Buying condo in suburbs - (Chicago, Arlington Heights: fit in, real estate, foreclosed)

[arzhan]

After 3 years of living at Lakeshore drive, we finally decided to buy a condo (150-170K) in suburbs. We work in downtown and would have to take the METRA. We're contemplating on the following deciding factors

>Preferred Areas: Schaumburg, Hoffman Estates, Arlington Heights, Prospect Heights, Palatine.
Q: Is there any site where I can find how safe the neighbourhood is and any information on the schools nearby?
>With my price range (150-170K) for a 2BRoom/2Bath condo what is the probability of finding a decent condo

All help greatly appreciated. If anyone is selling their condo I would be interested to take a look

Thanks

[pandabear]

For that price in this neck of the woods will get you a condo at that price no problem.

[sondra_finchley]

Not downtown Arlington Heights though, not for that size/space for that price for the new condos.

[arzhan]

Thanks.

ANy site where I find how safe a neighbourhood is?

[Joe107]

Originally Posted by sondra_finchley

Not downtown Arlington Heights though, not for that size/space for that price for the new condos.

There are currently 221 condos on the market in Arlington Heights under 175k

[Zebra]

Arlington Heights is pretty nice and safe. You can always call the town's police department and they can give you more info on crime stats.

[HOWELL_STREET]

Dear Friends:

The towns that you mention in your 'OP' are communities that have overwhelming traffic congestion during rush hour times. So why not choose a town such as Harvard, Illinois and then commute via the METRA railroad? Since I am a senior citizen, I cannot answer your questions about schools. However, I would like to suggest that you visit the web site of 'Fannie Mae' or 'Freddie Mac'. On those web sites - - even the HUD web site - - view the "REO" listings. REO means "Real Estate Owned" (by Freddie Mac) for example. REO homes have gone to auction but have not been sold. And so the ownership returns to Freddie Mac. These listed homes are similar to foreclosed properties and might be available for a cheaper price than the current condo markets. The caveat here is that with REO homes, it is possible that the cosmetics of such a condo are in poor condition. So one has to weigh the factor of whether 'you' want to invest money into such property. But rebuilding the cosmetics is usually fun for a single person or young married couple. Hope this helps you.

Best Regards,

Carter Glass,
Cortland, IL &
Wheaton, IL

[reppin_the_847]

Dear HOWELL_STREET,

We need to keep in mind that "arzhan" might be quite young, and quite frankly, Harvard is a TREK from downtown Chicago despite the fact that the Union Pacific Northwest line does indeed terminate in Harvard. Not only that, Harvard is far more rural in character than towns such as Arlington Heights, Palatine, Schaumburg, etc. I'd only suggest the Harvard option for certain kinds of people, and judging from what the OP wrote, he probably doesn't fit into that demographic, at least not right now. He needs that halfway medium between a Harvard and living in Chicago, and I'd say he's right on the money with the towns that he's looking at. These towns still have "nightlife", high-end shopping, and other amenities that are probably not available in Harvard. Not to mention it's a much shorter ride to downtown Chicago than from Harvard. Just my two cents.

Originally Posted by HOWELL_STREET

Dear Friends:

The towns that you mention in your 'OP' are communities that have overwhelming traffic congestion during rush hour times. So why not choose a town such as Harvard, Illinois and then commute via the METRA railroad? Since I am a senior citizen, I cannot answer your questions about schools. However, I would like to suggest that you visit the web site of 'Fannie Mae' or 'Freddie Mac'. On those web sites - - even the HUD web site - - view the "REO" listings. REO means "Real Estate Owned" (by Freddie Mac) for example. REO homes have gone to auction but have not been sold. And so the ownership returns to Freddie Mac. These listed homes are similar to foreclosed properties and might be available for a cheaper price than the current condo markets. The caveat here is that with REO homes, it is possible that the cosmetics of such a condo are in poor condition. So one has to weigh the factor of whether 'you' want to invest money into such property. But rebuilding the cosmetics is usually fun for a single person or young married couple. Hope this helps you.

Best Regards,

Carter Glass,
Cortland, IL &
Wheaton, IL