

Since passive Syndication investors rely on the Syndicator to run everything, they need to research the Syndicator’s reputation carefully. Look for someone who can show a record of successful investments.

He or she may not invest any capital in the syndication. You might prefer that your Sponsor does have money invested. Certain partnerships designate the effort that the Sponsor performed to create the investment as “sweat” equity. Some projects have the Syndicator being paid an upfront payment plus ownership share in the company.

Ownership Interest

Each stakeholder holds a portion of the partnership. Everyone who injects cash into the partnership should expect to own a higher percentage of the partnership than members who don’t.

When you are putting capital into the partnership, ask for preferential treatment when income is shared — this increases your results. The percentage of the amount invested (preferred return) is paid to the cash investors from the profits, if any. Profits over and above that amount are distributed among all the owners depending on the size of their ownership.

If partnership assets are liquidated for a profit, the money is distributed among the members. In a strong real estate market, this may provide a substantial boost to your investment results. The owners’ percentage of ownership and profit disbursement is stated in the partnership operating agreement.

REITs

Many real estate investment companies are formed as trusts termed Real Estate Investment Trusts or REITs. Before REITs existed, investing in properties was too expensive for the majority of people. The average person is able to come up with the money to invest in a REIT.

Shareholders’ participation in a REIT classifies as passive investment. The exposure that the investors are assuming is spread within a selection of investment properties. Shareholders have the right to unload their shares at any time. Investors in a REIT are not able to suggest or select real estate for investment. Their investment is confined to the real estate properties owned by the REIT.

Real Estate Investment Funds

Mutual funds that own shares of real estate companies are referred to as real estate investment funds. The investment assets aren’t possessed by the fund — they are owned by the firms the fund invests in. Investment funds may be an affordable way to include real estate in your allocation of assets without unnecessary exposure. Fund participants might not receive typical disbursements like REIT participants do. As with any stock, investment funds’ values increase and drop with their share price.

You can locate a real estate fund that specializes in a distinct category of real estate business, such as residential, but you can’t suggest the fund’s investment properties or markets. You have to depend on the fund’s managers to choose which markets and assets are picked for investment.

Housing

Illinois Housing 2022

In Illinois, the median home market worth is , at the same time the US median value is .

In Illinois, the annual growth of residential property values during the previous decade has averaged . Across the nation, the per-annum value growth percentage has averaged .

Regarding the rental business, Illinois has a median gross rent of . The same indicator in the nation is .

Illinois has a rate of home ownership of . of the U.S. populace are homeowners.

The leased housing occupancy rate in Illinois is . The national occupancy level for rental residential units is .

The percentage of occupied houses and apartments in Illinois is , and the percentage of unused homes and multi-family units is .

Housing Quick Stats
Home Appreciation Rate(2010-2018)
Median Home Value
Median Gross Rent
Price To Rent Ratio
Home Ownership Rate
Tenant Occupied Rate
Average Property Tax Rate

Illinois Home Ownership

Illinois Rent & Ownership

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Based on latest data from the US Census Bureau

Illinois Rent Vs Owner Occupied By Household Type

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Based on latest data from the US Census Bureau

Illinois Occupied & Vacant Number Of Homes And Apartments

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Based on latest data from the US Census Bureau

Illinois Household Type

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Based on latest data from the US Census Bureau

Illinois Property Types

Illinois Age Of Homes

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Based on latest data from the US Census Bureau

Illinois Types Of Homes

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Based on latest data from the US Census Bureau

Illinois Homes Size

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Based on latest data from the US Census Bureau

Marketplace

Illinois Investment Property Marketplace

If you are looking to invest in Illinois real estate, our Investment Property Marketplace can become your indispensable tool in your investing business. To help you easily find the best off-market deals in the Illinois area, we created a nationwide investor-friendly online platform. Use it to shop for lucrative off-market properties for sale according to your specific buying criteria.

Unlike other real estate listing websites, our marketplace’s interface is particularly designed for investors. Besides the purchase price, you can see other, essential to investors, key indicators such as: rehab costs and ARV, potential profit, FSBO, or realtor-assisted deal, and others. To get started, visit our marketplace and search for Illinois investment properties for sale.

