Lower West Side (Pilsen area) (Chicago: section 8, to rent, crime)

[BRU67]

Originally Posted by urbanlife78

Little Village is another area I am interested in learning more about just because of its proximity to the El.

AKA South Lawndale in official speak. Here's the link from Wiki on it.

South Lawndale, Chicago - Wikipedia, the free encyclopedia

It's a completely different world from Lincoln Park, Lakeview, etc. Lots of Mexicans, and lots of Mexican businesses. They have the best Mexican food in the City, and feels like you're in a different country. I imagine you'd have some serious bragging rights as a hipster if you went there and toughed out a lease.

Of course, the drawback is gang activity, which is high there. While you yourself would likely be left alone, so long as you didn't look like a deer in a set of car headlamps every time you walked out of the house to get a six pack of Modelo, I'd be concerned about becoming an accidental victim of a misunderstanding between gang members.

Personally, I don't know. If I wasn't going to do Pilsen, I'd probably skip over Little Village and go to Cicero or Berwyn. Much safer, and not much further from the Loop in terms of your Pink Line commute.

[ChiNaan]

Originally Posted by BRU67

That is correct. "Lower West Side" is the official name of the community area of which Pilsen is a part. Heart of Chicago is also part of it. It is Community Area #31.

Lower West Side, Chicago - Wikipedia, the free encyclopedia

Not many people use the term "Heart of Chicago," either, though. People generally refer to all of the Lower West Side as Pilsen, even clear down in the little Italian district in the SW corner of it.

[ChiNaan]

Originally Posted by BRU67

AKA South Lawndale in official speak. Here's the link from Wiki on it.

South Lawndale, Chicago - Wikipedia, the free encyclopedia

It's a completely different world from Lincoln Park, Lakeview, etc.

It's also a completely different world from Pilsen, despite what ambitious landlords and realtors would like you to believe. There has been little-to-no gentrification in Little Village, and crime rates there (including murder rates) are quite a bit higher.

[urbanlife78]

Originally Posted by BRU67

AKA South Lawndale in official speak. Here's the link from Wiki on it.

South Lawndale, Chicago - Wikipedia, the free encyclopedia

It's a completely different world from Lincoln Park, Lakeview, etc. Lots of Mexicans, and lots of Mexican businesses. They have the best Mexican food in the City, and feels like you're in a different country. I imagine you'd have some serious bragging rights as a hipster if you went there and toughed out a lease.

Of course, the drawback is gang activity, which is high there. While you yourself would likely be left alone, so long as you didn't look like a deer in a set of car headlamps every time you walked out of the house to get a six pack of Modelo, I'd be concerned about becoming an accidental victim of a misunderstanding between gang members.

Personally, I don't know. If I wasn't going to do Pilsen, I'd probably skip over Little Village and go to Cicero or Berwyn. Much safer, and not much further from the Loop in terms of your Pink Line commute.

I am not actually looking to live in any of these areas, I am more looking into the idea of investing with buying multifamily buildings in the coming years. Something I would like to start out small with, buying something like a 4unit building first. Right now I am just trying to get a better understanding of neighborhoods I have yet to visit or spend any time in on my trips I have taken to Chicago.

[Irishtom29]

We used to have White flight, now gentrification means Mexican flight. I guess the Mexicans are going to follow the Bohemians clear out to Lagrange and Downers Grove.

[ChiNaan]

Originally Posted by Irishtom29

We used to have White flight, now gentrification means Mexican flight. I guess the Mexicans are going to follow the Bohemians clear out to Lagrange and Downers Grove.

Yep...While young white people from the burbs move into the city. It's a big circle of sorts.

[chet everett]

I don't see where the inference that "Chet says it won't gentrify" came from -- there is a whole big range of ways that things can go but the patterns around DePaul and the Lakefront are driven by signficant factors that won't be replicated in other parts of the City. Among those patterns are the relative lack of condemnation driven redevelopment that meant DePaul built their campus a whole differently than UIC, the unique features of Lincoln Park, relative proximity / ease of access from Lincoln Park to/from other northside recreational / entertainment districts from the Gold Coast through Wrigleyville and all the way up to Evanston, relative isolation from expressways and associated industrial traffic and a historic pattern of immigrant isolation vs assimilation...

It does not seem like the OP is particularly interested in "flipping units for a quick buck" and a stratgey of renting to whatever students and/or longer term residents desire units is probably pretty realistic.

[BRU67]

Originally Posted by urbanlife78

I am not actually looking to live in any of these areas, I am more looking into the idea of investing with buying multifamily buildings in the coming years. Something I would like to start out small with, buying something like a 4unit building first. Right now I am just trying to get a better understanding of neighborhoods I have yet to visit or spend any time in on my trips I have taken to Chicago.

That's probably even more risky to be honest. I have a rule -- don't buy a rental in any place you wouldn't live yourself. It's a different set of rules, a different set of problems, and an entirely different culture you will be dealing with. Most basically, many of your prospective tenants will not speak English, and common-sense things like credit checks or two month deposits, that a landlord would do in a "normal" neighborhood, for lack of better terminology, will cut your prospective rental market to the point where you might not be able to get continuous occupancy, which might cause problems with, you know, paying the mortgage.

Personally, if I were a newcomer to the rental game, I'd stick to east Pilsen and try to rent to students. Just my $.02.

[ChiNaan]

Originally Posted by chet everett

I don't see where the inference that "Chet says it won't gentrify" came from

It came from you:

Originally Posted by chet everett

The general developement patterns are unlikely to mirror Northside trends. If you goal is to be landlord you will have different target demographics and likely rents that will never get as high as those in areas similar close to the Loop but north, some of the reason include the differences in the degree to which Northside college campuses like DePaul are well integrated into rest of the neighborhood vs the more monolithic effect of UIC AND the various medical facilities serve as "non-commercial wall" toward development...

Your whole post pretty well indicated that you don't really "get it," which is why I quoted the whole thing, but this would be the part where you don't seem to see the gentrification pattern happening. As with most of your posts on this forum I'm not sure if you're really as out of touch as you appear, or you just enjoy being contrarian at all costs. I tend to think it must be the latter, but I wonder sometimes.

[urbanlife78]

Originally Posted by chet everett

I don't see where the inference that "Chet says it won't gentrify" came from -- there is a whole big range of ways that things can go but the patterns around DePaul and the Lakefront are driven by signficant factors that won't be replicated in other parts of the City. Among those patterns are the relative lack of condemnation driven redevelopment that meant DePaul built their campus a whole differently than UIC, the unique features of Lincoln Park, relative proximity / ease of access from Lincoln Park to/from other northside recreational / entertainment districts from the Gold Coast through Wrigleyville and all the way up to Evanston, relative isolation from expressways and associated industrial traffic and a historic pattern of immigrant isolation vs assimilation...

It does not seem like the OP is particularly interested in "flipping units for a quick buck" and a stratgey of renting to whatever students and/or longer term residents desire units is probably pretty realistic.

No, I have never had any interest in flipping units, I think that is what caused a lot of the problems leading up to 2008. Actually I am more interested in building a foundation of units and growing from there. Ideally I would like to eventually get into doing small time developing and put my architecture degree to work for myself.