Am I missing something? Lincoln Park, Irving Park housing (Chicago: real estate, condos)

[pdxmommy]

My husband may be getting a job in Schaumburg. We would love to live in the city. I've heard Lincoln Park is excellent but I read on others posts that the commute to Schaumburg would be 1.25 hrs minimum. I also read that Jefferson Square (?) and Irving Park would be nice alternatives and cut the commute by 20 minutes.

I have been looking at housing online. We need at least a 3 bedroom. I am finding 3 bedrooms in Lincoln Park ~1700 sq ft, some brand new in the $500k range. And even bigger places in Irving Park in the $425k range. Am I missing something??? Is there something wrong with these places? I was expecting it to be more expensive.

Also, would we be completely nuts for living in one of those areas and having my husband commute to Schaumburg? I am a stay at home. We have a 1 year old and another one on the way.

[Avengerfire]

Expecting them to be more expensive? Where are you from N.Y.C.?
For most people that were born in Chicago in blue collar families 500k is ridiculous.
I am not trying to be mean, but you used to be able to get a decent 3 bedroom in a decent area for like 125-175k 15 years ago.

As far as the commute you would be better off in Jefferson Park, Norwood Park, the O'Hare area,Edison Park... I recommend Edison Park the most.

Good luck...

[j33]

No those prices are about right. Damn shame too

.... I'm with Avenger, I grew up with a dad who worked construction, during the 70's one could actually afford to buy a house for your family on those wages (perhaps not in the swankiest of neighborhoods as I grew up in the south suburbs, but the point was that housing was not entirely out of reach to those who made the modern day equivalent of 35-60k a year).

[UnderTheLiveOaks]

I have friends in real estate who fairly regularly buy full single family homes (3-4 bedroom houses, often with freestanding garages) in the Mayfair area (between Lincoln Square and Jefferson Park) for 400k.

[Lookout Kid]

I'm assuming you're talking about condos in the case on Lincoln Park? Most free-standing houses of any kind are well over a million dollars in that neighborhood. But you can still find single-family homes in Irving Park for around $500,000. Why? Irving Park is a very mixed-income community and there are still some gangs around. It's much further from the Loop than Lincoln Park, and has less density. If you look at the statistics, Irving Park still has a huge percentage of Latino residents, and this does still scare off some buyers, regrettably.

[via chicago]

Originally Posted by Avengerfire

Expecting them to be more expensive? Where are you from N.Y.C.?
For most people that were born in Chicago in blue collar families 500k is ridiculous.

totally agree. if you grew up in this city, you know how ridiculous the statement "only $500k?" is...esp for a 3 bedroom house. because when all is said and done, its the rough and tumble blue collar set who built this city and make it what it is, not the Trixies and Chads walking around Lincoln Park.

[Lookout Kid]

Everyone made this city what it is. People in Chicago tend to over-glorify the working class roots of this city. The elites had as much (if not more) to do with making Chicago what it was/is as the blue collar workers. We have always had both in Chicago, and each makes his/her own contribution. In fact, it's the yuppies who are driving the city forward now that the manufacturing economy has dried up. Without all of the yuppies in Chicago goign to their creative class jobs, this town would be down the tubes just like Detroit. We have escaped that fate because of the middle and upper class interest in the city.

I say this fully recognizing the fact that my roots are entirely working class. My relatives lived on the south side and in towns like Gary, Calumet City, and Hammond. Many of them only had 8th grade educations and worked for the railroads and as seamstresses in corset factories. I don't deny their part in making Chicago great--but we can't overstate it either while devaluing the contributions of others.

[j33]

I agree with you Lookout Kid. There has to be room for all of us here. I'm a former south-suburbanite with blue collar roots myself, but working in the arts now (and am glad that I can continue to live here and do so), so I sometimes feel like I straddle both worlds.

[desibear]

Originally Posted by pdxmommy

I have been looking at housing online. We need at least a 3 bedroom. I am finding 3 bedrooms in Lincoln Park ~1700 sq ft, some brand new in the $500k range.

It would appear that Lincoln Park has not been able to escape the fate of the larger housing market. This past summer, anything new in the mainly east sections of Lincoln Park approaching1800 sq. ft (so slightly larger) with 3 beds, was over $600K. So, on a more contrarian note than my fellow posters, to me it appears that you are getting somewhat of a deal!

[Avengerfire]

Originally Posted by Lookout Kid

I'm assuming you're talking about condos in the case on Lincoln Park? Most free-standing houses of any kind are well over a million dollars in that neighborhood. But you can still find single-family homes in Irving Park for around $500,000. Why? Irving Park is a very mixed-income community and there are still some gangs around. It's much further from the Loop than Lincoln Park, and has less density. If you look at the statistics, Irving Park still has a huge percentage of Latino residents, and this does still scare off some buyers, regrettably.

Old Irving Park is 500k and up for sure. I doubt the rest of Irving Park is 500k and up. If it is, I would be very shocked. Maybe in pockets it is or near the border of Portage Park with the new construction ...