|
Foreclosure is an epidemic in the north half of Elmwood Park. In the Tribune or Crain's Chicago Business a few months ago, an article listed EP in the top 10 for foreclosures per square mile -- along with much poorer suburbs such as Stone Park, southern burbs, etc. These are almost exclusively in the north half of town where the housing stock and lot sizes are more modest. The better part of EP is to the south of the Metra tracks -- generally the closer to North Avenue and Thatcher, the better. Although the first block or two in off North is susceptible to pass-through break-ins -- people going back and forth between the West Side of the city and the Maywood/Melrose Park. Not a lot of foreclosures down there, but the prices are adjusting because the feeder market (north part of town) has dried up.
|