Home Buying in Chicago>Question Details

sharonb, Home Buyer in 60625

Can anyone can tell us a little more about Dearborn Park?

Asked by sharonb, 60625 Mon Dec 31, 2012

My husband and I have been thinking about purchasing a condo in the Loop area. We have not officially started looking but will probably start sometime next year. Currently we are renting in Lincoln Square but would like to be closer to downtown. We recently stumbled upon Dearborn Park while driving through the area and were impressed by the neighborhood atmosphere with all of the mature trees and parks nestled so close to the Loop. We noticed some single family homes (out of our price range) as well as townhouses. We've never considered a townhouse, but it seems like it would almost be like living in a single family home in the heart of the city so that might be a great option for us. However, it seems like the prices of townhomes cost more than their condo counterparts. Can anyone tell us a little more about Dearborn Park and whether or not the higher price of a townhome would be a better choice vs a condo?

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Hey Sharon,

Dearborn Park 1 is anything north of Roosevelt - this section was primarily built in the late 70's and then south of Roosevelt is Dearborn Park 2 - a newer phase from the 80's. Both of these areas are planned developments and definitely have that suburban feel right in the middle of the city so it's very unique and whenever a town home or house goes on the market there are quite a few people who show interest right away. Although the single family homes are a bit above your comfort zone with price a townhouse is the perfect middle ground. Although they can be more expensive than a condo Dearborn Park townhouses generally have parking, outdoor spaces and just the feel of a single family house may be worth that additional cost. Plus, these town homes have monthly assessments so you don't have to worry about common area maintenance, snow/trash removal and I will need to double check but I believe things like roof and exterior maintenance may be included.

Long story short I would definitely say town home trumps condos because buyers also want more of that single family feel and space but still live in the city rather than relocate to the burbs!

Jeff Stewart
REALTOR®, @properties
3101 N. Greenview Avenue, Chicago, IL 60657
309-269-3499 CELL | 773-305-0480 FAX
jeffstewart@atproperties.com
0 votes Thank Flag Link Mon Dec 31, 2012
Dearborn Park is cool little nook and it is walking distance to many parts of the loop. The older townhomes don't have garage parking, but other that that it is a great place. I work with first time buyers all the time and would be happy to walk you through the process.

All the best,

Ivan Sagel
312.515.7823
Ivan@atproperties.com
0 votes Thank Flag Link Wed Jan 9, 2013
There are many great answers here. I started my real estate career in 1991 in a small real estate office in Printers Row, just across the street from Dearborn Park. It was a great neighborhood then and has only become better with the addition of all of the services in the area. If you make a move to this amazing community I promise that you will have many wonderful years here. It has always been my favorite neighborhood but hey, I'm a little biased.
0 votes Thank Flag Link Tue Jan 1, 2013
Thank you all for your great answers! :)
0 votes Thank Flag Link Mon Dec 31, 2012
Hi, well congratulations and good luck next year. It seems like you have a good idea what it is that
you are looking for, condos and townhouses, different from single family homes, will have usually associations with monthly association fees that include various different items. So make sure you
find out exactly what these are, and one good advice
from your "Mom Realtor" stay within your comfort zone, with your purchase price and
the respective monthly expenses, you can always go bigger and better down the road.

A lot of Realtors have given you some good insight in the Dearborn Park area and I feel I should not
add much of anything.... except that a very good colleague of mine


Jeff Stewart
REALTOR®, @properties

below has given you some good thoughts and I would strongly recommend to you to contact him.
Feel free to get back to me as well, I strongly suggest to you to hire and work with ONE Realtor, your
personal, trusted and area experienced Buyers Agent, all that will be required from you is your 100 % commitment to that one Realtor and you strong loyalty to him or her, so that your Buyers Agent also can fully commit to you his or her clients.... I wish you luck, and if you like to find out more about the many advantages to work with a Buyers agent when looking to buy a property, e-mail me
and I gladly forward you a list of all the advantages and services that Buyers Agent will provide to you.


