U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Illinois > Chicago Suburbs
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 01-04-2012, 05:40 PM
 
1,796 posts, read 6,073,244 times
Reputation: 1171

Advertisements

This looks intriguing. From the pics it apears to be maintained and lived in and not vacant. New sump pump = possible water issues. Beginning to look for investment property for rental purposes.

1225 River Dr Calumet City IL - Home For Sale and Real Estate Listing - MLS #07489085 - Realtor.com®
Reply With Quote Quick reply to this message

 
Old 01-04-2012, 06:45 PM
 
28,384 posts, read 67,987,556 times
Reputation: 18190
While it appears to be a heckuva low price and pretty habitable condition the lack of decent schools (not a single one made adeqaute yearly progress --
http://iirc.niu.edu/SearchResult.asp...ALUMET%20CITY$) means you will not attract tenants that are interested in educating their kids so that is huge negative and the lack of decent jobs in the area would make me worry that there are no qualified tenants in the area...
Reply With Quote Quick reply to this message
 
Old 01-04-2012, 08:10 PM
 
1,796 posts, read 6,073,244 times
Reputation: 1171
Thanks Chet.
Reply With Quote Quick reply to this message
 
Old 01-04-2012, 09:01 PM
 
28,384 posts, read 67,987,556 times
Reputation: 18190
The bigger worry I have is what can be done to reverse the trends of depopulation and decay that plague too many towns that used to have a pretty solid hardworking population. Cal City is maybe 25 miles south of the Loop and it is like a ghost town along some of the arterials. Sadly even supporters of a "third airport" don't talk about any plans to ever open such a facility with the fall off in travel and shipping that has been depressed with the rest of the economy...

I wish there was more to be optimistic about but the reality is the southern suburbs are hurting very much worse than places north or west of Chicago. The scale of the blight in towns like Cal City is going to be positively Detroit-like soon...
Reply With Quote Quick reply to this message
 
Old 01-05-2012, 12:54 PM
 
11,898 posts, read 14,375,910 times
Reputation: 7536
Maybe. When you hit bottom you can only go up. Calumet City is pretty close now, so it just might be the time.
Reply With Quote Quick reply to this message
 
Old 01-05-2012, 01:19 PM
 
28,384 posts, read 67,987,556 times
Reputation: 18190
While real estate broadly examined is cyclical the value of any specific piece of real estate may actuall go to and stay at zero. There are literally thousands of parcels in all kinds of cities that are valueless. No one wants them, even for no initial upfront cost...
Reply With Quote Quick reply to this message
 
Old 01-07-2012, 03:57 AM
 
1,002 posts, read 1,418,288 times
Reputation: 493
I would not call that property, in that area, an investment. I'd call it throwing away 35K. In a good area, I'd call it a tear down it literally has nothing going for it. The whole house looks like it needs a complete reno. But this is all a moot point as it's in Calumet City.
Reply With Quote Quick reply to this message
 
Old 01-07-2012, 08:14 AM
 
Location: Barrington, IL area
1,594 posts, read 2,547,344 times
Reputation: 4937
Cal City is a dump.
Reply With Quote Quick reply to this message
 
Old 01-07-2012, 10:13 AM
 
4,176 posts, read 5,306,038 times
Reputation: 1843
Quote:
Originally Posted by pvande55 View Post
Maybe. When you hit bottom you can only go up. Calumet City is pretty close now, so it just might be the time.
Do you really think Calumet City will be better in the future (say 20 yrs from now) than it is now? What is your evidence, besides the fact that you think it can't get much worse (which isn't even true)? There's NO way Calumet City will improve anytime soon, if at all. Just look how bad its home state and county are doing.
Reply With Quote Quick reply to this message
 
Old 01-07-2012, 10:14 AM
 
4,176 posts, read 5,306,038 times
Reputation: 1843
Quote:
Originally Posted by oldhousegirl View Post
This looks intriguing. From the pics it apears to be maintained and lived in and not vacant. New sump pump = possible water issues. Beginning to look for investment property for rental purposes.

1225 River Dr Calumet City IL - Home For Sale and Real Estate Listing - MLS #07489085 - Realtor.com®
If you pay $0.01 for this house, your got ripped off.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2016 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Illinois > Chicago Suburbs
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top