Chicago Neighborhoods (Richmond, Franklin: lower-class, apartment, buying)

[ChiNaan]

Or go with a condo. I know plenty of young professionals who have bought condos in "desirable" Chicago neighborhoods in the $200's and even $100's. They're not huge condos, of course, but surely a 23 year old who is wanting to live close to the Loop doesn't have a very large family. Of course, the way the condo market is now I wouldn't buy unless I planned to keep it for quite awhile, and only if the taxes, association fees, and loan interest add up to significantly less than rent. With rent going up and sale prices staying low, though, that shouldn't be too hard to find.

Can you tell us more about your situation, OP? It's unusual for a 23-year-old urban dweller with the means to buy a $300K residence to also have a family already. Nothing wrong with being unique, of course, but it makes it harder for us to figure out what might work best for you. Is your desire to be close to the Loop because of your job and/or your partner's job? Or are you just wanting to be close to the "action"? How many people comprise the family you'll be living with?

[oakparkdude]

A. Affordable
B. Safe neighborhood
C. Short commute (to Loop)

You get to choose two.

[ChiNaan]

Originally Posted by oakparkdude

A. Affordable
B. Safe neighborhood
C. Short commute (to Loop)

You get to choose two.

It all depends on how affordable, how safe, and how close. These are relative concepts, not yes/no binary variables.

[irvparkrez11]

Originally Posted by oakparkdude

A. Affordable
B. Safe neighborhood
C. Short commute (to Loop)

You get to choose two.

How about all three?

837 West Lakeside Place, Uptown, Chicago, IL. $237,500. Lawrence Ave, near Lake Shore Drive.

That's the closest home for under $300K near Downtown.

[irvparkrez11]

Originally Posted by ChiNaan

Or walking in Hyde Park after dark. Or in the part of Uptown that is also in Lake View. On your way to your $300,000 single family home in Lincoln Park.

I'm also scared to go to Sauganash on the Northwest side. There's forest over there and a big black bear might eat me.

[marothisu]

Originally Posted by ChiNaan

Or go with a condo. I know plenty of young professionals who have bought condos in "desirable" Chicago neighborhoods in the $200's and even $100's. They're not huge condos, of course, but surely a 23 year old who is wanting to live close to the Loop doesn't have a very large family. Of course, the way the condo market is now I wouldn't buy unless I planned to keep it for quite awhile, and only if the taxes, association fees, and loan interest add up to significantly less than rent. With rent going up and sale prices staying low, though, that shouldn't be too hard to find.

Can you tell us more about your situation, OP? It's unusual for a 23-year-old urban dweller with the means to buy a $300K residence to also have a family already. Nothing wrong with being unique, of course, but it makes it harder for us to figure out what might work best for you. Is your desire to be close to the Loop because of your job and/or your partner's job? Or are you just wanting to be close to the "action"? How many people comprise the family you'll be living with?

Yeah, i agree. If the OP doesn't have kids yet, it might be better to wait IMO. Rent and save some money first if you plan on getting a SFH in the near future when you do have kids. There are some great deals on condos in some good neighborhoods.

[oakparkdude]

Originally Posted by ChiNaan

It all depends on how affordable, how safe, and how close. These are relative concepts, not yes/no binary variables.

Of course its not binary, and it all depends on what you are used to, but as a general principle, its helpful to keep in mind.

[ChiNaan]

Originally Posted by irvparkrez11

How about all three?

837 West Lakeside Place, Uptown, Chicago, IL. $237,500. Lawrence Ave, near Lake Shore Drive.

That's the closest home for under $300K near Downtown.

And again, we see how these are relative variables. Uptown is not what most people would call close to downtown. Also, some people wouldn't call it safe (though I'd disagree somewhat). Didn't you call Uptown the unsafe part of Lake View?

That residence is 8 miles from the Loop. At that distance much of the city and a couple of near western suburbs are just as close.

[mtestify]

I was trying to give everyone a general idea of what I am looking for, but I am willing to compromise. Pushing out the perimeter isn't a problem; I pick a longer commute to getting jumped any day! Plus, having 2 out of 3 choice's isn't too bad. It's not like I'm going to live my life in The Loop, I just wanted to see if the option for proximity was there. The people moving consist of 3 women, 1 student and 2 professionals, no kids.

Coming on here I just wanted to have a better understanding of the real-estate in Chicago, before speaking with a realtor. I thought it would be better to hear about different neighborhood, from different individuals, rather than just the one. ChiNaan, I have noticed that townhouses and condos are considerably cheaper, and look a LOT better than SFH's. So, we're going to have to look into some condos or townhouses as well, which I don't hate. I'm definitely going to revaluate. Everyone here has given me a reality check. Lol. Thanks, again!

[nillmann]

Hello, I am currently looking into apartments/houses to buy in Chicago. I found one near Sacramento Blvd and Franklin Blvd. Also, I found one near Van Buren St and Richmond St. Since I'm not familiar with Chicago (I currently live in St. Louis), I wanted to ask your opinion about the area. Thanks!