if you were buying in the city... (Chicago, Addison: real estate, condos) - City-Data Forum

jessiegirl_98 · 06-01-2008, 06:45 PM

Right now, on a budget (so don't say Lakeview or LP), and you wanted to be near an el station and a relatively safe area.....

where would you buy and why?

Avengerfire · 06-01-2008, 06:47 PM

I wont get into why right now, but I would say Irving Park or Jefferson Park. Even the eastern part of Albany Park.

jessiegirl_98 · 06-01-2008, 06:52 PM

Quote:

Originally Posted by Avengerfire

I wont get into why right now, but I would say Irving Park or Jefferson Park.

OK. I'm not as familiar with those areas. Are there certain boundaries you would be the most interested in?

Avengerfire · 06-01-2008, 07:00 PM

Quote:

Originally Posted by jessiegirl_98

OK. I'm not as familiar with those areas. Are there certain boundaries you would be the most interested in?

Well the parts of Jeff Park I prefer, are the areas north of Foster. You will have to take a bus or not mind walking a half mile or more to the train station.

Albany Park I would stay east of Kimball between Lawrence and Montrose.

Irving Park I would say between Irving Park,Addison,Elston,and Pulaski.

I am not saying the other parts of those communities or neighborhoods are bad. I am just saying thats where I would live if I had a choice.

Lookout Kid · 06-01-2008, 09:57 PM

House or condo?

For a condo I'd say southern Buena Park close to Lakeview, but it seems like the market is a bit saturated right now and still needs to shake itself out a bit (the same can be said for condos on the entire northern lakefront). If you're looking for a house, try the northwestern swath of the bungalow belt. In addition to the bugalow belt hoods listed by Avengerfire (Jeff Park, parts of Irving Park), I'd add eastern Portage Park to that list.

940 · 06-01-2008, 10:56 PM

I got to Chicago today after driving from the DFW area the last couple of days and taking my time...I officially close tomorrow (Monday) on the condo that I bought and I'm thrilled. It's been about 15 years but I'm glad to be back in Chicago and back in the Lakeview area.

I know you're excited to get back here too, Jessiegirl_98!!

Drover · 06-02-2008, 02:04 AM

Quote:

Originally Posted by jessiegirl_98

Right now, on a budget (so don't say Lakeview or LP), and you wanted to be near an el station and a relatively safe area.....

where would you buy and why?

Avenger has my top three covered. As for why: best combination of access to the L station, plus access to decent nightlife, relative safety and low real estate prices.

There was a 2-bed, 2-bath condo across the street from me that sold for just over 200 grand that would easily have sold for twice that in Lakeview.

Lookout Kid · 06-02-2008, 08:33 AM

I have a friend who has had his east Albany Park condo listed for six months and hasn't had a single offer. It's a soft market for all condos, but outside of marque neighborhoods the market is even worse. So, if you're looking for a condo instead of a house, I'd strongly recommend staying in a high-demand area. It's scary to buy in a saturated condo market, but most of my friends who can't afford a premier northside neighborhood are looking to Edgewater. Buena Park is a little more expensive than Edgewater because of proximity to Lakeview and shorter commutes, the rest of Uptown is probably less expensive than Edgewater because of crime and sketchiness. I don't think I'd buy in Rogers Park right now. There are too many new conversions still happening in large numbers, and the demand isn't there. So many condo buildings are filling up with renters, and you definitely don't want that in a buidling you own!

Dont' buy a condo in a neighborhood that is primarily single-family houses. Why? Well if you can buy a three-bedroom condo for $300K and a house for $360K, most poeple will choose to stretch for the house.

chet everett · 06-02-2008, 10:43 AM

Smart advice from Lookout Kid -- I think there are going to be some pressures coming due to demographics too.

Folks that might be older are never real happy about hoofing their way down rickety stairs like many of the El stops have, if people look at a nice Gold Coast/east side/near south Loop place and do the math on the trade-offs those are better deals than almost anywhere else, unless they decide to head out to places that have less hostile winters.

jessiegirl_98 · 06-02-2008, 01:06 PM

I am definitly looking for a condo. Price range in the 200's if that helps (2 bed). We've looked at several and have a few that we are interested in in Buena Park, but we definitly want to expand our options. I'm not opposed to being father away from the "middle of everything," as long as it's easy transportation. We actually found a few in Lakeview for the low 200's, but as you can guess, they were all really odd.... 2 beds, but no living room kind of thing.

Thanks for your advice.

Quote:

Originally Posted by Drover

Avenger has my top three covered. As for why: best combination of access to the L station, plus access to decent nightlife, relative safety and low real estate prices.

There was a 2-bed, 2-bath condo across the street from me that sold for just over 200 grand that would easily have sold for twice that in Lakeview.

Oooo, Drover, if you see any of those again, send them my way