Home Buying in South Chicago>Question Details

Mike, Home Buyer in Chicago, IL

I currently live in East Village, own a 2Bed/2Bath condo. My wife and I are having our second child in

Asked by Mike, Chicago, IL Wed Jul 2, 2008

September and would like to get an idea of some suburban towns that have new construction single family homes (South/ West of City works best) that are within close proximity of the City (I work in Loop). We have looked at Oak Lawn and like the area and there seems to be some nice, new construction of Single family homes going on there. I would like any suggestions on comparable areas.....good schools, not in the middle of nowhere, near the City, transprtation, etc.....do I ask too much? Ha ha ha...Thanks!

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As a long time Beverly resident and contractor who has worked on many homes there I would caution you that most of the homes on the market there desperately need kitchen and bath remodels. It is a great place to live and to raise a family however. There is a pocket of newer (1950's) homes around 96th and Bell that probably don't need as much work as the 1920's vintage homes in the rest of the area. If I were buying down there I'd give Nancy Hotchkiss with Prudential Biros a call. She knows the area well and has worked in R.E. there for over 20 years.
0 votes Thank Flag Link Sat Jul 26, 2008
Dear Mike, The market for new homes is such an interesting segment and has not been given a proper evaluation by those reporting news on the housing market. For 10 or 12 years, spending for new homes gathered enough momentum to fuel a speculative boom, you've certainly seen it in East Village. We at Sussex & Reilly are still confident to build there given its excellent neighborhood amenities.
Now that you need more room ,and schools come into the picture, you may want a new perspective, which depends on a volatile market for construction and, as importantly, mortgage finance. Your asset mix seems to work on a relative price point view.
Let me offer a new perspective, a bird's eye view. Google Earth to 412 East Austin, Libertyville , Illinois and you will zoom in to about 3200' . You will see the interesection of the major roads and can begin to fly around and locate schools and parks. Zzoom in further and you begin to see if you may walk or ride a bike to school, parks and all the other places that are important to you. This particular neighborhood is near in to trains for Chicago and has a nice flow to it. It's quite easy to have an overview of the neighborhood you will choose. Use this way and see the surroundings of places that appeal to you. You will still do a lot of driving around, but if you consider the satelite views you can save alot of effort.
Pricing is in such a state, for many reasons, depends... I use Libertyville as an example as it's around your price point and has such nice appeal for anyone in your position. As for the developers, homebuilders and their agents, let experience be your guide. Speak to a mortgage lender. If you will need to sell your current home, you may need cooperation from the seller. A cash offer shows strength and allows you more room to negotiate your deal. A transitional market has so many variables to consider, careful consideration to price and market conditions, and good use of the terms in the deal will work to your benefit. An old Chinese philospher once observed, there is a great chaos under heaven, and the situation is excellent.
Yours truly,
Chris Moran
0 votes Thank Flag Link Tue Jul 8, 2008
Oak lawn will be tough to beat as far as cost in new construction goes, but it is out there.

Oak Park/Brookfield/LaGrange areas may also be great. I also agree that Beverly is a prime choice.

Lots of transportation (Green Line CTA in Oak Park and Metra for all). Great Schools. New construction may be hard to find at a reasonable price...this will likely be the most challenging component of your search. New Construction close to the city is rare and therefore, costly. If new is a must, you might want to consider a townhome in the collar suburbs.

Good Luck
0 votes Thank Flag Link Mon Jul 7, 2008

You should also look in the Beverly neighborhood. Good schools, Metra to downtown, close to expressway and affordable. I hope that helps and good luck with your search.

Web Reference: http://www.KDRchicago.com
0 votes Thank Flag Link Wed Jul 2, 2008
Hello Mike,

Other areas you might consider would be Burbank, Hickory Hills or Bridgeview. There are a few new construction homes in these suburbs for under 550K, If this is your price range.

If you need more information on any of these properties, I can email them to you.
http://www.burbankil.gov http://www.hickoryhillsil.org

-Erika Villegas
Web Reference: http://ErikaVillegas.com
0 votes Thank Flag Link Wed Jul 2, 2008
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