If you're deciding between Lakeview and Lincoln Park for your next rental property, you're on the right track to finding a quality investment. These two Chicago neighborhoods consistently rank among the best for real estate investment thanks to their strong rental demand, high property values, and reliable tenant bases. Both areas attract investors looking to maximize rental income and long-term returns, but each appeals to different investment strategies.
In this blog, we’ll break down market trends, tenant profiles, property management insights, and financial comparisons to help you choose the best neighborhood to buy rental property in Chicago. Whether you're focused on cash flow, equity growth, or tenant stability, understanding these submarkets is key to real estate investing success.
Key Takeaways for these Chicago Neighborhoods
Lakeview offers lower entry prices and strong cash flow potential for rental properties.
Lincoln Park commands higher rents and stronger appreciation, though with steeper upfront investment.
Both neighborhoods feature low vacancy rates, reflecting strong demand and stable tenant pipelines.
Comparing Investment Opportunities in Lakeview vs. Lincoln Park
Lakeview and Lincoln Park top the list of best Chicago neighborhoods for rental property because of their ideal location with easy access to so much of what Chicago has to offer, rental market strength, and opportunities for investment. These North Side communities differ in property worth, tenant demographics, and income potential—making it crucial to align your choice with your real estate investment goals.
Lakeview Rental Market Overview
Real Estate Purchase Prices and Trends
Lakeview stands out for its variety of properties and relatively lower prices compared to Lincoln Park. As of mid-2025:
Median home price: ~$625,000 for a two-flat or small condo building
Single-family homes: $820,000 and up
Annual appreciation: Steady at 3–4%
New construction and modern condos are adding inventory, increasing competition and expanding housing options.
Average Rents and Tenant Profile
One-bedroom units: ~$1,800
Two-bedrooms: $2,200–$2,600
Three-bedrooms: Up to $4,000+
Lakeview attracts a mix of young professionals, families, and renters seeking proximity to Wrigley Field, lakefront parks, and public transportation. Over 50% of households rent, creating consistent demand.
Pros of Investing in Lakeview
Lower median property prices than Lincoln Park
High rental demand and low vacancy (~4%)
Strong rental income with relatively healthy cap rates (5–6%)
Broad tenant appeal and access to amenities
Cons of Investing in Lakeview
Slower property value appreciation vs. Lincoln Park
Property taxes can be high on certain blocks
Competition from new luxury apartment buildings
Lakeview property management services can help investors minimize risks and navigate tenant turnover, maintenance, and compliance.
Lincoln Park Rental Market Overview
Real Estate Purchase Prices and Trends
Lincoln Park’s charm, access to downtown, and top-tier schools make it one of the most desirable Chicago neighborhoods:
Median home price: $800,000–$1 million for investment properties
Single-family homes: Often exceed $1.2 million
Annual appreciation: Robust at 5–6%
Property values in Lincoln Park consistently outpace the national average, providing strong long-term growth potential.
Average Rents and Tenant Profile
Two-bedroom apartments: $2,800–$3,300
Lincoln Park tenants often include affluent professionals, graduate students, and families. The area’s prestige and proximity to the Lincoln Park Zoo, public transit, and cultural amenities support premium rent levels.
Pros of Investing in Lincoln Park
Higher income potential per unit
Long-term appreciation and solid returns
Desirable location with stable tenant base
Premium neighborhood with lower vacancy rates (~3%)
Cons of Investing in Lincoln Park
Higher acquisition costs create barriers to entry
Lower initial cash flow due to higher prices
Fewer deals and more investor competition
Keep in mind, experienced property management companies in Lincoln Park can help optimize performance and tenant relations. Check out what our owners and many renters have said about us!
Financial Comparison: Lakeview vs. Lincoln Park
Metric | Lakeview | Lincoln Park |
Median Property Price | $625,000 | $800,000–$1M |
Average Rent (2BR) | $2,200–$2,600 | $2,800–$3,300 |
Vacancy Rate | ~4% | ~3% |
Annual Appreciation | 3–4% | 5–6% |
Typical Cap Rates | 5–6% | 4–5% |
Lakeview typically offers better monthly cash flow thanks to lower property prices, while Lincoln Park excels in long-term equity growth. Both provide attractive investment opportunities depending on your risk tolerance and financial goals.
How to Choose Based on Your Real Estate Investing Goals
Want solid monthly cash flow?
Lakeview may be the better fit, with affordable entry points and high rental demand from young professionals and families.
Prioritizing appreciation and premium tenants?
Lincoln Park offers higher rents and stronger historical growth—ideal for long-term real estate investment.
Looking for affordable housing options?
Lakeview’s broader mix of rental units—including older 2- to 4-flats—may provide more opportunities for value-add strategies.
Considering location and walkability?
Both neighborhoods offer excellent amenities and public transportation access, though Lincoln Park carries more prestige.
Need Help Evaluating the Right Neighborhood or Considering Property Management Services?
At Landmark Property Management, we help investors make informed decisions across top Chicago neighborhoods like Lakeview and Lincoln Park. Whether you're buying your first rental property or scaling a portfolio, we help you:
Analyze real estate trends and rental market data
Compare cash flow, cap rates, and rent-to-price ratios
Manage tenant placement, maintenance, and legal compliance
Ready to invest in Lakeview or Lincoln Park?
Contact us to discuss your strategy and get expert help from our local property management team!
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Quick Read: Frequently Asked Questions (FAQ)
What is the best neighborhood to buy rental property in Chicago?
It depends on your goals. Lakeview is great for investors looking for strong cash flow and lower entry prices, while Lincoln Park appeals to those seeking long-term appreciation and premium rental income. Both are among the best neighborhoods for rental investment in Chicago.
Is Lakeview or Lincoln Park better for rental income?
Lincoln Park typically commands higher rents, but Lakeview’s lower purchase prices often result in better cap rates and monthly cash flow. Lakeview may offer better returns for investors focused on income over appreciation.
Which neighborhood has better appreciation: Lincoln Park or Lakeview?
Lincoln Park has historically shown stronger property value appreciation—around 5–6% annually—compared to Lakeview’s 3–4%. It's ideal for long-term equity growth benefits and higher-end property values for buyers.
Is Lakeview more affordable than Lincoln Park?
Yes. Lakeview real estate generally has lower median home prices, especially for condos and two-flats. This makes it more accessible for first-time investors or those expanding a portfolio on a tighter budget.
What type of tenants live in Lakeview and Lincoln Park?
Lakeview attracts a diverse mix of renters, including young professionals, families, and long-time residents. Lincoln Park tends to attract more affluent professionals, graduate students, and families seeking proximity to top schools and amenities.
Are property management services available in Lakeview and Lincoln Park?
Yes. Working with a local property management business is common and recommended in both neighborhoods. Services include tenant screening, rent collection, and property maintenance—critical for maximizing returns in competitive rental markets.
How do vacancy rates compare between Lakeview and Lincoln Park?
Both neighborhoods have low vacancy rates due to strong rental demand. Lakeview has around a 4% vacancy rate, while Lincoln Park is even lower at approximately 3%, making both areas attractive for rental property owners.
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