Morgan Park is often a forgotten part of Chicago's south side when it comes to real estate investors. It’s often overshadowed by the surrounding areas, like Beverly as a higher end neighborhood and West Pullman as a cheap option for renters who can not afford to move into Morgan Park. The area is middle-of-the-pack when it comes to crime rate and schools. The biggest selling point of this area is its easy access to the highway to get either to the south suburbs or to the city. The south side of Chicago is seeing prices rise across multiple neighborhoods, and the average rent prices for a two-bedroom in Morgan Park has reached $1800/month with houses going for an average of $2600/month.
The Best Way to Advertise a Property in Morgan Park
1. Make sure your listing is priced right. Get a free rental analysis here .
2. Make sure you post on affordablehousing.com. Many parts of Morgan Park fall into CHA's Opportunity Zone, meaning higher rents from CHA.
3. Make sure to highlight what’s nearby, including the highway, bus stops, schools, etc.
4. Get good pictures and highlight the areas people really care about: the kitchen, bathroom, and outdoor space.
How to Make Sure the Showings Go Well
1. Send a text message to the tenant before the showing and make sure they are confirmed before you go out to the property.
2. Make sure the common area is clean, the grass is cut, and everything is working in the unit. A buying sign is a potential tenant using the water, lights, stove, etc. to make sure they work well.
3. Make sure it smells good. An old real estate agent's trick is baking cookies during an open house. You don't have to go that far, but make sure that your property has a good smell to it by using plug-ins or sprays.
Overall, Morgan Park is stuck in the middle between a very expensive Beverly area and a cheaper West Pullman area, but the middle is often where you find the best deals - especially as a real estate investor. If you are looking for your next investment, you may not have to look any further than Chicago's Morgan Park neighborhood. Chicago Style Management has been helping investors buy, sell, and invest on Chicago's south side since 2020. Our team of experts would love to help you get into your first or next investment and help make it a passive investment where you are not giving away your weekends dealing with mowing the grass or finding a new tenant. If you have investment properties or are thinking of buying an investment property in one of the 77 Chicago neighborhoods, use our free ROI Calculator to see if it will be profitable before you finish your purchase.
