Neighborhood
Oakland
Chicago, Illinois US
Oakland in Chicago, Illinois offers an investment profile with a 7.0 gross yield, prices about 8% below Chicago and about 42% above Illinois, and prices up 4.2% over the past year. The Red Flag score of 44 suggests moderate overall risk, while walkability of 83 is a clear strength. Education is in the 16th percentile, which is a weaker school-district test-score reading relative to the other metrics.
AI Summary•Updated May 2026
Area
0.63 mi²
ZIP Code
60653
County
Cook County
State
Illinois
Redfin — median sale & volumeZillow ZORI — asking rentFEMA National Risk Index v1.20OpenStreetMap — POIFBI UCR — state crimeEPA — radon zonesWashU ACAG — satellite PM2.5EPA FRS / BTS — hazard screeningUS Census ACS / TIGER 2024
Verified Price · Median Sale
$340,474
YoY+4.2%
Gross Rental Yield
7.0%
Listed rent · ZORI annualized
Red Flag Index
Moderate
44 / 100
Walkability Score
83
OpenStreetMap POI density · national percentile
Education Score
16 / 100
Pre-pandemic SEDA (2018/19) · district proxy
AI Score
62
DistrictScore attractiveness · national model
Oakland Property Prices & Rental Yield
Verified Redfin sale data and Zillow ZORI asking rent for Oakland, Chicago.
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Sign in to view — freeMarket Economics Snapshot
May 2026| Metric | Value | YoY |
|---|---|---|
| Median Sale Price | $340,474 | +4.2% |
| Price / Sq Ft (Verified) | $201/sqft | +3.7% |
| Asking Rent (Median) | $1,977/mo | +4.4% |
| Gross Rental Yield | 7.0% | — |
| Liquidity Score | 25 / 100 | Low |
| Homes Sold (Period) | 62 | +17.0% |
Is Oakland Safe? Natural-Hazard Risk
FEMA National Risk Index composite across eight hazards, plus inherited Illinois crime context.
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Sign in to view — free What Stands Out AI Insight
Above-average gross rental yield at 7.0%
Appreciating market — +4.2% sale-price YoY
Highly walkable neighborhood — score 83/100
Active transaction volume — 62 homes sold last period
Tornado risk is Very High (80/100)
Heat risk is Very High (80/100)
Insights are generated from Oakland's live DistrictScore metrics.
Oakland Environment & Safety
Satellite PM2.5 air-quality history, FBI UCR crime trend (Illinois-level, the finest official aggregation), EPA radon potential and point-source hazard screening.
Air Quality — PM2.5
2015–20247.0 µg/m³ Meets EPA, above WHO guideline-22.9% since 2015
EPA 9WHO 5
20152024
Annual mean fine-particle (PM2.5) concentration at the Oakland centroid, satellite-derived (ACAG). References: WHO guideline 5 µg/m³ · EPA annual standard 9 µg/m³. Latest year ranks worse than 80% of U.S. neighborhoods.
Illinois Crime Trend
FBI UCR20132024
All crimes / 1k
Violent / 1k
| Year | Crimes / 1k | Violent / 1k | YoY |
|---|---|---|---|
| 2024 | 20.0 | 2.9 | +0.0% |
| 2023 | 20.1 | 3.1 | +2.1% |
| 2022 | 19.8 | 2.9 | +13.2% |
| 2021 | 17.4 | 3.5 | -11.8% |
| 2020 | 19.9 | 4.3 | -13.1% |
| 2019 | 22.7 | 4.2 | — |
Reported at the state level — the finest official US crime aggregation; Oakland inherits the Illinois figures.
Radon Potential
EPAZone 2
Zone 2 — Moderate potential · Oakland
EPA radon zones estimate indoor radon potential county-wide (Zone 1 highest, Zone 3 lowest). Testing is recommended in all zones.
