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Old 07-31-2017, 08:48 AM
 
1,422 posts, read 682,166 times
Reputation: 1895

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Quote:
Originally Posted by kidphilly View Post
has to be city proper
Of course. Chicago has much wealth in the suburbs.
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Old 07-31-2017, 08:55 AM
 
3,063 posts, read 1,001,369 times
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I know that Chicago and NYC is more desirable than Philadelphia but not sure about San Francisco.
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Old 07-31-2017, 08:57 AM
 
1,422 posts, read 682,166 times
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Quote:
Originally Posted by moneymkt View Post
I know that Chicago and NYC is more desirable than Philadelphia but not sure about San Francisco.

No one knows, really...it's personal preference.
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Old 07-31-2017, 09:07 AM
 
1,324 posts, read 678,887 times
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Quote:
Originally Posted by Enean View Post
Of course. Chicago has much wealth in the suburbs.
Every city has wealthy suburbs
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Old 07-31-2017, 09:10 AM
 
1,422 posts, read 682,166 times
Reputation: 1895
Quote:
Originally Posted by The_General View Post
Every city has wealthy suburbs
Didn't say they didn't. I think the numbers were posted, to try to benefit some cities. Just stating that some cities have more wealth in suburbs than others.
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Old 07-31-2017, 09:18 AM
 
7,179 posts, read 3,881,160 times
Reputation: 7537
Quote:
Originally Posted by NOLA101 View Post
There is really no nice neighborhood in Chicago where a decent-sized 2 bedroom costs less than 300k.

So, no. This is totally off. A good 2 bedroom in the Green Zone costs closer to 500k. Chicago is quite expensive.
Not only can you find them, you can find the with low maintenance fees. Every one of these costs under 300k and has a maintenance under $500. Most of the maintenance fees are are under $300. Some of these cost less than $250k.

Lincoln Park 950 sq feet:
https://www.redfin.com/IL/Chicago/24.../home/13360049

Bucktown 1000 sq feet:
https://www.redfin.com/IL/Chicago/23.../home/12561562


Lakeview 1200 sq feet:
https://www.redfin.com/IL/Chicago/43.../home/12773175

Logan Square 1450 sq feet:
https://www.redfin.com/IL/Chicago/27.../home/26806282

River West 1000 sq feet:
https://www.redfin.com/IL/Chicago/70.../home/40377127

South Loop 1075 sq feet:
https://www.redfin.com/IL/Chicago/15...home/142992580

Andersonville 1700 sq feet:
https://www.redfin.com/IL/Chicago/56.../home/12719580

West Town 1000 sq feet:
https://www.redfin.com/IL/Chicago/70.../home/40377127

Hyde Park 850 sq feet:

https://www.redfin.com/IL/Chicago/54.../home/12598681
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Old 07-31-2017, 09:35 AM
 
Location: In the heights
20,167 posts, read 21,767,856 times
Reputation: 10249
Quote:
Originally Posted by NOLA101 View Post
But that's exactly my claim, and completely contradicts your argument.

You claim it's because of geography, not location. I have always been clear that location specifics matter. Things like economy, scenery and the like. Not whether or not there's a lake or hills.

Totally wrong. Chicago has roughly the same home prices as Minneapolis, the second largest Midwest economy. Minneapolis, BTW, has no water barriers like Chicago, so using your theory, should be dirt cheap.

Manhattan has zero to do with anything. 24 million people in NYC metro, only 1.7 million in Manhattan.

And my neighborhood, just outside Manhattan, and with tons of room to sprawl, has same or higher prices as adjacent areas of Manhattan, so explain that.

No, NYC is on a harbor. NYC is absolutely not on the Atlantic. There is no open ocean anywhere near Manhattan. Have you ever been to NYC? You cannot surf in Brooklyn or something.

LOL! This is dirt cheap for oceanfront real estate along the Northeast Corridor. This supports my argument.

500k for oceanfront homes? You pay that for a nice suburban home in Kansas. You can't get a shoebox in Brooklyn for 500k.

Try like $150 million in the Hamptons. Minimum $10 million for something decent. And MUCH further from Manhattan than the Jersey Shore is from Center City.
Geography and location are part and parcel of each other. There is a cause and effect that geography plays for desirability--it's not the only factor, but it's certainly there. Land constraints do play a factor, though any side that wholly discounts or makes it the sole factor are wrong and it's unlikely anyonr here is arguing for either extreme. The waterfront and hills have an effect on land constraint and development in both the direct physical reason of concentrating development and then the secondary effects of potentially offer attractive scenery as well as having the concentrated development lending itself to greater population, retail, and job density (which affects walkability and vibrancy).

Chicago's average home prices throughout the city might be close to Minneapolis's, but since Chicago is a far larger and denser city and metro that is also more desirable to more people, Chicago also has a much larger expanse of far more expensive homes both by absolute numbers and by per square foot.

Manhattan serves as a residence for 1.7 million people, but is also a massive employment center for far more than the residential population and then is further buoyed by the large tourist population. The idea that Manhattan has zero to do with anything is ridiculous.

