Chicago is a wonderful town to live and work in- which makes it a great rental investment market. Watch now to dig deeper into the why. A transcript follows the video.[iframe id=”https://www.youtube.com/embed/vIxdOfYOwKE”]
HomeUnion®’s mission is to take the pain out of real estate investing by delivering a hands — free fully managed investment experience to our clients. One way we do it is with best in class due diligence on investment locations. Let’s take a look at one of our Featured Investment Zones- Chicago, Illinois.
Invest in Chicago Real Estate
As one of the greenest cities in America, Chicago grew from a small trading post at the mouth of the Chicago River into a global city and a thriving center of international trade and commerce. Located on the shores of Lake Michigan in the heart of the Midwest, Chicago is home to world-championship sports teams, an internationally acclaimed symphony orchestra, renowned architecture, award-winning theater, and much more. All of these amenities attract a young, mobile professional who’s looking for flexibility in work and liquidity in finance- in other words, the perfect tenant!
The city offers excellent properties at attractive market prices for both owner-occupied and rental living. Chicago hosts 10 professional sports teams that generate seasonally specific jobs for the MLB, NFL, NBA, NHL, MLS and others- this aids quick placement of tenants for investment properties, ensuring steady cash flow. The city is also a global financial center; the stock market in Chicago trades nearly twice as much volume as that in New York. It’s a tourism and hospitality hub as well- 2 of the world’s top 10 hotels and 5 Conde Nast Gold list hotels operate in the city. That means a strong service industry and the resulting need for rentals that goes with it.
Chicago is the #1 large US metro for Economic diversity, featuring a quarter of a million businesses, 52 of the Fortune 1000’s headquarters and 400+ major corporate headquarters. Cook County, where Chicago is located is #2 in the nation for residential construction, #3 for gas stations, #4 in real estate industry, #2 in day care and #3 in full service restaurants.
All these signs point to continued levels of employment in multiple sectors and economic strata, a robust economy and consequent healthy rental population in many years to come.