Hi John,

I have been in real estate for over 18 years and firmly believe that if you have the budget for a townhouse you usually get better appreciation than purchasing a condo. Assessments are key. They are usually less than a condo and typically do not increase as quickly as they do in a condo. Note, when purchasing a condo in Chicago, especially with new construction, there is the cost of the con and usually an additional cost for the parking. With a townhome, of price of the home itypically includes the parking.

For an extenvise discussion of how to buy a townhome, may I suggest you check out my website which discusses this topic in detail.

Lots of luck to you.

Sheldon

Hi John,

This will very much depend on what are of South Chicago you are referring to: The South Loop? A super-hot area for condominium rentals! South suburbs? You are probably better off with a townhome or single family.

1, 2 or 3 bedroom? Again, it will depend on the building, the area demographic, the price, additional operating expensesand so so much more.

Since you are from out of the country, I strongly advise you work with an area-knowledgable Realtor to help you find the right fit for you now, and take into consideration future resale or rental at the same time.

Make sure and consider the insurance and condo fees. Look at the "condominiums considered" page on my website

The advice about a two bedroom is skewed. If the area you buy in has mostly two bedrooms, then yours would be as easy or hard to sell as the others. However, if most are 3 bedrooms you do not want to be selling a 2 bedroom. If one bedroom condos are a better value and in more demand than 2 bedroom condos, you need to consider your target market. I think the preference for a townhouse vs a condo is strictly a matter of opinion. But you might want to get the advice of several experts on that one.
Ruth