Ravenswood/Lincoln Square for first time buyers

[jjjttt]

Originally Posted by MannheimMadman

Totally able to be done. I just looked at the MLS and saw 28 2BR condo units between $0 and $250K.

There really isn't much to avoid in Ravenswood or Lincoln Square. The only area of Lincoln Square that's truly shabby is between Lawrence and Foster N/S and the river to Rockwell E/W.

Other than that, it's really great.

Just curious why you say to avoid the river to Rockwell E/W? Between Lawrence and Montrose, it's one of the most beautiful places in Chicago (Rockwell Gardens). Is it more north where it's not as lovely?

[ForYourLungsOnly]

North Center/Ravenswood/Lincoln Square/Roscoe Village are my favorite parts of the Northside. A condo would be doable for you in that price range.

[pidgeon92]

Originally Posted by glass_of_merlot

Isn't the problem with condos in Chicago their huge association fees?

That and property taxes. I don't know if they hit condo owners as hard as they hit house owners, but my property taxes went from $8,000 to $10,000 this year. The increases are going to keep coming over the next few years to fund the pension crisis.

Be sure to factor in the current and future property taxes before making any real estate purchase.

[glass_of_merlot]

Originally Posted by pidgeon92

That and property taxes. I don't know if they hit condo owners as hard as they hit house owners, but my property taxes went from $8,000 to $10,000 this year. The increases are going to keep coming over the next few years to fund the pension crisis.

Be sure to factor in the current and future property taxes before making any real estate purchase.

That is just crazy! I would LOVE to own a house in the city. I really don't want to leave and move to the suburb when we decide to leave and buy a house. But i also don't want to spend hundreds and hundreds of dollars each month in taxes alone.

[compactspace]

Originally Posted by glass_of_merlot

That is just crazy! I would LOVE to own a house in the city. I really don't want to leave and move to the suburb when we decide to leave and buy a house. But i also don't want to spend hundreds and hundreds of dollars each month in taxes alone.

(Note that your property taxes will likely be higher in the suburbs thanks to a smaller base.)

It's a trade-off. Chicago is paying for past decisions. It would be better if, in addition to tax hikes, the pensions could be renegotiated and some fat trimmed. While the latter is a possibility, the former was knocked on the head by the Illinois supreme court. I was happy to see my taxes go up less than I had anticipated, and I'm a condo owner, for what it's worth.

I can probably absorb another hike to sure up the teacher's fund, but I won't be impressed if, after getting the ship straight, the city refuses to invest in infrastructure like El expansions. I'm watching closely to see if old-style Chicago corruption eats all the cash.

Now if you want to leave for a city full of thought leaders with greater amenity, your options include NYC and maybe SF: both of which have higher taxes than Chicago. (Don't know about DC, Boston and LA.)

You could leave for a low-tax city, but you'd need to be accepting of car-centricness and conservatism. The suburbs of Chicago generally have higher taxes than Chicago itself.

Interestingly, my home city of Sydney has very low property taxes -- they're called 'rates' and are about a tenth or less of what I pay in Chi. On the other hand, every property purchase is subject to Stamp Duty, which on a million dollar purchase (the median in Sydney) runs to $50K. And the citizens of NSW are considering introducing higher property taxes to help put a lid on prices.

[knitgirl]

Originally Posted by jjjttt

Just curious why you say to avoid the river to Rockwell E/W? Between Lawrence and Montrose, it's one of the most beautiful places in Chicago (Rockwell Gardens). Is it more north where it's not as lovely?

I am curious too, as I completely agree with you.

[via chicago]

Yea thats bad advice, that area is beautiful. The streetscape of Lawrence itself is prehaps a little harsh and theres not much in the way of nightlife, though theres still plenty of places to eat both high and low end. Goosefoot is right on that strip...hardly shabby. Best banh mis in the city at Nhu Lan. Harvesttime is one of my favorite grocery stores in the city. Easy access to the river bike path and parks.

And yes, once you get off of Lawrence, the residential streets are all charming and shady with classic well preserved and maintained Chicago architecture. That area around the Rockwell stop is quiet and tucked away, populated by local small businesses, and rather expensive SFHs. Not sure why anyone would have a problem with it.

North of Lawrence is fine too FWIW. Even Arcadia Terrace is charming, if perhaps a bit more overlooked by traditional renters (prob due to lack of L access). But I have some friends who live up that there and its really pleasant and has a bit of an off the beaten path feel, in a good way.

[MannheimMadman]

Originally Posted by jjjttt

Just curious why you say to avoid the river to Rockwell E/W? Between Lawrence and Montrose, it's one of the most beautiful places in Chicago (Rockwell Gardens). Is it more north where it's not as lovely?

Originally Posted by knitgirl

I am curious too, as I completely agree with you.

Between Lawrence and Montrose is nice. Lawrence from the river to Rockwell is pretty ugly, and there tend to be some spats and gang stuff happening on the east bank of Ronan park as well as (sometimes) river park. I'd be interested to see property values west of California versus east.

[Larry Siegel]

Originally Posted by jjjttt

Just curious why you say to avoid the river to Rockwell E/W? Between Lawrence and Montrose, it's one of the most beautiful places in Chicago (Rockwell Gardens). Is it more north where it's not as lovely?

That's Ravenswood Gardens. Rockwell Gardens was a CHA housing project on the west side and no longer exists.

There is a slightly rough area somewhere near there but I am forgetting where. Right around Wilson and Rockwell is beautiful.