Humboldt Park Invest or not? (Chicago, Naperville: high school, to live in, prices)

[Vlajos]

Originally Posted by chet everett

jonnynonos hits the nail on the head -- is it conceivable that the limits of how many hip bars / restuarants / botiques can be supported by folks largely commuting to office type employers near the Loop has been reached?

When one looks at a thread about how difficult it is to get a seat on the Blue line or how many jam packed Red lines trains fruitlessly stop at a platform is this the canary in the coal mine that together with data from redfin Berywn, McKinley Park, Maywood, and Pleasant Hill complete five hottest areas in Chicago region beihnd Humbolt Park |Redfin.com suggests perhaps pricing is already too high in Humbolt Park...

Currently a Pink line connection (or even speedier BNSF Metra) to Berwyn might be the "hot ticket" to a surer bet for increasing home values and lack of hassles from unhappy gang bangers.

Maybe, but I doubt it.

[BleedCubbieBlue]

I don't believe this is the case. Historically people would move out to the suburbs as they got older and had children. But more and more people are starting to stay in the city even as they start families and grow older. You now have neighborhoods in the city that are still hip and cool but are more for families instead of young people. As more older people decide to stay in the city, they will surely price out the young student or early 30's buyer in the more developed areas. And areas like Bucktown and Wicker Park, which started as younger "hipster" neighborhoods will eventually become more and more family friendly. This is what is causing the neighborhoods around the hot areas to continue to develop and gentrify. Right now Logan Square is the Hot spot, therefore, neighborhoods around it are going to start seeing the younger people who still want to to be close but cant afford the newly higher priced developments in LS. Will gentrification just continue growing until all of the city is the same? Obviously not. But i think the old patter of moving out to the suburbs to raise a family is crumbling, therefore the city is bound to continue growing and neighborhoods in close proximity to the hot spots will continue to change and develop.

[Vlajos]

Originally Posted by BleedCubbieBlue

I don't believe this is the case. Historically people would move out to the suburbs as they got older and had children. But more and more people are starting to stay in the city even as they start families and grow older. You now have neighborhoods in the city that are still hip and cool but are more for families instead of young people. As more older people decide to stay in the city, they will surely price out the young student or early 30's buyer in the more developed areas. And areas like Bucktown and Wicker Park, which started as younger "hipster" neighborhoods will eventually become more and more family friendly. This is what is causing the neighborhoods around the hot areas to continue to develop and gentrify. Right now Logan Square is the Hot spot, therefore, neighborhoods around it are going to start seeing the younger people who still want to to be close but cant afford the newly higher priced developments in LS. Will gentrification just continue growing until all of the city is the same? Obviously not. But i think the old patter of moving out to the suburbs to raise a family is crumbling, therefore the city is bound to continue growing and neighborhoods in close proximity to the hot spots will continue to change and develop.

Exactly.

[Aleking]

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

[chet everett]

High schools remain a serious issue. Even with the annex to be added to Payton Prep the school will not even be able to house even 1500 students, last year about 6200 kids applied for 220 freshmen slots...

[Vlajos]

Originally Posted by chet everett

High schools remain a serious issue. Even with the annex to be added to Payton Prep the school will not even be able to house even 1500 students, last year about 6200 kids applied for 220 freshmen slots...

there are other options

[Attrill]

Originally Posted by BleedCubbieBlue

And areas like Bucktown and Wicker Park, which started as younger "hipster" neighborhoods will eventually become more and more family friendly. This is what is causing the neighborhoods around the hot areas to continue to develop and gentrify. Right now Logan Square is the Hot spot, therefore, neighborhoods around it are going to start seeing the younger people who still want to to be close but cant afford the newly higher priced developments in LS... i think the old patter of moving out to the suburbs to raise a family is crumbling, therefore the city is bound to continue growing and neighborhoods in close proximity to the hot spots will continue to change and develop.

You can definitely see drastic changes already in how family friendly Bucktown/Wicker Park has become. The changes in public schools like Pritzker, Pulaski, Drummond and Burr over the last 15 years is immense. The same thing is currently happening to some schools in Logan Square - Goethe and Brentano are good examples.

Originally Posted by chet everett

jonnynonos hits the nail on the head -- is it conceivable that the limits of how many hip bars / restaurants / boutiques can be supported by folks largely commuting to office type employers near the Loop has been reached?

In the late 90's I had a hard time believing that Division could support two Sushi bars, and look at it now (and both sushi places are still open and doing well). Even now I wonder if the strip of Milwaukee between California and Fullerton can support the 7 or 8 new places opening, but so far every place is still packed. This weekend the two new places (Radler and Chicago Distillery) were very crowded, and Cole's and Revolution were packed to the gills. I think there's still a lot pent up demand.

[Vlajos]

Originally Posted by Attrill

You can definitely see drastic changes already in how family friendly Bucktown/Wicker Park has become. The changes in public schools like Pritzker, Pulaski, Drummond and Burr over the last 15 years is immense. The same thing is currently happening to some schools in Logan Square - Goethe and Brentano are good examples.



In the late 90's I had a hard time believing that Division could support two Sushi bars, and look at it now (and both sushi places are still open and doing well). Even now I wonder if the strip of Milwaukee between California and Fullerton can support the 7 or 8 new places opening, but so far every place is still packed. This weekend the two new places (Radler and Chicago Distillery) were very crowded, and Cole's and Revolution were packed to the gills. I think there's still a lot pent up demand.

Exactly, all signs point to further gentrification. Of course, only time will tell.

[Chi-town Native]

Originally Posted by BleedCubbieBlue

I don't believe this is the case. Historically people would move out to the suburbs as they got older and had children. But more and more people are starting to stay in the city even as they start families and grow older.

That isn't exactly true if you're going to say "historically".

We're seeing all of these CPS closings precisely because there are now less kids in the City (less people altogether, of course).

For example, I grew up approx. a mile from Wrigley and there were WAY more kids in the neighborhood than there are now.

There were also more living wage manufacturing jobs though, much of Lake View was essentially a factory town until the mid- and late-80s.

[jonnynonos]

Originally Posted by BleedCubbieBlue

I don't believe this is the case. Historically people would move out to the suburbs as they got older and had children. But more and more people are starting to stay in the city even as they start families and grow older. You now have neighborhoods in the city that are still hip and cool but are more for families instead of young people. As more older people decide to stay in the city, they will surely price out the young student or early 30's buyer in the more developed areas. And areas like Bucktown and Wicker Park, which started as younger "hipster" neighborhoods will eventually become more and more family friendly. This is what is causing the neighborhoods around the hot areas to continue to develop and gentrify. Right now Logan Square is the Hot spot, therefore, neighborhoods around it are going to start seeing the younger people who still want to to be close but cant afford the newly higher priced developments in LS. Will gentrification just continue growing until all of the city is the same? Obviously not. But i think the old patter of moving out to the suburbs to raise a family is crumbling, therefore the city is bound to continue growing and neighborhoods in close proximity to the hot spots will continue to change and develop.

The interesting thing to me, though, is that there still continues to be virtually zero room for the middle class. Wicker Park and Bucktown are, indeed, family friendly--if it's a family of millionaires.

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.