Calumet City for Investment Property? Yay or Nay?

[oldhousegirl]

Just popping in to check the thread. Thanks much to everyone for their helpful posts. Allen2323, thanks for posting numbers. What source do you recommend for statistical data like poverty rates and such?

[doublenickels]

Calumet City has to have the highest sales taxes in Illinois. Given events of the last week, Calumet City will be paying a bunch of lawyers a ton of money for a long time. They will probably squeeze a few more sales tax pennies on those receipts.

[Paloncho]

The problem wit Calumet City is that the real estate taxes are very expensive, how it is posible that a house such market value is less than 80k the taxes are almost 4,000 dls? at this time I am thinkin to leave the town and move to other with taxes less expensive, now is running the chit chat that the entire river oaks mall will close, I thing that means that the real estate taxes will increase a lot.

[McNick]

If you want to live to see another day, I would avoid buying ANYTHING in Cal City including the mall.

[urza216]

Originally Posted by .Gioobag

Isn't river oaks closing down?

Lincoln Mall isn't even closing down. Where the hell did you hear that River Oaks, a mall that's always crowded, was closing down? Perhaps you're trolling and making this up in your post right now..

Just because *you* don't like the crowds at River Oaks, it doesn't take away the fact that they're CROWDS generating profits..

Posts like this are annoying because when it comes time to ask legitimate questions, there's too much misinformation. It's true that River Oaks is surrounded by some pretty rough areas. It's true that it doesn't seem like there's much money over there. So why is River Oaks doing so WELL while Lincoln Mall is crumbling?

[BRU67]

Actually, the area around River Oaks mall isn't that bad. Some parts of Cal City may be but not really over there.