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Old 04-01-2013, 02:01 PM
 
14,798 posts, read 17,683,382 times
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For sale inventory is down significantly. Everyone was waiting for a huge increase in inventory after the Super Bowl. It never really happened. It's slim pickings for buyers right now. Appropriately priced places in the right areas sell very quickly.
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Old 04-01-2013, 02:04 PM
 
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Interesting. So what happened to that historic glut of condos from a couple of years ago? Bought up? Turned into rentals? Some of each? Exaggerated to begin with?
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Old 04-01-2013, 02:13 PM
 
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Quote:
Originally Posted by ChiNaan View Post
Interesting. So what happened to that historic glut of condos from a couple of years ago? Bought up? Turned into rentals? Some of each? Exaggerated to begin with?
Purchased and converted to rentals.
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Old 04-01-2013, 02:18 PM
 
Location: Chicago
3,339 posts, read 5,989,065 times
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Originally Posted by Vlajos View Post
Purchased and converted to rentals.
Yep. When I have listed condos for sale the first thing everyone wanted to know was whether the unit could be rented out. If it couldn't then interest was not nearly as high. Investors really took advantage of the low prices, it seems.
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Old 04-01-2013, 03:19 PM
 
2,918 posts, read 4,206,952 times
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Quote:
Originally Posted by nikitakolata View Post
Yep. When I have listed condos for sale the first thing everyone wanted to know was whether the unit could be rented out. If it couldn't then interest was not nearly as high. Investors really took advantage of the low prices, it seems.
With purchase prices getting ever lower and rent getting ever higher, I wondered why there weren't more people doing that. Apparently they were, after all.
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Old 04-07-2013, 10:40 AM
 
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Looking at some units in forest park and oak part today!! I've been reading and more and it seems lively, some were saying comparable to downtown madison, WI, where I am from. The place i am looking at are all located north of madison, west of harlem, east of lathrop and south of the metra track, so that boxed in area. It appears to good a good area to live. any thoughts?
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Old 04-07-2013, 12:57 PM
 
Location: Chicago
38,707 posts, read 103,176,801 times
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Whoever told you the area is comparable to downtown Madison is being a bit, well, optimistic. In terms of vibe and things to do for a 20-something, downtown Madison is pretty hard to beat though.

BTW anything west of Harlem isn't in Oak Park. The "box" you outline is all Forest Park, with Oak Park immediately east and River Forest immediately north and west.
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Old 04-08-2013, 07:56 AM
 
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Haha I feel you on the optimistic side. Noticed that yesturday. There were people out around 4 but only a few scattered. traffic was insane.

Hear you on the forest park.
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Old 04-08-2013, 08:25 AM
 
Location: Lake Arlington Heights, IL
5,479 posts, read 12,263,285 times
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If you are looking at Oak Park, Forest Park, what about Arlington Heights? Certainly not as lively as Chicago; but a step up from Schaumburg. And living within walking distance of Metra makes getting into and out of the city relatively easy.
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Old 04-08-2013, 08:37 AM
 
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I could not find housing there. I've been looking arlington, downtown, oak park, and a few came up in arlington, ahwile ago, i got in a bidding war and lost. I've been looking for a place for 7 months lol
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