Rent to own Homes in Bellwood, IL
The idyllic village of Bellwood is located just west of downtown Chicago within the township of Proviso, Cook County. Formerly home to vast farmlands, lots of folks began flocking to the area in the early 1900s, and many places of business began to open. Shortly after, local tavern owners successfully pushed for the village's incorporation to avoid being annexed by a neighboring dry town. Today, Bellwood is a convenient suburb with all sorts of great amenities, and the fun of downtown Chicago is just a stone's throw away.
Bellwood, IL is a great place for affordable rent-to-own homes! With a median household income of over $63,006 and a median rent of $1,043, the Bellwood, IL rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Bellwood, IL. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Bellwood, IL Property Resources
Rent to own Homes in Cities Near Bellwood, IL
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- Bedford Park
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- Chicago Heights
- Downers Grove
- Elmhurst
- Evanston
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- Glendale Heights
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- Glenview
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- Hometown
- Indian Head Park
- La Grange Park
- Lincolnshire
- Lockport
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- Markham
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- Niles
- Oak Brook
- Oakbrook Terrace
- Oak Forest
- Palatine
- Palos Heights
- Rosemont
- Schaumburg
- Schiller Park
- Thornton
- Westchester
- Willow Springs
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Neighborhoods in Bellwood, IL
Bellwood rent to own homesPopular Zip Codes in Bellwood, IL
60104 rent to own homesBuying a Home in Bellwood, IL
Bellwood, IL is seeing rapid growth and Bellwood, IL's' housing market remains optimal with an average home price that is -26% below the 2024 national average. Bellwood, IL is part of Cook county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Cook is 1.38% which is above the national average, which is 0.99%.
Median Home Price in Bellwood, IL
Median Rent in Bellwood, IL
Top 7 Reasons to Live in Bellwood, IL
Get to Chicago quickly! Bellwood is just 13 miles west of Chicago, which means world-class entertainment and cultural activities can be enjoyed anytime. Residents can head to the Bellwood Metra Station near Choice Direct Logistics and get inside the Loop quickly via train. Interstate-290 (Dwight Eisenhower Expressway) also runs through the village and can take drivers to Chicago in just over a half hour.
Party when the sun goes down! A Touch of the Past is known for its strong drinks and laid-back atmosphere, and hosts everything from poetry nights to live blues music. The D'Tox Bar and Ultra Lounge boasts a festive atmosphere and great music nearly every single day.
Reasonable real estate prices! Property value is increasing in Bellwood, but the price is still $95 per square foot on average. That makes it an advantageous time to buy a residence or rent to own one. Suitable pads can be found all over town, from Ariston Restaurant in the south part of Bellwood to the Chicago Eye Center in the north.
Have a great meal! For a tasty dinner in a nice setting, head to Stacy's Cafe and order everything from sauteed mushrooms to chopped steak. For something quick, hot dogs and fries at Mickey's Drive-In is a solid option.
Get outside and exercise! Nearby Lake Michigan offers everything from water-skiing to swimming. Stevenson Park has basketball courts and room for jogging. Flippinger Park has nice space for tossing baseball, and Thatcher Woods features great hiking trails.
Get a house with a yard! Bellwood is the perfect place to settle down because it features suburban residential benefits, like homes with private lawns, while still being very close to one of America's biggest cities. You can find a house for sale or rent that has a nice yard all over town, from near Stratton Hats to the Babe Ruth Park neighborhood.