How much would this house sell for in Chicago? (Forrest: crime, houses)

[ajolotl]

Originally Posted by eevee

true, but would it be worth it to invest in the area now? I mean, eventually, the area has got to turn around and become a solid investment, right?

I would agree if you didn't have to pay upkeep and property taxes. If it were a stock I would buy it. A house .. no. I just buy houses to live in.

[oakparkdude]

Originally Posted by ajolotl

I would agree if you didn't have to pay upkeep and property taxes. If it were a stock I would buy it. A house .. no. I just buy houses to live in.

I don't know. I could think of a lot more solid real estate investments that Detroit right now. Just because things are bad doesn't mean it can't get worse. As a rule of thumb, things can always get worse.

[long101]

I heard of places in Detroit selling for $100 from the government, you just have to promise to fix them up and keep them up. 2 years ago or so I went up to the Detroit area to visit a friend a couple of times and the area seemed pretty nice. Granted it was a suburb prolly 15 or 20 minutes outside Detroit. If I forget about the potholes that I almost got lost in it was decent.

[cobolt]

Doesn't help to buy a nice, big house at rock bottom prices in Detroit if you can't find work. There are REASONS why prices are low, you know.

[via chicago]

I dont think University Village it too bad. Areas like Boston Edison (where you see many of these rock bottom prices on sprawling estates) are of course beautiful, but the low prices are unfortunately warranted. Yes, you can live in a giant, historic home, but there are a number of issues with the homes and the area.

-Many of the homes are in terrible shape. The super-cheap homes have been abused by neglectful owners, and need tons of work. They are super-expensive to heat, and everything needs to be replaced.

-Scrappers have ravaged the neighborhood. If you plan on a gut-renovation, you will need 24/7 on-site security, or it will be stripped in a second.

-There are lots of vacant lots, abandoned buildings and blight. Even the best blocks are not without at least a few troubled properties.

-Foreclosures have ravaged the neighborhood. They are everywhere. In Detroit, a foreclosed home is likely to quickly be stripped.

-The surrounding neighborhood is terrible. It's one of the worst in Detroit. High crime, ridiculous poverty and massive abandonment.

-There are no shops, restaurants or services in the surrounding neighborhood. Pretty much nothing at all.

-Taxes are sky high ,and remember, you get no services. You cannot count on the schools, police, or emergency response.

-Good luck finding a job

[via chicago]

Originally Posted by sukwoo

I don't know. I could think of a lot more solid real estate investments that Detroit right now. Just because things are bad doesn't mean it can't get worse. As a rule of thumb, things can always get worse.

Unfortunately thats true. The challenges Detroit faces are truly staggering (far worse than NOLA), and as much as Im rooting for them, I dont really see significant change coming withing this generation.

[prelude91]

A friend of mine just bought a house similar to the one in the link in Andersonville for $689K

[Lookout Kid]

Unfortunately, the biggest changes I see coming to Detroit in the next ten years will be provided by bulldozers. There are some plans on the table to abandon some portions of the city while encouraging denser development in others.... sort of a retraction. It does seem necessary at this stage of things.

[Humboldt1]

Too Funny. Great House in a Sh#tty location.

Apparently, this was the former home of Charles Feinberg, who was President of Speedway Corporation.


7 Bed, 2.5 Bath | 3,487 Sq Ft |








No Additional Photos


Property Information for 2215 W BOSTON BLVD Save Listing
CURRENTLY SQUATTER OCCUPIED. ALL INFO IS APPROX AND TO BE VERIFIED BY BUYERS AGENT. COMPLIANCE AND DOC FEE APPLY TO ALL BUYER. BUYER TO PAY FOR CITY INSPECTION IF REQUIRED. BUYER TO SIGN REO HOLD HARMLESS ADDENDUM.


Property Features

• Single Family Property
• Status: Active
• Area: 05043
• County: Wayne
• Year Built: 1922
• 7 total bedroom(s)
• 2.5 total bath(s)
• 2 total full bath(s)
• 2 total half bath(s)

• Approximately 3487 sq. ft.
• Two story
• Style: Colonial
• Master bedroom
• Living room
• Dining room
• Kitchen
• Basement
• Master bedroom is 16x14

• Living room is 23x14
• Dining room is 16x14
• Kitchen is 13x10
• 1 car garage
• Heating features: Forced air,
• Exterior construction: Brick
• Approximate lot is 50X174
• School District: DETROIT

Interior Features
Basement, Unfinished basement, 2nd bedroom dimensions: 14x10, 3rd bedroom dimensions: 13x13, 4th bedroom dimensions: 16x15

Exterior Features
Detached garage, Municipal water, Sewer - sanitary

[via chicago]

Originally Posted by Humboldt1

Too Funny. Great House in a Sh#tty location.

Detroit was once among the richest cities in the country, and had the highest rate of homeownership. Its actually really sad when you look at what has happened there,