Real Estate Investing in North Chicago, Illinois (60064)
Should you buy in 60064 (North Chicago, IL)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
Rare combination of both appreciation and cash flow. These markets don't last long — worth serious consideration.
- Elevated vacancy: 11.0% vacancy may signal weakening demand.
- Higher unemployment: 7.2% unemployment — tenant risk signal.
What’s happening in North Chicago, IL (60064)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60064 North Chicago
Not every below-median market is a bargain. North Chicago's 60064 ZIP registers signals that favor experienced operators who can absorb the risk $222K pricing implies.
Rent of $1,581/mo on a $222K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 60064 sits below the stated 0.0% once reality is priced in.
Regionally, 60064 sits on the difficult end of the IL spectrum. The a viable market for read — for disciplined operators — is that pricing reflects the difficulty.
Turning to rents, 15,047 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
New investors are better served looking at North Chicago's stable or hybrid ZIPs before stepping into 60064. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in North Chicago:
Property Strategy for 60064
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $165,260 | $1,430 | 6.2% | +11.6% | $82,630 |
| 3BR | $207,787 | $1,840 | 6.4% | +11.3% | $69,262 |
| 4BR | $224,136 | $2,130 | 6.8% | +11.0% | $56,034 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60064 Compare?
| Metric | 60064 | North Chicago | Illinois |
|---|---|---|---|
| Home Value | $222,475 | $222,475 | $279,761 |
| 5-Year CAGR | 10.2% | 10.2% | 6.6% |
| Avg Rent | $1,581 | $1,581 | - |
| Cap Rate | 5.5% | 5.5% | - |
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 60064 (North Chicago, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $222,475 |
| Monthly Rent | $1,581 |
| Price-to-Rent | 11.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.5% |
| Cap Rate | 5.5% |
| 5-Year IRR | 15.7% |
📈 Home Appreciation
| 1-Year | +12.8% ▲ |
| 3-Year CAGR | +12.3% ▲ |
| 5-Year CAGR | +10.2% ▲ |
| 10-Year CAGR | +13.1% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.5%) exceeds the estimated cap rate (5.5%). 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 60064
Population: 15,047
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 60064
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Andrew Cooke Magnet Elem School
Lake Bluff Middle School
LEARN Chtr Sch 6 N Chicago Campus
Carman-Buckner Elem School
Forrestal Elem School
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 1,032 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Does North Chicago, IL make sense for an investment property?
Our data puts North Chicago, IL at 4.0/5 for investability. Home prices of $222K and rents around $1,581/mo create a solid backdrop for investor activity.
What are rental rates like in North Chicago, IL?
Expect rents around $1,581/mo per month in North Chicago, IL. With home values at $222K, the yield math works out to reasonable levels for rental investors.
Do rentals sit vacant long in North Chicago, IL?
Vacancy in North Chicago, IL is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,581/mo.
What is the best play in North Chicago, IL?
Investors usually favor careful cash-flow rentals with hands-on management in North Chicago, IL. With home values at $222K and rents near $1,581/mo, other strategies can work but produce steady rather than outsized returns.
How strict are landlord regulations in North Chicago, IL?
IL ranks as a landlord-friendly state for landlord-tenant law. North Chicago generally follows the statewide framework, so landlords face reasonable operating rules.
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