On the west shore of beautiful Lake Michigan, the city of Chicago is positioned as one of the top 3 most populated cities of the USA.
This municipality offers an exceptional living environment and unavoidable opportunities for investors. Do you have capital to invest in real estate?
If so, discover below the 4 reasons that will make you want to invest in Chicago in 2019 and beyond.
Invest in Chicago: The Real Estate Eldorado
On average, one square meter in Chicago is worth 2000 dollars. You will hardly find a more attractive location given the prominence of the great economic and cultural metropolis of Chicago. Investing in real estate in Chicago seems to be very interesting, when you know that the rental yield is greater than 10%.
It is a good idea to learn more about this local real estate market if you have some capital to invest. Things have changed a lot since the 2008 crisis, and a decade later opportunities abound. Another interesting information to be aware of if you want to invest in Chicago: 64% of residents are owners.
Invest in Chicago: A cosmopolitan city
According to official figures, the city of Chicago had nearly 3 million inhabitants. Indeed, just after New York and Los Angeles, Chicago is among the top 3 most populated cities in the Unites States. It is important to know that many of its 3 million residents are not American citizens.
There are 21% expatriates in Chicago, and 35% of the population speaks a language other than English. It is this social and cultural diversity that makes all the charm and wealth of the city of Chicago.
Invest in Chicago: A vibrant and dynamic city
Chicago is a city where life is good to enjoy. You will find various activities where everyone will find his or her happiness. Restaurants, cinemas, museums or art galleries, you will not have time to get bored if you move in.
Chicago is also marked by its dynamic environment: the average age of the population is 34 years. Immersed in an active and enterprising population, you will be carried by a positive breath, even if you are in yoru sixties.
Invest in Chicago: a considerable average salary
In 2018, the average monthly salary of Chicago’s residents was $3691. If the average salary is so high, it’s also because living in Chicago has a cost. But you will have much choice in housing.
If Downtown Chicago requires some investment, you can see the rents and prices to buy go down by travelling just a few miles from the center of the city. Thanks to its highly developed public transport network, you can move around the city without necessarily needing a car, like in Manhattan. This is one more convenience that makes investing in property a very juicy proposition.
Invest in Chicago: now is the time
If you are not too familiar with Chicago come have a look and enjoy. Only use a trusted real estate broker like Kale Realty when exploring the local real estate market for opportunities. And they abound, but prices are going up steadily, so better soon than later.
One particular in-demand area is the financial district. Given the large number of foreign expats working in the futures and other financial markets, you are guaranteed to always meet a large demand for luxurious rental appartments.