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Old 02-13-2009, 08:25 AM
 
1,464 posts, read 5,507,729 times
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Great pics. Anyone with some money laying around that they don't know what to do with should really consider buying up some of these properties and then rehabbing the homes as this area is basically a gold mine just in the rough, especially with the potential of the Olympic stuff being built there and all the money Daley is going to pour into the area to clean it back up.

I realize that to make a decent profit, it would take plenty of work and effort not only on the part of remodeling the homes, but also with the city and neighbors in cleaning the neighborhoods back up to what this area was like back in lets say the 1940s and 50s. Cleaning the area up would be a huge benefit to the entire city of Chicago and in the long run to those that invest into the area as this is prime real estate with it being so close to the Loop. Litterally millions could be made here if the rehabbers approach this area realizing it will take 100% proper management on the part of everyone.

Its really a shame many of these mansions which are truely relics are in less than desireable areas that many wouldn't even consider driving into, so most people don't even know they exist as someone earlier posted.
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Old 02-13-2009, 09:02 AM
 
220 posts, read 744,356 times
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Despite the potential Olympics in the neighborhood - I see little long term increase in value for this specific portion of the near Southside. Yes, the mansions and many of the remaining "middle class" housing in the area from the end of the 19th and beginning of the 20th centuries is very nice, the commercial districts in this section of the City are practically desolate/barren (ie miles and miles of vacant lots) and/or very very thin on the ground.

Therefore, unlike say Lincoln Park in the 1970s robust regeneration/revitalization will would likely be one-sided for a long time - ie housing would constitute a majority of the development and the commercial construction would come much later since the risk is generally higher and such development would follow after a critical mass of new/rehabbed housing was created for the middle income+.

Essentially, the "value" of many of these mansions are significantly hampered because they are basically in an auto-oriented location for daily services (ie you have to drive at least 2 miles to get to any significant shopping districts with the kind of stores the typical middle to upper income household requires/demands).
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Old 02-13-2009, 09:39 AM
 
Location: Chicago
15,586 posts, read 27,597,919 times
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Default A few pics from the Southside other than mansions

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This one is not on Michigan Ave. It is on Wabash...
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Last edited by Avengerfire; 02-13-2009 at 09:48 AM..
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Old 02-13-2009, 10:11 AM
 
Location: Houston Texas
1,003 posts, read 2,428,820 times
Reputation: 250
I didnt know Mansions could be so small
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Old 02-13-2009, 10:27 AM
 
Location: Oak Park, IL
5,525 posts, read 13,944,069 times
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Quote:
Originally Posted by MyssaTx View Post
I didnt know Mansions could be so small
The typical Chicago lot is narrow but very deep. Those three story houses (+ basement) are probably 4000+ sq feet which is pretty big for a 100 year old house.
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Old 02-13-2009, 10:47 AM
 
1,570 posts, read 2,068,217 times
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Quote:
Originally Posted by Avengerfire View Post
Here are my pics from South Michigan Ave. between 35th and 47th or so...

If you have any to add from the area please do so!

This mean you 60-minutes-II if you took pics on the Southside!

Enjoy!
I haven't even gone yet. But now I will keep my word and by next saturday there will be pics of mansions on the northside.
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Old 02-13-2009, 10:48 AM
 
968 posts, read 2,664,621 times
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Quote:
Originally Posted by NYrules View Post
Great pics. Anyone with some money laying around that they don't know what to do with should really consider buying up some of these properties and then rehabbing the homes as this area is basically a gold mine just in the rough, especially with the potential of the Olympic stuff being built there and all the money Daley is going to pour into the area to clean it back up.

I realize that to make a decent profit, it would take plenty of work and effort not only on the part of remodeling the homes, but also with the city and neighbors in cleaning the neighborhoods back up to what this area was like back in lets say the 1940s and 50s. Cleaning the area up would be a huge benefit to the entire city of Chicago and in the long run to those that invest into the area as this is prime real estate with it being so close to the Loop. Litterally millions could be made here if the rehabbers approach this area realizing it will take 100% proper management on the part of everyone.

Its really a shame many of these mansions which are truely relics are in less than desireable areas that many wouldn't even consider driving into, so most people don't even know they exist as someone earlier posted.
It's proof that 'they don't build them like they used to ' ..some of those are 110 -120 years old.. The Eastern part of the South Side from where Avengerfire took his pics ( Michigan), Prairie Avenue, South Park ( now MLK), Drexel Boulevard and over to Kenwood was once the most opulent area of the city .. In some places, you'd be restoring to the condition of the 1920s rather than the 40s and 50s , and many have already been subdivided from singe family estates to 'rooming houses and the like.. Can't help but wonder how much of the interior treasures remain, and how much is gone forever ( or part of a more modern suburban house someplace) ..
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Old 02-13-2009, 11:02 AM
 
Location: Chicago
15,586 posts, read 27,597,919 times
Reputation: 1761
Quote:
Originally Posted by 60-minutes-II View Post
I haven't even gone yet. But now I will keep my word and by next saturday there will be pics of mansions on the northside.
If you go to the Southside avoid posting your pics of the mansions on South Michigan Ave between 35th and 47th or so. I got most of them on here.

When you post the pics from the Northside make a new thread! I will add my Northside pics in that one. Or if you want, I will make the thread and you can add your pics to it.
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Old 02-13-2009, 11:16 AM
 
Location: Houston Texas
1,003 posts, read 2,428,820 times
Reputation: 250
Yeah I cant pretend to know anything about 100 yr old mansions.
4000sq ft isnt small but it isnt really very big either. But I live Texas and 4000sq foot home doesnt come close to being considered a mansion. Its almost kind of average for a home - well thats not really true- 3000sq ft is more average but none the less these are some fantastic photos. You learn something every day!
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Old 02-13-2009, 11:19 AM
 
3,674 posts, read 8,658,751 times
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In general the homes are very well kept-- and that surprises me, given how other neighborhoods have fared.

I've always wanted to buy property there, but there's not really enough going on in that area. That, and the fact that you'd have to deal with EVILEVILEVI YUPPIES HOW DARE YOU MOVE HERE YOU'RE EVIL, et cetera.
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