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Old 12-26-2011, 10:51 AM
 
8 posts, read 14,269 times
Reputation: 10

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Folks,

Hope you all are having wonderful holidays!

After many months of research, we have finally zeroed in on a specific "set of suburbs" to spend next decade of our life.

Our main criteria were the proximity ( 5 miles max) to :

** Brickton montessori school at Cumberland and I-90
** Closer to blue line or metra for easy downtown access
** Closer to the I-94 for the easy reach to the Deerfield

Park Ridge, Morton Grove, Des Plaines are figuring on top of the list, in that order. We are looking for a new constructions in these suburbs and having hard time finding new projects.

Do you know of any projects that you would like to recommend?

Also, what do you think of a Gateway Estates at Park Ridge by Pulte homes? I am going to visit this place today as it seem to a great match location wise. Ideally we would like to spend max of 350K but open to stretch till 425K.

THanks for reading and happy holidays to everyone.

Cheers,
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Old 12-26-2011, 03:46 PM
 
Location: Placentia, Orange County, CA
201 posts, read 514,682 times
Reputation: 114
In the areas you're interested in, I think the only new development is Gateway Estates. I drive by it frequently. I don't remember when they first broke ground for that development but it seems like a long time ago. Does anyone out there know? It was like one day they had a few dwellings up and they stood by themselves for a long time and then a bunch sprouted up like mushrooms. Be careful with Pulte builders. I've heard some good and bad things about them. The bad is slip shod construction. Relatives of ours have a home in one of the Del Webb communities here, which are built by Pulte, and so far they've been lucky but some of their neighbors haven't. Do a lot of research first and look at the models with a fine tooth comb. Investigate Park Ridge property tax while you're at it. It runs considerably higher than most areas in Des Plaines and Morton Grove. Caveat Emptor and Good Luck!
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Old 12-30-2011, 06:04 PM
 
8 posts, read 14,269 times
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Hello Mr. RaidoJunkie2006,

We just did the walk through of the home and also the neighbourhood. We returned with big smile on the face. We instantly liked the house.

Since you drive by the house every day, what can you tell us about this neibourhood? Is it safe? Demographics? schools in the area? We have 3 yrs old.

Very good friend of mine also purchased the house built by Pulte, she is super happy about it. She provided us with some pointers to watch out for.

Although their chepeast model of $454k is also too much for our comfort. We would like to keep it at $400K. Can someone more exprienced tell is if it reasonable to expect closingn for that less? and what should be the ideal initial bid?

Also, I would be interested in knowing if this property right on the northwest hgwy is rentable in your opinion? Also real estate trends of Park Ridge during current housing slowdown?

I know I asked too many questions, so I appreciate any time that you can provide to us..

And yes, you are welcome to our housewarming party!!!

Cheers,
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Old 12-31-2011, 08:33 AM
 
Location: Placentia, Orange County, CA
201 posts, read 514,682 times
Reputation: 114
Hi Happy2012,

Park Ridge is a beautiful and very safe community. I and my family lived there, briefly, in the late 80s and I grew up in Chicago in the neighboring area of Edison Park. I've always loved the place and I wish we could have made our stay there permanent but the housing prices and property tax were a bit too high for our young family at the time. Park Ridge has a lot to offer and Gateway Estates is only a few blocks from Uptown Park Ridge where the action is. This link will give you a lot of info:

http://www.city-data.com/city/Park-Ridge-Illinois.html

I can't say how much you can negotiate on the price as it is new but then again real estate sales are a bit slow. I can tell you that nearby condos which were brand new in the early 90s were selling at a starting price of $279K I believe. I'd get a real estate agent to help. They can answer a lot of questions.

Where will you be moving from and where will you be working? You'd be very close to public transportation. The area is served by both CTA and Pace buses and the Metra train station is in walking distance.

Northwest Highway and Touhy Avenue to the north are very busy streets; I might be a bit concerned about youngsters regarding this but motorists drive pretty sanely through this area do to the amount of traffic.

IMHO, Park Ridge would be the best choice from the list of communities you mentioned as far as quality of living. And thanks for the invite to your housewarming! Glad to be of help. Good luck to you in 2012.

Happy New Year!
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Old 12-31-2011, 11:01 AM
 
8 posts, read 14,269 times
Reputation: 10
Hey there,

We will be moving in from Mt. Prospect. I work in downtown for the most part, wifey in deerfield.. Son most likely to goto Brickton Montessory near Cumberland blue line which is 3 miles away.. Making uptown Park Ridge an ideal central place for us.. me think!


We decided not to jump but explore more options including foreclosures and short sells in this neighborhood and bought ourselves until June 4th to close ( just renewed the lease until then).


Hope this turns out to be great decision and we look forward to spending a next decade of our lives there!
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Old 01-06-2012, 07:24 PM
 
Location: Chicagoland
4,028 posts, read 6,254,329 times
Reputation: 1305
I would not move there at this time. It is a small area off of a busy road and with the uncertainty of what will happen to the building that used to house the Polish Women's Alliance, it just does not seem like a place that I would put money into.

How "new" is new?
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Old 01-31-2012, 09:53 AM
 
8 posts, read 14,269 times
Reputation: 10
Quote:
Originally Posted by thePR View Post
I would not move there at this time. It is a small area off of a busy road and with the uncertainty of what will happen to the building that used to house the Polish Women's Alliance, it just does not seem like a place that I would put money into.

How "new" is new?

It's a brand new unit. Just built. Pulte is having trouble selling these units. We do like busy street. I think we can get a great deal for this house.

Can anyone advise what's the current price per sq feet in this area?

thanks,
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Old 01-31-2012, 10:30 AM
 
Location: Placentia, Orange County, CA
201 posts, read 514,682 times
Reputation: 114
Gateway Estates is pricing at approximately $174 per sq. ft. according to Redfin for this featured unit. It'd be good for you to check out other nearby properties on Redfin's site; I find them on top of their game most of the time. Check out their site here: Real Estate Search | Redfin
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Old 01-31-2012, 05:28 PM
 
8 posts, read 14,269 times
Reputation: 10
Thanks! That site was useful..

My initial impression is that we will be able to close this for $150 - $155 per sq ft for this property. I am going to keep a close watch and hopefully close before the summer..
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