Should I buy this house in Evanston for $53K as an investment? (Chicago: crime rate, roughest)

[cdc3217]

Originally Posted by KRAMERCAT

I did notice that the home was built in 1895. Is that common for that area? In Scottsdale we rarely see homes over 40 years old.

Yes there are many homes from this time period still viable in CHicagoland.
Check it out - sounds like it could be a great opportunity.

[bobinc]

what needs to be fixed

[SloopyJ]

[quote=Sarah H.;8172216]Willard school, as I understand it, is pretty good. QUOTE]

This house is in the area known as the "Willard Island", which is literally an island of comparatively lower-income residents that gets bused to Willard School to balance out diversity there (Willard is located in much more affluent - and almost entirely white - northwest Evanston).

$53K is still really cheap, but know that Evanston is in constant discussions about whether to continue to keep sending kids in this area up to Willard. It will probably continue for a while, but it's problematic for kids in this area in that some go to Willard, but others have no interest in getting bused to another part of town. So some kids petition to go to other Evanston public schools closer to them, others go to the magnets, and much of the benefits of neighborhood public schools are lost in this little area.

[KRAMERCAT]

Originally Posted by middle-aged mom

Summer house?

This is not your typical summer cottage or neighborhood.

It would be a summer escape from the AZ heat. eems like it would be a better investment than a 1 bedroom condo for the same price.

[ngrome]

Better act fast before I beat you to it...

Yes, get an inspection done, in addition to check what was mentioned previously, also do a radon test and lead-based inspection, another $150-$200, for something that old.

[ajolotl]

When I lived in evanston (10 years ago) that was the ghetto. I wouldn't have wanted to live there.

[pittsteelerfan]

Originally Posted by KRAMERCAT

I did notice that the home was built in 1895. Is that common for that area? In Scottsdale we rarely see homes over 40 years old.

That's cause Phoenix and the surrounding area, barely existed 50 or 60 years ago!

P.S. Also why 'most' of the sunbelt areas lack any real character! Old is just "old" when looking in those sunbelt places. Where other parts of the country, the mature lots, time period the home was built, not to mention all the word work that will exist inside, is how they describe a fine whine as it ages, or when a man goes gray, "character", "aged", etc.

[KRAMERCAT]

Originally Posted by ngrome

Better act fast before I beat you to it...

Yes, get an inspection done, in addition to check what was mentioned previously, also do a radon test and lead-based inspection, another $150-$200, for something that old.

You are welcome to - I was mostly just wondering. I am not sure if now is the time to buy - I see the economy getting a lot worse, even if the market is up now.

[Lookout Kid]

It's in the Hood. But $53K is a good price for the Hood in Evanston. I wouldn't want to live there, but it could be a good investment property...

But at that price, I'd worry that the foundation was bad or that there was nuclear waste burried in the back yard or something.

[Flatlander]

This is really not what most people would consider "by the lake". Have you driven by the house or through the neighborhood yet? I agree with the OP, this is not a typical "summer neighborhood".