Any insights into buying a condo in Albany Park or Iriving Park? Safe? Good Investment? Better options?

Dwood
Home Buyer
Chicago, IL

New job in NW suburbs causes me to look near hwy and near Metra, while love of city causes me to look in Chicago. Currently I live in Andersonville where I love "walkability" to neighborhood infrastructure. I recognize I may sacrifice that for a larger, more-affordable condo in area with easy commuter access. Safety is a priority and of course I'd love to see return on investment. Price range: 200K-240K. I don't know much about Albany Park or Iriving Park neighborhoods and am interested in their investment performance potential, their "vibe" as a neighborhood, their safety etc. I greatly appreciate any thoughts!

Answers (1)
Christian M. Mo...
Agent
60625
FIRST ANSWER

They are both great neighborhoods and pretty comparable in terms of what you can get within your price range, which will be typically a 2br/2ba resale or new conversion, 240k might be able to get you into new construction likely to be off the beaten path. Rule of thumb will be, buy somewhere with parking ,walking distance (3 blks tops) of the elevated train, the eastern the better, if appreciation is important . East Albany Park I would say is a bit more in tune with your beloved Andersonville since it benefits from being right next to hip Lincoln Square , and is sought-after by most budget concious condo buyers looking for equity, as a good alternative . Hope this info, is plenty useful and if you want to get more into it please contact me via E-mail.Good luck !!

Sun Aug 5 2007, 20:39

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