Sincerely yours,
Edith YourRealtor4Life & Chicago and Northern Illinois Expert

Working always in the very BEST interest of her clients, Buyers, Sellers and Investors alike....
And always with a SMILE 
Covering for @Properties the city of Chicago, all N and NW suburbs, the fine homes on the
North Shore, and many of the W and SW suburbs, and with her trusted Partner Agents all of
the US and worldwide properties. Edith speaks French, German, some Spanish and other.....
@Properties ---- EdithSellsHomes@gmail.com or EdithSellsHomes@atproperties.com
Check out my website at htttp://tinyurl.com/YourRealtor4Life
HAVE THE MOST WONDERFUL DAY :)
0 votes Thank Flag Link Mon Dec 31, 2012
Thank you Edith. Have a fun and safe new years!
Flag Mon Dec 31, 2012
Dearborn park is a fantastic area. It is in a great location, and close to a lot of things. It was built in two phases. The first phase was obviously a little older. The values came down like most areas, but the market time for something well priced will move fast.

I know this area very well. If your looking to buy, get a goof buyers agent. Its free to use their services. Interview two or three, and go with the one you mesh best with. I would be happy to help!
0 votes Thank Flag Link Mon Dec 31, 2012
I specialize in the area and would be happy to answer your questions. Email me at jmichaels@remax.net and we can discuss
0 votes Thank Flag Link Mon Dec 31, 2012
See the link from Wikipedia about Dearborn Park. I agree Dearborn Park is an area in Chicago that is not often talked about or do we hear in conversation about “where-to-live' in Chicago. Dearborn Park offers so much convenience for city dwellers that are looking for a neighborhood feel just minutes away from shopping, transportation, nightlife, and all the cultural activities the city has to offer.

Town Home Vs Condo, each has its pros in cons. Both of them in the Dearborn Park area will have some type of home owner association; some of them have stronger association than others. Not all of the condos will be in hi-rise vertical living. You will be able to find a verity of types of condos depending on your price range.

Think about what life style you want. While you will be more in association fees for high rise condos, you will also have less responsibility if the heating break downs for example; along with the high rise condos comes amenities. Do the amenities (association fees) of high rise living and the expense of the amenities out weigh the lower cost of the association fees of Town Home with fewer amenities. It is life style choices.

Work with a Broker show will listen to your needs, while maintaining your budget in a realistic light.

Happy New Years,

Manuel Brown, Broker
0 votes Thank Flag Link Mon Dec 31, 2012
As stated Dearborn Park was built in 2 sections, both before the R E Bubble so the units did not suffer as much as the rest of the S Loop that was built up tremendously in the past 10ish years when it all crashed in 2006ish. You can find condos priced like the T-houses and there are other T-houses near Indiana. Both condos and T-houses have parking and it usually is garage. Both have assessments.
People tend to distinguish between whether or not they want to have vertical or horizontal living space. Some folks do not like all the stairs in T-houses. Not sure I would focus that much on either/or, but start out looking at both and over time you will narrow your criteria. Price tends to be the big focus. Whatever you find that seems like the best bang for your $$$ might determine the decision.
The area South of Roosevelt has accquired a lot of retail developement which was lacking a number of years ago so folks do not feel so isolated.
0 votes Thank Flag Link Mon Dec 31, 2012
If you accept the premise a single family house is the most desirable living space, then townhouses are the next best thing. Many townhouses are fee simple ownership in Dearborn Park, so while there are assessments for maintenance and some exterior upkeep depending on the complex, your ownership is complete and separate from the other units.
Financing is also easier to come by, and you are not tethered to the financial condition of the association or the other members as you would be in a condominium association.
However, as you have discovered, this lifestyle choice has a price tag, and you may find that for you and your family right now, the condomiums may be the best choice.
0 votes Thank Flag Link Mon Dec 31, 2012
Yes, townhomes cost more than condos but they have more to offer in terms of outdoor space typically and a less dense living environment. Also, it's like living in a single family home without all the maintenance responsibilities. In the South Loop there has been a lot of supply of condos (much less lately) so the townhomes are more scarce.

But if you are looking at townhomes in that area I would consider the townhomes throughout the South Loop and also University Village where I used to live.

If you need a realtor to help you find a place there you should give us a call since not only do we offer full service but we share our commission with our buyers that could be worth several thousand dollars in savings to you. Please call me at 312-738-0232 to find out more. We have done a lot of business in the South Loop and University Village.
Web Reference: http://LucidRealty.com
0 votes Thank Flag Link Mon Dec 31, 2012
I love Dearborn Park. It's one of my favorite areas of the city. It's kind of like a subset of Printers Row. Lots of good restaurants. Walking distance to the loop, close to everything. A very adult area, unlike Lincoln Park, which can be irritating. At this time I am just handling rentals, but my realty company would be happy to review condo vs townhome for you. Good luck to you!
0 votes Thank Flag Link Mon Dec 31, 2012
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