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I am looking in the area and all these seem great, but the area in general is confusing and I have some questions:
- Why are there toll roads? I live in CA and the only toll road I've ever seen is getting into SF
- Why is Riverwoods so expensive compared to elsewhere when just looking around the area shows everything is green, blue, near lakes, golf courses, etc.? It all looks like one giant suburban paradise, but then it's split into these three, Buffalo Grove, Arlington Heights, and more; yet Riverwoods is basically 600k to get into and I can find 100 homes on Zillow right now in Northbrook for 300-600
- Why are the home prices so wildly varied? One street can have properties for 300k, 1.3m, and 800k. 3000 SqFt is 400k in one area, then two miles away it's 800k. It's very different from where I am, where every house in town is 600-1.2m, condos are 250-350, and there's basically nothing else
- Where is the best area if I want a one story (with a basement), a decent amount of space in between neighbors, and a relatively peaceful commute down Sanders into Northbrook?
- I only plan on heading into Chicago once a month for work trips, if that. So, barring that, I'd like my taxes to stay local, my kids will go to school in the suburbs, I'd be spending most of my time in the area, etc. How should this influence my decision?
- How much should I expect to pay for a one bedroom / studio when I first move and am renting?
- Anything I NEED to know? I've been told Chicago has the worst sales tax in the country and certain counties have 2x the property tax of others, stay away from south Chicago, etc...
Welcome to the land that taxes and insiders have shaped...
Quote:
Originally Posted by SyZtheActuary
I am looking in the area and all these seem great, but the area in general is confusing and I have some questions:
- Why are there toll roads?Toll roads are a way to tax darned near anybody that needs to get from one part of suburban Chicago to another in a reasonable amount of time! I live in CA and the only toll road I've ever seen is getting into SF That is a whole other story, no comparison to the political reasons for Illinois Tollways...
- Why is Riverwoods so expensive compared to elsewhere when just looking around the area shows everything is green, blue, near lakes, golf courses, etc.? Good schools! It all looks like one giant suburban paradise, but then it's split into these three, Buffalo Grove, Arlington Heights, and more; yet Riverwoods is basically 600k to get into and I can find 100 homes on Zillow right now in Northbrook for 300-600 Perceived school quality is the biggest factor, coupled with tax rates and access to desirable amenities...
- Why are the home prices so wildly varied? One street can have properties for 300k, 1.3m, and 800k. 3000 SqFt is 400k in one area, then two miles away it's 800k. It's very different from where I am, where every house in town is 600-1.2m, condos are 250-350, and there's basically nothing else This is less about taxes than development patterns. In a nut shell, Illinois is not nearly as friendly to large developers as western states. It is much more like New England -- cranky old land owners grudingly sold off parcels of widely varied sizes and lots of independent builders built homes one at time. In areas where older homes are common there is a great deal of infill and teardown activity. That makes appraisals tricky but otherwise is considered an economic plus as varied home prices tend to prevent stagnation and towns do not age in a uniform manner. This makes some towns with good schools still affordable...
- Where is the best area if I want a one story (with a basement), a decent amount of space in between neighbors, and a relatively peaceful commute down Sanders into Northbrook? Not enough info -- what is your budget? How important are schools? Willing to renovate? What about diverse neighbors?
- I only plan on heading into Chicago once a month for work trips, if that. So, barring that, I'd like my taxes to stay local, my kids will go to school in the suburbs, I'd be spending most of my time in the area, etc. How should this influence my decision? No need to pay a premium for access to train...
- How much should I expect to pay for a one bedroom / studio when I first move and am renting? You can find nice places in safe rental areas for under $1000/mo
- Anything I NEED to know? I've been told Chicago has the worst sales tax in the country and certain counties have 2x the property tax of others, stay away from south Chicago, etc...
Thanks
The biggest factor is school quality. If you don't care about that you can really save a TON of cash. Towns like Wheeling or Prospect Heights are much more affordable than towns with highly regarded schools...
Taxes are insane and will continue to get much worse. Not just sales tax, which is a doosie, but sky high property taxes. The wacky tricks that many insiders pull to reduce the property tax on office complexes in Cook Co that should be very valuable often result in massively inequitable taxes. In Lake Co that sort of insider game is less common but the result is that towns with lots of valuable commercial property tend to subsidize the residential property and that makes it easier for folks to ask high selling prices. Very confusing to folks that do not understand how some towns have relatively affordable taxes and well supported schools but other towns end up with somewhat depressed home prices... BTW the leader of Illinois legislature, a power mad lunatic that has served his pals interests for decades very much wants to boost the state income tax too, though coming from California the total tax bill might still be smaller...
The biggest factor is school quality. If you don't care about that you can really save a TON of cash. Towns like Wheeling or Prospect Heights are much more affordable than towns with highly regarded schools...
Taxes are insane and will continue to get much worse. Not just sales tax, which is a doosie, but sky high property taxes. The wacky tricks that many insiders pull to reduce the property tax on office complexes in Cook Co that should be very valuable often result in massively inequitable taxes. In Lake Co that sort of insider game is less common but the result is that towns with lots of valuable commercial property tend to subsidize the residential property and that makes it easier for folks to ask high selling prices. Very confusing to folks that do not understand how some towns have relatively affordable taxes and well supported schools but other towns end up with somewhat depressed home prices... BTW the leader of Illinois legislature, a power mad lunatic that has served his pals interests for decades very much wants to boost the state income tax too, though coming from California the total tax bill might still be smaller...
Starting salary when moving there would be 65-70, but in my field after 10 years I would be 150-200
No family yet, but more than likely within that timeline
Don't really care about diversity. Coming from LA / SF / Sacramento, I doubt it can be more diverse
Priorities are the quietness, seclusion, distance between houses, closeness to amenities, etc.
