Humboldt Park Invest or not? (Naperville: employment, to live, price)

[marothisu]

Originally Posted by jonnynonos

There are definitely more transplants sticking in Lakeview and probably a lot of other places, but housing, schools and COL still prevent *most* would-be suburbanites from setting up shop permanently.

In those neighborhoods, yes. The price of SFHs are often too expensive. I have a coworker who said he would live in the city again if he could find a good priced SFH in a neighborhood that has everything he needs but his place in the suburbs is a much better deal. He did say that he plans to move back to Chicago after his kids graduate high school though.

[jonnynonos]

Originally Posted by marothisu

In those neighborhoods, yes. The price of SFHs are often too expensive. I have a coworker who said he would live in the city again if he could find a good priced SFH in a neighborhood that has everything he needs but his place in the suburbs is a much better deal. He did say that he plans to move back to Chicago after his kids graduate high school though.

I know several people in the same boat.

I do know a few middle class people who are raising their families in Andersonville and Lincoln Square, but in both cases they got their houses back in the 90s when the prices up there for SFH were more comparable to a suburb.

[BleedCubbieBlue]

Originally Posted by jonnynonos

I know several people in the same boat.

I do know a few middle class people who are raising their families in Andersonville and Lincoln Square, but in both cases they got their houses back in the 90s when the prices up there for SFH were more comparable to a suburb.

And this is exactly what a neighborhood like EHP and Avondale is currently offering. You can buy an existing SFH and either tear down or gut rehab. You'll end up with a beautiful SFH in the city close to everything that's hot and still have a nice community. And the price will be comparable to the burbs.

[Chi-town Native]

Originally Posted by BleedCubbieBlue

And this is exactly what a neighborhood like EHP and Avondale is currently offering. You can buy an existing SFH and either tear down or gut rehab. You'll end up with a beautiful SFH in the city close to everything that's hot and still have a nice community. And the price will be comparable to the burbs.

Yep. And if your employer is downtown it won't take you 90 minutes & a case of road rage to get to work.

I also just realized the fact we're talking about East Humboldt Park and not West Bucktown really says it all. It means Humboldt Park itself has turned a corner and is now seen as an asset. And rightly so - it's an incredible park.

edit - what modest priced multi-unit buildings in Avondale and Humboldt Park also offer is a long term strategy of renting out a unit for 5 - 10 years, and then converting the building to a single family once you have built up the equity and/or saved up funds for the rehab.

[rubbersoul89]

Originally Posted by Aleking

meh, i'm with Chet, there are only so many hipsters to go around.

my issue with this line of thinking is grouping everyone that moves into that area of the city as "hipsters".

hipster has pretty much just become a buzzword that means young, urban, and middle class and little else at this point.

i hear all sorts of people being called hipsters these days and those are the only unifying traits.

if a limited number of "hipsters" was going to be the thing to halt development, than i think gentrification would have slowed a long time ago.

the reality is that more middle class people want to live in the city than anytime else in recent history.

the (original notion of) hipsters might lead the way, but what follows are people who simply want to live in a safe enough area of the city that's also somewhat affordable.

[jonnynonos]

Originally Posted by rubbersoul89

my issue with this line of thinking is grouping everyone that moves into that area of the city as "hipsters".

hipster has pretty much just become a buzzword that means young, urban, and middle class and little else at this point.

i hear all sorts of people being called hipsters these days and those are the only unifying traits.

if a limited number of "hipsters" was going to be the thing to halt development, than i think gentrification would have slowed a long time ago.

the reality is that more middle class people want to live in the city than anytime else in recent history.

the (original notion of) hipsters might lead the way, but what follows are people who simply want to live in a safe enough area of the city that's also somewhat affordable.

The hipsters are important to the process, though, as they are the marginally employed people who venture further and further out looking for that $500 a month apartment.

[jonnynonos]

Originally Posted by Chi-town Native

Yep. And if your employer is downtown it won't take you 90 minutes & a case of road rage to get to work.

I also just realized the fact we're talking about East Humboldt Park and not West Bucktown really says it all. It means Humboldt Park itself has turned a corner and is now seen as an asset. And rightly so - it's an incredible park.

edit - what modest priced multi-unit buildings in Avondale and Humboldt Park also offer is a long term strategy of renting out a unit for 5 - 10 years, and then converting the building to a single family once you have built up the equity and/or saved up funds for the rehab.

It's potentially a good investment but I think EHP is still a ways away from Joe Family Man, who would otherwise be moving to Naperville.

Let's not go nuts.

I actually know three people who are home owners in EHP and can't get rid of the houses.

[marothisu]

Originally Posted by jonnynonos

The hipsters are important to the process, though, as they are the marginally employed people who venture further and further out looking for that $500 a month apartment.

They are important, but not necessarily the only ones who contribute to the process.

[nikitakolata]

Originally Posted by jonnynonos

It's potentially a good investment but I think EHP is still a ways away from Joe Family Man, who would otherwise be moving to Naperville.

Let's not go nuts.

I actually know three people who are home owners in EHP and can't get rid of the houses.

I agree with this. We couldn't seem to give away our house in EHP. Things there are improving, but it will be a long time before I personally would consider moving back there.

[Aleking]

I do feel bad for anyone who sold in EHP between 2007 and 2012, what a bad play