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Old 08-07-2014, 07:17 PM
 
1 posts, read 750 times
Reputation: 10

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I'm a former U of C student, lived wonderful years in Hyde Park. Now I am planning for retirement in coming years, and am considering taking a pied a terre - both as an investment (rental), to use on occasion when I am in town on business or we take family visits to see friends, and eventually as a true pied a terre upon retirement and/or should one of our kids decide to move to Chicago.

What can anyone tell me about the long range appreciation value of Hyde Park, the do's and don'ts of real estate there, and any intangible factors?

I'm pretty familiar with the neighborhood, so you don't need to explain what is there, security concerns, etc.

I'm interested in the real estate story.

Thanks in advance for any comments.
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Old 08-11-2014, 08:57 AM
 
Location: NYC, CHI, UK
520 posts, read 601,583 times
Reputation: 872
Quote:
Originally Posted by LOOKINGINHP View Post
I'm a former U of C student, lived wonderful years in Hyde Park. Now I am planning for retirement in coming years, and am considering taking a pied a terre - both as an investment (rental), to use on occasion when I am in town on business or we take family visits to see friends, and eventually as a true pied a terre upon retirement and/or should one of our kids decide to move to Chicago.

What can anyone tell me about the long range appreciation value of Hyde Park, the do's and don'ts of real estate there, and any intangible factors?

I'm pretty familiar with the neighborhood, so you don't need to explain what is there, security concerns, etc.

I'm interested in the real estate story.

Thanks in advance for any comments.
I just bought a condo in Hyde Park as an investment property/future abode. It was very difficult finding a building that didn't have rental restrictions, so that could possibly be a problem for you. I have found that since I began looking at the area, things have been changing quickly in the neighborhood, especially around 53rd St, which has been great.
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Old 08-11-2014, 11:54 AM
 
8,425 posts, read 12,192,341 times
Reputation: 4882
If you are buying a property for only occasional use, remember what sells later. A studio or a one bedroom may be fine for you but they are relatively difficult to unload. For an investment property, the minimum size should be two bedrooms.
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