Illinois Investment Properties for Sale

Homes For Sale

Search Properties By

Property Type
  • House
  • Condominium
  • Townhome
  • Mobile / Manufactured
  • Loft
  • Studio
  • Cabin
  • Duplex
  • Triplex
  • Fourplex
  • Multifamily 5+ units
  • Assisted Living Facilities
  • Auto Mechanic / Body Shop
  • Bar / Pub
  • Bed & Breakfast Inn
  • Car Wash
  • Church
  • Commercial Land
  • Convenience Store / Supermarket
  • Farm / Farmland / Ranch
  • Funeral Home
  • Gas Station
  • Hotel / Motel
  • Laundromat
  • Marina
  • Medical Facility / Clinic / Hospital
  • Mobile Home Park / RV Park / Campground
  • Office Space
  • Parking Garage
  • Resort / Retreat
  • Restaurant
  • Strip Mall / Shopping Center
  • Storage Facility
  • Vineyard
  • Warehouse
  • Developed Land
  • Undeveloped Land
Deal Type
  • Requires rehab
  • Doesn’t require rehab
  • Subject-to
  • Behind on mortgage payments
  • Short sales
  • Delinquent property taxes
  • Tax lien certificates
  • Government Owned (HUD)
  • Bank owned
  • Real estate notes

Sell Your Illinois Property

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Financing

Illinois Real Estate Investing Financing

If you are looking for a loan to finance investment property purchase, rehab or ground up construction in Illinois, easily get quotes from multiple lenders at once and compare rates.

Fill out our quick online real estate financing application form to receive multiple quotes for your preferred type of loan from our preferred Illinois private and hard money lenders.

Illinois Investment Property Loan Types

Check out some of the most popular real estate loans provided by top local lenders in Illinois
  • Rehab Loans
  • Fix and Flip Loans
  • Bridge Loans
  • Asset Based Loans
  • Cash Out/Refinance Loans
  • Transactional Funding
  • Transactional Hard Money Loans
  • Private Money Loans
  • New Construction Loans

Compare Investment Property Loan Rates in Illinois

Receive multiple offers from best private and hard money lenders and get access to unlimited capital to fund any type of real estate investment property!
COMPARE LOAN RATES
Purchase
Rehab
Construction
Refinance
Bridge
Development

Population

Illinois Population Over Time

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Based on latest data from the US Census Bureau

Illinois Population By Year

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Based on latest data from the US Census Bureau

Illinois Population By Age And Sex

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Based on latest data from the US Census Bureau

Economy

Illinois Economy 2022

In Illinois, the median household income is . In contrast to the United States’ figure which is .

The populace of Illinois has a per person income of . The populace of the United States as a whole has a per person amount of income of .

The workers in Illinois get paid an average salary of with average wages of at the national level.

Illinois has an unemployment rate of , whereas the US rate is at .

The economic portrait of Illinois includes a total poverty rate of . The country’s poverty rate is at .

Economy Quick Stats
Unemployment Rate
Median Household Income
Per Capita Income
Overall Poverty Rate
Average Salary
Property Price To Income Ratio
Salary Change Rate (2010-2018)

Illinois Residents’ Income

Illinois Median Household Income

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Based on latest data from the US Census Bureau

Illinois Per Capita Income

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Based on latest data from the US Census Bureau

Illinois Income Distribution

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Based on latest data from the US Census Bureau

Illinois Poverty Over Time

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Based on latest data from the US Census Bureau

Illinois Property Price To Income Ratio Over Time

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Based on latest data from the US Census Bureau

Illinois Job Market

Illinois Employment Industries (Top 10)

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Based on latest data from the US Census Bureau

Illinois Unemployment Rate

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Based on latest data from the US Census Bureau

Illinois Employment Distribution By Age

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Based on latest data from the US Census Bureau

Illinois Average Salary Over Time

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Based on latest data from the US Census Bureau

Illinois Employment Rate Over Time

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Based on latest data from the US Census Bureau

Illinois Employed Population Over Time

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Based on latest data from the US Census Bureau

Schools

Illinois School Ratings

Illinois has a public school system comprised of primary schools, middle schools, and high schools.

of public school students in Illinois graduate from high school.

School Quick Stats
Elementary Schools
Middle Schools
High Schools
Private Schools
High School Graduates

Illinois School Ratings

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Based on latest data from the US Census Bureau

Illinois Counties