Which Chicago neighborhood will sky rocket in value next? (Lincoln: real estate, 2015)

[Fighting Fungus]

We seen it happen in Logan Square, Pilsen, Cabrini Green area. What neighborhood in Chicago do you think you can but cheap now and in 10 years it will be 4 time more than you paid for it.

[jwaiter]

Hard to tell, east side of Humboldt Park is one spot I'd look in. Pilsen? Bridgeport?

[emathias]

I don't think there are any areas where a building today will be worth four times as much in 10 years. Partly because that would mean going from Lawndale prices to Lincoln Park prices in a decade. And there just aren't that many places that are priced like Lawndale that have a snowballs chance of becoming as popular as Lincoln Park in 10 years.

I think places like East Garfield Park, East Humboldt Park, Bronzeville and Uptown will appreciate faster than average. But they're not going to quadruple in value in 10 years.

[marothisu]

No areas will be worth 4X more than today in 10 years. That's just ridiculous - maybe if something happens to cause prices to nicely rise in a bad neighborhood where it barely costs anything to get a property (like Garfield Park), but doubtful that would even happen.

[chet everett]

Here's a much better question: WHEN will the values of Chicago real estate begin to show the same strength as other cities?

The downward pressure caused by out of control property taxes and years of horrendously irresponsible unchecked debt increases. The average home price appreciation in 20 major cities was 4x greater than Chicago:

Chicago-area home price growth in October was again the lowest among 20 major cities tracked by a leading index.
Local single-family home prices in October were up 1.3 percent from October 2014, according to the S&P/Case-Shiller Home Price Indices released this morning.
Nationwide, prices were up 5.2 percent October-to-October, the index reported.

http://www.chicagobusiness.com/reale...r-cities-again


There "growth engine" cities of Denver, Portland and San Francisco showed literally 10x stronger price appreciation than Chicago!

[Alacran]

East Garfield Park
West Loop is encroaching.

[chicagobear]

Uptown is on the way up.

[marothisu]

Originally Posted by chicagobear

Uptown is on the way up.

Uptown prices are too high to be at the "4X" thing - yeah sure, they are cheap when you compare it to Lincoln Park, but still not cheap enough to quadruple (or double even).. We're talking about going from a $250K property to $1M - it's not going to happen - maybe ever, or if it does, it won't be for decades. In areas like East Garfield Park, you could buy property for $30,000, sometimes even less. Not that it's going to happen, but if there was anywhere in town that could do it, it would be an area like that which is near an already gentrified or currently gentrifying area that could allow it to spill over. But again, quadruple? Not going to happen anywhere in the city in 10 years. I think if the OP would have replaced "quadruple" with "a good amount" then we'd have a much better conversation

[BRU67]

Originally Posted by Fighting Fungus

We seen it happen in Logan Square, Pilsen, Cabrini Green area. What neighborhood in Chicago do you think you can but cheap now and in 10 years it will be 4 time more than you paid for it.

4x? To quote James Carville, "it's the economy stupid." That's the main thing which will prevent such a dream from becoming reality. But since we are dreaming here, let's imagine we throw Madigan and Co. out of office on their ear, let Rauner and a pro business General Assembly and Senate take measures towards creating job growth so we move up from the 38th best state for business (per Forbes) into the top half, and elect a Mayor and Aldermen in Chicago whose main mission in life is not to appease unions and criminals but to shove it up Austin's and Denver's a-- by bringing as many leading companies and good jobs here as is possible.

Ahhhhhh Sigh. In that case, the pretty investment fairy now dancing around in my head and making me smile says East Garfield Park and South Lawndale for high risk/high reward and Humboldt Park and McKinley Park for a more "mid-cap" value level risk. I could see gentrification spreading and taking hold in those areas should Chicago's economy explode, and bringing one a very nice ROI, maybe even 4x in the more depressed areas that get discovered.

[chasfh]

What is "east side of Humboldt Park"? Is that all the way to Western? How far north does that go?