Introduction
Big cities like Chicago, New York, and Los Angeles are known economic hubs in the USA. However, due to the increasing demand for affordable housing and the ever-increasing population, people are moving towards suburban properties. Thankfully, Illinois hosts several such rental living opportunities.
If you’re interested in finding the best suburban properties in Illinois, Centrum Partners can help you find the right place at the best rates. Let’s talk about some of the best suburban areas for property investment in Illinois.
Schaumburg, IL
Schaumburg is known as a commercial hub that combines urban facilities with suburban living. It houses the Woodfield Mall, an attractive dining and entertainment place for all residents.
The city has an average median home price of around $330,100 and a varied demographic population. Professionals, families with children, and individuals live here, increasing the demand for rental property. There are shopping centers, parks, schools, and many public facilities for all ages and types.
That makes it a preferred living space for professionals and families and a lucrative investor spot.
Oak Park, IL
Located West of Chicago, Oak Park is a famous cultural suburban area with good investment potential. The median home price in Oak Park is around $420,560, and a significant part of the population lives here on rent.
The city has many attractions, including parks, museums, restaurants, and more. Its well-developed school system makes it ideal for families with young children.
Oak Lawn, IL
Another well-developed area near Illinois is Oak Lawn. It offers amenities like shopping centers, parks, and health care, making it worth living in for individuals and families.
The median home price is also quite low, about $272,420. Moreover, the place is highly attractive for investors as there’s a high demand for renters in the area. The property prices are also quite low, making it one of Illinois’s most affordable suburban properties.
Arlington Heights, IL
Full of energy and life, Arlington Heights has some of the most beautiful parks and developed schools. It is one of the most preferred living places because it offers a balance between suburban lifestyle and urban sophistication.
Although the median home price is around $436,270, there’s still a high demand for renters thanks to its recreational facilities, job market, and parks. All that plus the commute system is well developed, so you can go from here to Chicago, Illinois, easily.
Hence, the demand for property is high, making it a worthwhile investment.
Glenview, IL
If you’re a fan of green spaces and family-suitable landscapes, you’ll love Glenview. It’s a beautiful piece of land also in high demand by renters. The median home price is high ($596,500), but it lists a stable composition of renters and homeowners.
Hence, there’s a high demand for rental property here.
So, if you’re looking to invest in property near Illinois, it’s worth looking into. The parks, shopping malls, schools, and a serene view make it attractive to residents and investors. It has so many amenities and city attractions, and its proximity to Chicago makes it an excellent place for rental living.
The Best Suburban Areas for Property Investment in Illinois
Living in suburban areas in Illinois can be very promising for people in different professions, industries, or life stages. All five suburbs have a high potential for investors as they are quite high in demand by tenants belonging to or coming from different professions.
People who prefer suburban living and want close proximity to Chicago at a much more affordable cost of living also find these attractive.
At Centrum Partners, we provide all the support you need to find the best Illinois suburban areas for investment to maximize your ROI.