Huge home near a train center = no; smaller home on a quiet cul-de-sac with a 5 minute drive to a main road = yes
Starting salary when moving there would be 65-70, but in my field after 10 years I would be 150-200
No family yet, but more than likely within that timeline
Don't really care about diversity. Coming from LA / SF / Sacramento, I doubt it can be more diverse
Priorities are the quietness, seclusion, distance between houses, closeness to amenities, etc.
Huge home near a train center = no; smaller home on a quiet cul-de-sac with a 5 minute drive to a main road = yes
Out of the towns that you mentioned, Riverwoods probably is the most appealing. The Barrington towns way west of Riverwoods are even more secluded and woodsy for the most part. Only problem is that their schools aren't as hot. I'd also consider Long Grove. Long Grove has a lot of similarities to Riverwoods, but gets Stevenson High School in Lincolnshire.
Out of the towns that you mentioned, Riverwoods probably is the most appealing. The Barrington towns way west of Riverwoods are even more secluded and woodsy for the most part. Only problem is that their schools aren't as hot. I'd also consider Long Grove. Long Grove has a lot of similarities to Riverwoods, but gets Stevenson High School in Lincolnshire.
Barrington has highly regarded schools, so I don't think the school factor is as much an issue as is location. Riverwoods is a northeast burb with close approximity yo the North Shore. That, as well as the school system shared with Deerfield, makes it more expensive than Barrington. Northwest burbs are just not as desirable although South Barrington, Inverness and parts of Barrington, are very desirable suburbs for the large lots, park district and fabulous schools.
Riverwoods is a bit out of the norm for NW suburbs. It is heavily wooded and has homes all over the map - from small somewhat run down 1960s ranches to enormous castle-like mansions. Right next to each other. When the older and smaller properties sell, it is usually as a tear down so a big home can be built on a large wooded lot. Just drive down Deerfield Road between Saunders and Milwaukee and you will see what I mean. Parts of Riverwoods have also flooded more than once in the recent past so watch out where you are looking. You may need flood insurance.
Riverwoods feeds into either Deerfield HS or Stevenson HS - both consistently rated at the very top of suburban Chicago schools. They have traded places atop the US News rankings for public schools over the years. Top schools drive high real estate prices and taxes.
You ask about Hawthorn Woods. It is an upscale area. Generally large homes on one acre minimum lots. 2700 sq/ft would be a smaller house in Hawthorn Woods. And $400K would be pretty cheap so be careful about what may need to be repaired (like a septic tank). Prices will vary depending on whether the home is in the Stevenson HS district or the Lake Zurich HS district. Nothing wrong with Lake Zurich HS, but it is just not in the same league as Stevenson or Deerfield. Some of the physical facilities in the grade schools feeding into Lake Zurich HS are quite old and some do not even have air conditioning. District 96 feeding into Stevenson has very impressive and modern feeder schools.
Much of Hawthorn Woods is well and septic. Like Riverwoods, there are no sidewalks, few street lights - so a bit rural. But it is a very nice area and very quiet. You have to drive about 10 to 15 minutes to get to shopping. But there is a lot of shopping nearby in Deer Park and Vernon Hills. Pretty much anything you would want. Many people, including me, prefer a quiet place to live away from all the hubub and have no problem driving 10 minutes to shopping or whatever. Long Grove is a lot like Hawthorn Woods but even more upscale and more expensive (partially because it feeds into District 96 and Stevenson HS). In the Chicago suburbs, school quality really drives real estate prices. Much more so than in other parts of the country. So even if you have no kids, investment wise, buying into a top school district will usually result in better resale down the line.
Budget is going to be an issue in the areas you are looking at. And I don't think there are any apartments in Riverwoods or Hawthorn Woods, though you may find a house for rent.
So where would you recommend if my budget is 300-550? I don't know what it will be but that's probably a good ballpark
Why not just look in Deerfield? It has the best school (or #2, depending on the year ...), is literally directly north of Northbrook, and I don't have to use a septic tank (ew)
Basically, everything is dictated by these schools, it sounds like
I'm assuming traffic feeds into Chicago, so if I end up north of Northbrook, I'll meet traffic heading into work?
I grew up in Riverwoods. Deerfield High School is a very good school...about a quarter the size of Stevenson HS.
Most folks move to Riverwoods because they want some space between your house and your neighbors. Two of my neighbors ran into eachother while walking their dogs. One asked the other: "Are you new? I've never seen you around." They had lived a few houses a way from eachother for 15 years. Folks really don't interact with one another. There are no downtown, post office, coffee shop, etc. where the community members can bump into eachother. That said, maybe that's no big deal for you. I now live in a larger community south of Riverwoods. We have neighborhood gatherings all the time and there are a lot more stores (humble and fancy), and a train line very close by. I was very ready for these things after growing up in Riverwoods.
You will be very close to your neighbors in the other communities you mentioned, but a little bit
I would take Deerfield or Northbrook over Buffalo Grove -- way too many subdivisions in the latter community. Lincolnshire sits somewhere between Deerfield/Northbrook and Riverwoods in terms of development, distance to stores/train, and community cohesiveness. Glenview, Arlington Heights, Mt. Prospect, also should be studied. Prospect High School is a top ten hs in the state and houses are the most affordable of the bunch. Choose Glenview if you want these qualities and better access to the Edens. Send me a PM for more info.
If I were you I'd consider Deerfield and Highland Park, then Northbrook and Glenview.
Hawthorn Woods and Barrington are too far that commute sucks.
Arlington Heights is a great town but a little louder/busier than Deerfield/HP.
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