Can we afford to live in the city and raise a family? (Chicago: best neighborhood, for sale)

[alainak2]

My husband and I have a baby girl and we currently live in Old Town. We'd like to continue to live in the city but we need more space. We need at least 4 bedrooms and 2,000 sf +. Our budget will most likely be $450k max. By the looks of the real estate prices we have to go north or west of the city. We don't want our commute time to be ridiculous and we want it to be safe so that we can walk around the area and enjoy ourselves. Are we better off looking at the suburbs?? What areas in the city or suburbs would you recommend to have a city feel, safety, access to activities and short commute downtown. Thanks for your advice!

[chet everett]

In all honestly a budget of $450K for 4br will not go far in any of the hot parts of Chicago nor will it be a slamdunk in even the most value-oriented suburbs.

If you could get by with 3br you would have a lot more flexibility. I know that some folks want / need extra rooms for a home office or room for family to stay when visiting and there very well might be some places that would suit these needs very well with a "bonus room" in the basement or over a garage.

I do know that a handful of towns with VERY VERY convenient Metra commuter rail service can easily get one to work in the Loop in well under half and hour -- places like Brookfield and Berwyn do not have an abundance of 4br homes but some are available in your price range.

[jdiddy]

Within city limits, yes. Depends what you mean by 'city feel' though. A city neighborhood like Beverly won't be much different in that than inner ring suburbs like Berwyn. I'm sure you've figured out 450k won't get you a 4br place in the denser portions of the city.

10208 S Oakley Ave, CHICAGO, IL 60643 | MLS# 08265816 | Redfin

[rparz]

Simple fact is that 4br housing wasn't all that common until the last 15-20 years. It was 3 bd houses in the 60's and 70's, and before that, 2bd was common. What's the average age of the housing stock you're looking at?

Unless you find something with newer construction or take on the modifications yourself, you'll have to look to more recent developments.

[marothisu]

Might be able to find it in Old Irving Park/Irving Park or something similar at least...and some other communities up that way.

[hindukid]

There are 2000 square foot duplex downs in West town, noble square, east ukrainian village & ukrainian village. Most are three bedrooms but some are four. Most I have seen sell for 400 to 450K. loop is less than ten minutes train time.

[Larry Siegel]

It should not be any problem if you are willing to live in a less than totally gentrified area on the northwest side, as several people have pointed out. Or you could live in a mansion in Beverly.

I don't know what you plan to do about schools; we faced this choice a long time ago and wound up in Wilmette, in a very small 3 bedroom house that "grew" twice and is now a 4-1/2. You can go that route too; larger homes are the norm up here, and are not in short supply; there are plenty of 4 bdrs in Evanston (fewer in Wilmette) in that price range if you are willing to look a little off the beaten track. This 818 Washington St, Evanston, IL 60202, $450,000, Evanston, Illinois real estate for sale recently sold in Evanston and it's 4 bdr, in a beautiful, racially mixed and gentrifying area.

[chet everett]

Larry makes a great point -- if you do not absolutely NEED 4br NOW it is wise to find the best neighborhood you can and then budget for an expansion down the road. Some house with only two or three bedrooms can be EASILY expanded with a "dormer" or similar upper level changes for less than the cost of a mid-priced car. The impact of these kind of changes on one's property tax bill tends to be FAR easier to swallow than "over buying" and paying SUPER HIGH property taxes...

Originally Posted by Larry Siegel

It should not be any problem if you are willing to live in a less than totally gentrified area on the northwest side, as several people have pointed out. Or you could live in a mansion in Beverly.

I don't know what you plan to do about schools; we faced this choice a long time ago and wound up in Wilmette, in a very small 3 bedroom house that "grew" twice and is now a 4-1/2. You can go that route too; larger homes are the norm up here, and are not in short supply; there are plenty of 4 bdrs in Evanston (fewer in Wilmette) in that price range if you are willing to look a little off the beaten track. This 818 Washington St, Evanston, IL 60202, $450,000, Evanston, Illinois real estate for sale recently sold in Evanston and it's 4 bdr, in a beautiful, racially mixed and gentrifying area.

[3Series]

1. You can live in the city and raise your kids. It just depends on where.
2. Needs and wants are different.
3. You won't find 2k sqft and 4br in Old Town for $450k, period. You'll be moving far from Old Town to find anything with your requirements.

[C. Maurio]

Originally Posted by alainak2

My husband and I have a baby girl and we currently live in Old Town. We'd like to continue to live in the city but we need more space. We need at least 4 bedrooms and 2,000 sf +. Our budget will most likely be $450k max. By the looks of the real estate prices we have to go north or west of the city. We don't want our commute time to be ridiculous and we want it to be safe so that we can walk around the area and enjoy ourselves. Are we better off looking at the suburbs?? What areas in the city or suburbs would you recommend to have a city feel, safety, access to activities and short commute downtown. Thanks for your advice!

The suburbs are far better for a family. The housing is cheaper, it is cleaner and safer and you do not have to pay Chicago's biggest tax- private school tuition for your kids. That is why we moved out here.