NYC is on an inlet of the Atlantic, but I understabd your point that Manhattan is not on the open ocean (though NYC itself is, and you can go surfing in NYC).
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Old 07-31-2017, 09:36 AM
 
Location: Boston Metrowest (via the Philly area)
4,272 posts, read 7,196,776 times
Reputation: 3965
Metro-level 100K+ Earners (2015 American Community Survey) - Top 30

San Jose-Sunnyvale-Santa Clara, CA Metro Area 35.7%
San Francisco-Oakland-Hayward, CA Metro Area 30%
Bridgeport-Stamford-Norwalk, CT Metro Area 29.4%
Washington-Arlington-Alexandria, DC-VA-MD-WV Metro Area 27.3%
Boulder, CO Metro Area 25.5%
Boston-Cambridge-Newton, MA-NH Metro Area 23.4%
California-Lexington Park, MD Metro Area 22.6%
Trenton, NJ Metro Area 22.5%
Seattle-Tacoma-Bellevue, WA Metro Area 22%
New York-Newark-Jersey City, NY-NJ-PA Metro Area 21.1%
Napa, CA Metro Area 20.5%
Oxnard-Thousand Oaks-Ventura, CA Metro Area 20%
Santa Cruz-Watsonville, CA Metro Area 19.8%
Hartford-West Hartford-East Hartford, CT Metro Area 19.2%
Ann Arbor, MI Metro Area 18.8%
Baltimore-Columbia-Towson, MD Metro Area 18.6%
Midland, TX Metro Area 18.6%
Manchester-Nashua, NH Metro Area 17.7%
Worcester, MA-CT Metro Area 17.4%
Houston-The Woodlands-Sugar Land, TX Metro Area 17.3%
Midland, MI Metro Area 17.3%
Chicago-Naperville-Elgin, IL-IN-WI Metro Area 17.2%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD Metro Area 17.2%
Truckee-Grass Valley, CA Micro Area 17.2%
Huntsville, AL Metro Area 16.9%
Bloomington, IL Metro Area 16.8%
Denver-Aurora-Lakewood, CO Metro Area 16.8%
Raleigh, NC Metro Area 16.7%
Sacramento--Roseville--Arden-Arcade, CA Metro Area 16.7%

Interesting how Houston, Chicago and Philadelphia are essentially identical.

Last edited by Duderino; 07-31-2017 at 09:46 AM..
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Old 07-31-2017, 09:41 AM
 
9,701 posts, read 6,683,467 times
Reputation: 9776
Quote:
Originally Posted by gladhands View Post
Not only can you find them, you can find the with low maintenance fees. Every one of these costs under 300k and has a maintenance under $500. Most of the maintenance fees are are under $300. Some of these cost less than $250k.

Lincoln Park 950 sq feet:
https://www.redfin.com/IL/Chicago/24.../home/13360049

Bucktown 1000 sq feet:
https://www.redfin.com/IL/Chicago/23.../home/12561562


Lakeview 1200 sq feet:
https://www.redfin.com/IL/Chicago/43.../home/12773175

Logan Square 1450 sq feet:
https://www.redfin.com/IL/Chicago/27.../home/26806282

River West 1000 sq feet:
https://www.redfin.com/IL/Chicago/70.../home/40377127

South Loop 1075 sq feet:
https://www.redfin.com/IL/Chicago/15...home/142992580

Andersonville 1700 sq feet:
https://www.redfin.com/IL/Chicago/56.../home/12719580

West Town 1000 sq feet:
https://www.redfin.com/IL/Chicago/70.../home/40377127

Hyde Park 850 sq feet:

https://www.redfin.com/IL/Chicago/54.../home/12598681
You always like to play this game, but no. Just because you find something doesn't mean it's the norm. I'm talking normal prices, not garbage listings, foreclosures, weird properties and the like.

Not going through all these, but the first one is absurd. It's small, dumpy, only one bathroom, walkup, silly monthlies and not a great location.

Typical price for a 2 bed in Lincoln Park will be at least 400k, but probably closer to 500k.
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Old 07-31-2017, 09:52 AM
 
7,179 posts, read 3,881,160 times
Reputation: 7537
Quote:
Originally Posted by NOLA101 View Post
You always like to play this game, but no. Just because you find something doesn't mean it's the norm. I'm talking normal prices, not garbage listings, foreclosures, weird properties and the like.

Not going through all these, but the first one is absurd. It's small, dumpy, only one bathroom, walkup, silly monthlies and not a great location.

Typical price for a 2 bed in Lincoln Park will be at least 400k, but probably closer to 500k.
There are more in each of these neighborhoods.

Yes, it's a walk-up. One flight up. Silly monthlies? Not a great location? The $247 monthly maintenance includes water and insurance. It's in Lincoln Park, arguably the most desirable neighborhood in the city. It's has a walkscore of 93, is two blocks from a park, 3 blocks from Whole Foods and 3.5 blocks from the L. Its schools are rated 8 and 9 on Greatschools. Not a great location.


And, yes, you can easily spend more for a 2br in Lincoln Park. The point remains that at any given time there are several 2br apartments going for less than 300k.

https://www.redfin.com/IL/Chicago/27.../home/18918297

https://www.redfin.com/IL/Chicago/11.../home/13361256

https://www.redfin.com/IL/Chicago/90...home/114111248

https://www.redfin.com/IL/Chicago/25.../home/13361627

Last edited by gladhands; 07-31-2017 at 10:00 AM..
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