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Old 02-23-2010, 11:14 AM
 
1,038 posts, read 1,225,431 times
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Considering on buying a home near Keeler and North Ave. I've heard that the eastern edge of HP has been improving and was wondering if the same can be said of the western edges. I found a pretty good bargin. Is it safe? Will this be the next "hot" area? Not very familiar with this area, appreciate any suggestions.
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Old 02-23-2010, 11:37 AM
 
Location: Humboldt Park, Chicago
3,502 posts, read 3,134,181 times
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I bought a house in HP in 2005 and have had a number of regrets about it. If by "improvements" you mean more cell phone stores, currency exchanges and dollar marts, I guess so, but otherwise WHP has been pretty stagnant over the last couple of years. Still have to go out of the 'hood to grocery shop and the bar/restaurant scene hasn't had any newcomers in quite some time. Plus with the service cuts, the North Avenue bus is a bigger pain than ever. Overall, its an okay place to live, but you have to put up with a lot of nonsense from the locals. Gentrification might take over eventually, but HP isn't about to succumb without putting up a fight.

Last edited by linicx; 03-09-2010 at 11:45 AM.. Reason: incomplete
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Old 02-23-2010, 02:17 PM
 
Location: Humboldt Park, Chicago
2,686 posts, read 7,870,272 times
Reputation: 1196
Rent for a couple of years in that area before buying. I would look at logan square instead. West of pulaski is really rough. Menards should help but that will be awhile before you see significant improvement. I have buyers remorse from buying in 2006 and I am just east of pulaski near north.
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Old 02-23-2010, 08:36 PM
 
Location: Chicago
38,707 posts, read 103,166,939 times
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"Is West Humboldt Park gentrifying..."

No.
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Old 02-23-2010, 08:45 PM
 
Location: Chicago
4,688 posts, read 10,105,114 times
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I doubt there will be a new 'hot' area like what occurred the last 15 years anytime in the near future, but to the extent that any areas improve, its unlikely West Humboldt Park will be among them.
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Old 02-23-2010, 08:52 PM
 
1,728 posts, read 4,726,900 times
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I would avoid due to the gang problem. West Humboldt Park is home to half a dozen gangs that are battling it out over turf. You can see block by block due to the graffiti.
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Old 02-24-2010, 03:39 AM
 
445 posts, read 1,344,158 times
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Dump.

Who knows what the future holds, but right now, no. Craphole by any reasonable standard.

Life is short, life is precious and areas very rarely gentrify quickly and totally enough to make it worth 'getting in early' to cash in big, if you're planning on actually living there. You'll fritter away too many precious days living in a cesspool, waiting for things to hopefully get better.

A wise old dog once gave me what I now come to realize was one of the best pieces of advice I ever, ever received on anything having to do with speculative investing...

"Always be a bit late in coming and a little early leaving" - meaning, don't be one of the suckers who insists on being first in or last out of anything, letting greed take over in trying to wring out every last nickel. Those are the people without any sort of meter for risk:reward and they're also the ones that always wind up crashing and burning because of gamblers ruin even if they're playing a game with a generally positive expectation.

If and how fast WHP 'gentrifies' to the point of gentrification-critical-mass- where the gentrification begets more gentrification which begets full blown gentrification mania- has to do with a lot of broader economic factors which cannot be reliably predicted. Also, if you're really insisting on making a gentrification play in the city of Chicago, WHP is probably an in-optimal use of capital. There are better places to do that, even if they're a tad pricier.

Last edited by linicx; 03-09-2010 at 11:46 AM..
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Old 02-24-2010, 03:45 AM
 
226 posts, read 979,573 times
Reputation: 84
It's yuppyfying.

Quote:
Originally Posted by Holdencaulfield View Post
Considering on buying a home near Keeler and North Ave. I've heard that the eastern edge of HP has been improving and was wondering if the same can be said of the western edges. I found a pretty good bargin. Is it safe? Will this be the next "hot" area? Not very familiar with this area, appreciate any suggestions.
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Old 02-24-2010, 07:43 AM
 
Location: Humboldt Park, Chicago
2,686 posts, read 7,870,272 times
Reputation: 1196
Poker,

Where would you be looking to buy if you were looking to invest in real estate.

If I had millions, I would be buying strip malls for pennies on the dollar. I would also looking at larger apartment buildings in a couple of years too if I had more resources.

Until then, I may buy another 2-4 flat in logan/west town/bucktown or condo downtown or simply buy sfh in a leafy suburb with good schools.
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Old 02-24-2010, 09:07 AM
 
58 posts, read 185,705 times
Reputation: 58
There's still a lot of Puerto Ricans and Blacks there, so you may want to wait a bit.
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