Can this be done - want to buy (Chicago, Evanston: short sale, foreclosures)

[13blackcats]

Hello all! I've been reading extensively here and while I have found a lot of useful information, I'd still like some opinions on our situation.

We rent in Logan Square, but are looking to buy. We like Logan Square (except we aren't in walking distance to a park). This is what we are looking for (kind of in order of importance), do you think it's possible?

1) We would prefer SFH because we would like to garden (if we had to go to a community garden instead of back yard I doubt we'd end up doing so).
2) We need at least decent schools (4th grade on), preferably ethnically/racially mixed, not predominately anything.
3) We need at least 3 bedrooms and 1.5 baths.
4) We are looking for 250,000 or less. This is pretty easily affordable for us. We could go higher, but keeping at this price will make it affordable (barely) if we lose our lower income job. This "safety net" is important to us. Maybe it's better to say we are looking at $1800 a month or less including taxes.
5) Preferably walking distance (< 1 mile) to a park.
6) We would like to be in somewhat of an "urban neighborhood" preferably in the city. Meaning, if we want to go for a walk in the evening we'd like to have restaurants, music venues and locally owned stores to walk around/go to. Like how the shopping/eating areas of Lincoln Square, Roscoe Village, Wicker Park and Logan Square are. And getting to the conservatory, or lakefront, or museum isn't a hassle.
7) Public transportation to downtown in walking distance would be really nice.

I know this is a long list, and maybe this is why I'm having trouble focusing on an area. We've looked at Evanston (in an area that is not great, not terrible), Portage Park area and the surrounding neighborhoods. Personally I'd be interested in getting into Humbolt Park, but the schools aren't good enough. The housing in Berwyn also interests me, but I'm not sure about the parks and neighborhood feel, and it's a little further out. Am I missing some great neighborhood somewhere? Elmwood Park maybe?

If I had more $$ we'd have it made, but isn't that what everyone else says?

[Ron.]

From reading your post it sounds as if you are not familiar with Chicago at all.
The entire city of Chicago is "urban" some areas more than others.

You're looking for a 3 bedroom SFH for $250K/$1800 in Chicago. good luck.

My advice would be to get a Realtor to work with. Let them find eveything you're looking for and all you have to do is go visit. You're putting waaaay to much stress on yourself with this. The home buying process can be a bit much and that's understandable. But get a realtor first and she/he can help you find what you're after and also help you create a more realistic "list"



Good luck

[13blackcats]

Thanks for the reply ChicagoRon. I guess what I meant by 'urban' was that I don't want to move to a place that is more car friendly then walking friendly, which Berwyn seems like it might be. I've only lived in the city a couple of years, but I wouldn't say I don't know it at all.

I pretty much realize I can't get all of these, but am not sure how much I can. Maybe if we can give up one, we can get the others. Maybe there is a neighborhood I haven't thought of that has decent schools in our price range. That is why I posted here. To get some more ideas.

We have seen places in this range, mostly short sale and foreclosures. Still reading up on those processes to see if they are worth the risk, but so far I'm thinking probably not.

We do plan to work with a realtor, but haven't chosen one yet. And I don't like to depend on someone else 100%. I like to do some research myself as well. It can be stressful, but I enjoy it as well.

Anyway, thanks again, I appreciate you taking the time to reply!

[Drover]

SFH for 250 or less? And 3 bedrooms at that? Unless you like ducking bullets at night, you're not going to find that in this town. Nonetheless, something to consider is if you buy a condo in a small building such as a 2 or 3 flat with a common back yard, your neighbors probably won't mind if you garden the common area; in fact they may thank you.

[13blackcats]

Thanks for the condo idea Drover, we will definitely consider it!

[Humboldt1]

13blackcats,

With few exceptions, the public schools are lousy. In Logan Square you would be near Lane Tech, which is a great school. Whitney Young is also good near the United Center.

Your budget of 250m is low for a single family and since this is your first purchase I would not recommend a foreclosure or short sale. The condo idea may work witha shared garden, depending on the building. It just depends how much space you are looking for and whether or not you go frame or masonry on the structure which will dictate you price point.

You mentioned Elmwood Park as well so I assume you don't have to be in the city. Where will you be working and where do you want to live. Based upon your work other posters can better recommend where to live.

[BRU67]

Originally Posted by 13blackcats

Thanks for the reply ChicagoRon. I guess what I meant by 'urban' was that I don't want to move to a place that is more car friendly then walking friendly, which Berwyn seems like it might be. I've only lived in the city a couple of years, but I wouldn't say I don't know it at all.

I pretty much realize I can't get all of these, but am not sure how much I can. Maybe if we can give up one, we can get the others. Maybe there is a neighborhood I haven't thought of that has decent schools in our price range. That is why I posted here. To get some more ideas.

We have seen places in this range, mostly short sale and foreclosures. Still reading up on those processes to see if they are worth the risk, but so far I'm thinking probably not.

We do plan to work with a realtor, but haven't chosen one yet. And I don't like to depend on someone else 100%. I like to do some research myself as well. It can be stressful, but I enjoy it as well.

Anyway, thanks again, I appreciate you taking the time to reply!

I wouldn't say Berwyn is more car friendly than walk friendly. It's very much like a city neighborhood, with a majority of the housing stock being Chicago Bungalows on 35 foot wide lots. All areas of the community are served by public transit -- the CTA Blue Line in the north, the CTA Pink Line in the center and the Metra in the south, with several bus routes too. There are also several parks, with Proksa being the best.

I've lived in several City neighborhoods, including Logan Square, and we're comfortable here. It's a really nice mix of city and suburb, IMHO.

And you could easily get a Chicago Bungalow here for $250k or less, and wouldn't have to duck bullets in the night We've lived her 5 years and have had 0 problems. The house may need some updating, but you can do that over time, and get exactly what you want at the end.

As to foreclosures, this greatly depends. The market is such right now that I don't think you'd have to go to this level to get a good solid house in your price range. There are definitely good deals to be had on the foreclosure front but if I were looking at such a crib, I'd get it very throughly inspected, and I certainly wouldn't try to take on any "basket case." Costs can add up fast with a poorly maintained house and your "great deal" could become a bad deal very quickly.

[Manigault]

I think you ought to at least look at Hyde Park. However for 250K we're talking condo money in that area. For a SFH, maybe in South Shore for that amount. Maybe in Evergreen Park or Oak Lawn.

[Lookout Kid]

Originally Posted by Manigault

I think you ought to at least look at Hyde Park. However for 250K we're talking condo money in that area. For a SFH, maybe in South Shore for that amount. Maybe in Evergreen Park or Oak Lawn.

Hyde Park is great, but very $$$$$. I'm not sure you can get a decent-sized 3-BR for $250,000 there.

[BRU67]

Originally Posted by Lookout Kid

Hyde Park is great, but very $$$$$. I'm not sure you can get a decent-sized 3-BR for $250,000 there.

Probably in Evergreen Park and Oak Lawn though, if she wants to live south.