Environmental Hazards
EPA / BTSIndustrial odor1 nearbyModerate
Point-source screening near Oakland: EPA Superfund National Priorities List & Facility Registry (2026), BTS aviation noise (2020, 24-hour average level). Superfund shows distance to the nearest listed site; odor shows detected sources within the screening radius. Only detected sources are listed; the bar shows severity vs. all U.S. neighborhoods.
Walkability & Amenities in Oakland
Amenity density and pedestrian access from OpenStreetMap points of interest.
Walkability & Amenities
OpenStreetMap POI83
Very Walkable
Walkability Score
5
Grocery
4
Dining
10
Schools
1
Universities
2
Hospitals
0
Pharmacies
16
Parks
0
Rail Transit
0
Coworking
POI counts are amenities within Oakland's boundary plus a 400 m walk buffer. Rail transit excludes bus stops.
Oakland vs Chicago vs Illinois
How Oakland benchmarks against its city and state medians.
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Sign in to view — freeBuying Property in the US as a Foreigner
Federal & Illinois tax facts for non-resident buyers, plus the latest local market news.
Buying as a Foreigner
US Tax & OwnershipApplies to everyone7
Capital Gains (Federal)
Long-term capital gains taxed federally at 0/15/20%, plus a 3.8% Net Investment Income Tax on higher incomes (2026).
Property Tax
Property tax: ~1.79% average effective rate (statewide average; set and collected locally).
State Income Tax
State income tax up to 4.95%; rental income is taxed at these rates.
State Capital Gains
Capital gains are taxed as ordinary income at state rates.
Transfer Tax
Real estate transfer tax: $0.50 per $500 state + local.
Assessment Cap
No Proposition 13-style assessment cap; property is reassessed at market value.
Mansion Tax / Rent Control
No statewide mansion tax or statewide rent control.
US citizens & tax residents7
Primary-Home Exclusion
Selling your main home: exclude up to $250k of gain (single) / $500k (married) if you owned and lived there 2 of the last 5 years.
1031 Like-Kind Exchange
A 1031 like-kind exchange defers capital gains tax on investment property; 45 days to identify, 180 to close. Real estate only.
Depreciation Recapture
Residential rentals depreciate over 27.5 years; on sale, recaptured depreciation is taxed up to 25% (Section 1250).
Mortgage Interest Deduction
Mortgage interest is deductible on up to $750k of home debt. The SALT cap rose to $40,000 for 2025-2029 (reverts to $10k in 2030).
Opportunity Zones
Opportunity Zones are now permanent (2025): reinvested capital gains get deferral plus a basis step-up, and are tax-free after 10 years.
Rental Income (Resident)
Rental income is reported on Schedule E; passive-loss rules (Section 469) limit deducting rental losses against other income.
1031 State Conformity
The state conforms to the federal 1031 like-kind exchange rules.
Foreign buyers (non-residents)5
FIRPTA (Foreign Sellers)
FIRPTA: the buyer withholds 15% of the gross sale price when a nonresident sells US property. It is an advance deposit, not the final tax.
Non-Resident Capital Gains
Nonresident sellers pay US capital gains tax (generally 15-20%) on the net gain via Form 1040-NR; FIRPTA withholding is credited.
Non-Resident Rental Tax
Nonresident rental income is taxed at 30% of gross by default, or on net income at graduated rates via a Section 871(d) election (W-8ECI).
Estate Tax (Non-Resident)
Nonresidents get only a $60,000 US estate-tax exemption (vs $13.99M for residents); US property above it is taxed up to 40%. Treaties may help.
ITIN Requirement
Nonresidents without an SSN need an ITIN (Form W-7) to file US tax returns, claim FIRPTA refunds, and report rental income.
Talk to a US real-estate tax advisor
FIRPTA, ITIN & Illinois property-tax guidance for foreign buyers
Oakland Real Estate FAQ
Oakland in Chicago, Illinois shows a strong income-and-access profile, with a 7.0 gross yield, walkability of 83, and prices about 8% below Chicago. The offset is education in the 16th percentile and a Red Flag score of 44, so the profile is mixed rather than one-dimensional.
Neighborhoods near Oakland
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