Any info on the Austin neighborhood? (Chicago, Bloomingdale: low income, real estate, lofts)

[msalicialuv]

Im not far either-
As a white woman, visiting the Austin area is always interesting . I have a friend that grew up over there and her relatives still live there.....I live at Harlem / fullerton area-
consider moving just a bit- west, north, anywhere else really ......unless your doing the Lords work

[chinolofus]

im a white guy and i live in austin. im on the edge though. i live near north/cicero. i love my block. great neighbors and i never see action on my block. venture a bit south or west and it gets a little shady but not terrible. theres a few places for sale in my area for less than 200k..a great deal in my eyes.

[SamA]

I live in Galewood and think it's a very safe neighborhood that's still affordable. The housing stock is varied and beautiful with a suburban feel. It's your best bet for "suburban" living in the city.

[Humboldt1]

Which area gentrifies first, austin or englewood? I am betting 15-20 years for austin and never for englewood. Any thoughts?

[Drover]

Austin certainly has a better chance by virtue of its proximity to Oak Park, its public transportation options and its housing stock (bigger homes, more "stylish" architecture and wider lots than Englewood). There already appears to be signs of gentrification on its very edge, but who knows if it will ever permeate all or even most of the neighborhood. It has a lot of issues to overcome, and I wouldn't be surprised if it hasn't overcome them even 15 to 20 years from now.

[aragx6]

I could see that happening depending on two things:

1. When and if we have the next crazy housing boom
2. If they don't come up with a viable, inexpensive alternative to gasoline powered engines before gas hits 6 bucks a gallon.

[BRU67]

Originally Posted by Humboldt1

Which area gentrifies first, austin or englewood? I am betting 15-20 years for austin and never for englewood. Any thoughts?

So unpredictable. Austin could gentrify if:

1. Disadvantaged minorities begin moving the ex-burbs. Hasn't happened but no reason why it can't. It is probably cheaper, even now, to buy a house in Lockport than in Austin. The I-355 extension gives easy access to all humans, and families with troubled kids will like the gang-free schools (God knows they're more than willing to lie and cheat to get them into inner-ring suburban schools). Don't want to start a debate on this (we've beaten it to death in a million threads) but it seems pretty clear that ex-burbs largely exist because people want to escape certain "problems."

Wild Card: Lack of rental housing in the ex-burbs. Typical Chicago neighborhoods and inner-ring 'burbs are usually 60/40 owner/renter, sometimes higher. Ex-burbs tend to be more like 85/15. Disadvantaged minorities tend to be renters. Usually, neighborhood decline starts with bad renters, and works its way up from there, like rust.

2. Fuel prices. What the threshold is, who knows, but $5/gallon gasoline would probably make folks think 2-3 times before moving to Yorkville, and would logically seem to make lands closer to the City more valuable.

Wild Card: Telecommuting and possible alternative fuels. Nowadays, you could live in Bum F.., Alaska and still work many jobs via computer and telephone. And once we recover from the hangover from the SUV craze, we may start seeing cars that are highly efficient and/or which don't use fuel at all. Plus, our policy makers, right or wrong, seem to be very focused on new highways and proposed public transit routes designed to make ex-burbs even more convenient.

3. Crazy housing boom. Coupled with 1-2 above would probably lead to speculation and development of places like Austin, Cicero, Garfield Park, etc.

Wild Card: It's hard to imagine something as insane as what occurred between 1998-2005, I'm sorry. I don't think that's ever going to happen again, at least during the lifetime of most people on this Board.

Englewood? That would require City intervention. Basically a private neighborhood version of what occurred with Cabrini Green. I discussed this in the Cal City thread. Some thought the idea was absurd but I don't know. I'm not convinced that it's absurd at all. But, again, there's so many factors flying around out there, there's really no way you can predict one way or other what's going to happen.

[Humboldt1]

Great responses to my original query. I have been reading this forum for 2 years but never posted until now. I am an urban pioneer with my second apartment building in the city in which I live also. I am at Springfield and North in Humboldt Park. Hopefully, with Menards coming in and all the developments associated with that it should help improve the neighborhood and at the very least give me somewhere to eat other than McDonald's, though CJ's is very good (3800 W Grand).

I have to drive thru Austin virtually everyday on my way to work in the burbs and don't see much hope for the neighborhood. I know little about Englewood other than to stay away based upon shootings we all see on the news.

Austin is an interesting neighborhood and I think it will change, but as you have said it will take time. Basically, we need to flush out the crap between Western and Austin, which includes parts of WestTown (west bucktown doesn't exist), Humboldt Park, and Austin. How long before Humboldt Park gentrifies? It is better than 5 years ago, but south of division is pretty rough, especially as you go west.

[Drover]

Humboldt Park -- and the True Humboldt Park, not just "anything west of Western" -- may never gentrify. It's missing one of the key ingredients that almost every erstwhile gentrified or gentfrifying neighborhood in the city have: quick access to an L line. That coverage gap just may be the factor that keeps most of Humboldt right where it is today.

Also, we can't lose sight of the fact that there simply isn't enough capital to gentrify every corner of the city or even every "promising" portion of it. The working-class need some place to live too.

[Humboldt1]

Drover I respect you and your opinions. You and some others have provided valuable insights in your posts.

However, I believe there are areas that have gentrified without access to L lines. WestTown, Chicago and Damen with the new Dominick's is certainly gentrifying. Access to an L is great but not necessary for gentrification to occur in my opinion. I bought too far west in July 06 right at the top of the market and have lived in a 4-unit building in which I rent out the other 3 (bigger) units. I have learned alot in the past 2 years about the city, having come from a townhouse in Itasca (which I still own and rent out). I am looking to buy an additional 2-4 unit apartment building in the next year and am definitely looking at sites along the Milwaukee corridor, with its L line.

I almost bought a property that sold in November 2005 for $550M and recently sold for $390M in Jan 08 located near Fullerton and California. I am looking at Feb/Mar 09 to purchase at what I believe will be close to bottom of the market. Gentrification is definitely taking place east of Humboldt Park (the park) near Norweigian American Hospital. All one has to do is go to California Clipper or the Continental (a number of the bohemian regulars do live in the neighborhood).

Drover, I am looking to buy next to an L line as I believe it will aid the gentrification of that area but I do not think you have to have an L line to gentrify as is happening between Damen and California south of Division and north of Grand in West Town.