Where can I get a town house near downtown for under 400k? (Chicago: section 8, real estate)

[macno0b]

I've just moved to Chi-town. I work near the red CNA building in the Loop. I'm looking to buy a townhouse somewhere close to work (15-20 mins by train).

What areas would you recommend for someone who wants to have all the major shops (starbucks, walgreen...) around, easy access to the brown/red line, be surrounded with young professionals in the 20's-30's, be close to downtown, enjoy the city lifestyle, quiet and safe area ...

Can I realistically get a townhouse with 2,3 beds 2 baths for under $400k in that area?

Thanks,

[Drover]

Townhouse... pushing it. Condo... no problem.

[emathias]

Originally Posted by macno0b

I've just moved to Chi-town. I work near the red CNA building in the Loop. I'm looking to buy a townhouse somewhere close to work (15-20 mins by train).

What areas would you recommend for someone who wants to have all the major shops (starbucks, walgreen...) around, easy access to the brown/red line, be surrounded with young professionals in the 20's-30's, be close to downtown, enjoy the city lifestyle, quiet and safe area ...

Can I realistically get a townhouse with 2,3 beds 2 baths for under $400k in that area?

Thanks,

Professional psychiatric care is my recommendation.

Actually, you might be able to find something in the 1980s developments in the South Loop, or in the "mixed-income" developments north of Division near Halsted. Neither will be fancy, but there may be a few townhomes in those two criteria that more or less meet your criteria with a few caveats.

[chet everett]

I think the OP needs to clarify what they mean by townhouse. Certainly there are places with the "everything built with common elements" style that are part of HOAs and all those negatives that are really more like condo because they stack other units under/ over yours that would be in the price range quoted. To get a place that is has nothing by your space to the roof and down to a private parking / garage area is probably going to be hard to pull off EXCEPT for the developments that have busted out HOAs and/or too many non-owner occupied units so that only cash deals are possible...

Rowhouse style townhouses with no shared elements are rare and still out of price category for the most part unless you go to unpopular locations.

[RingWalk]

As Emathias said the only thing that comes to mind is the mixed-income development at Halsted and Division built over Cabrini.

That being said...I don't really know the cost of townhomes in places like Wrigleyville, all those nice ones north of Boystown, Uptown. It might be possible.

Nice townhomes in the Gold Coast/Lincoln Park/Lakeview/Old Town area, no. They would be far more expensive. You might in some areas find some run-down one off or something...

I guess the point of my post is that if I think of someone looking to buy a townhome in one of the more desirable neighborhoods, including Ukie Village/Wicker Park or West Town area, the number that comes to mind would generally be about twice what you propose. But, as I said, Chicago is a big city and things change street to street, block to block. I guess it really depends on your absolute commitment to buying a townhome and how many other things you're willing to sacrifice to get it. (Neighborhood, quality of the house, etc.)

Some of the most beautiful townhomes and neighborhoods in my view are those down west Huron, Erie and that area as far west as the Damen/Western border. That's not really a 'hip' neighborhood but there is an abundance of amazing townhomes there. I doubt you would be able to get into anything new but you might find something worth looking at for that price out there.

But in practical terms, I would say the answer is no.

[macno0b]

Thanks for all the reply guys. I meant townhouse as a place that has nothing by my space from roof to parking. What about short sell, foreclosures townhouse in Oldtown, lakeview, west town ...?

How do you guys think of the "mixed income" development? Is it by the new Apple Store? I drove by before. The area looked not too bad.

[RingWalk]

Your first question, I don't know.

Regarding the second question, it is a nice development. It's like an experiment, I think it mixes government subsidy housing with normal condo buyers. Let's put it this way it's been open for several years and they still are trying to get people to buy in.

It probably had some momentum when it opened and I would guess the momentum has stopped and it is basically a loser. They're still marketing new units years after it opened; hopes of reselling your used unit if you want to leave are probably not very good.

[macno0b]

After reading up online, I don't think I want to risk having the hassles living with the section 8 people. How much do I expect to pay for a nice Townhouse with the criteria in the first post in Old Town?

I might have to consider condo. How is the condo market in Old Town, Lakeview, West town ...?

[emathias]

Originally Posted by macno0b

After reading up online, I don't think I want to risk having the hassles living with the section 8 people. How much do I expect to pay for a nice Townhouse with the criteria in the first post in Old Town?

I might have to consider condo. How is the condo market in Old Town, Lakeview, West town ...?

Why not just go retain a real estate agent?

[Vlajos]

Originally Posted by Drover

Townhouse... pushing it. Condo... no problem.

This