Home Buying in Uptown>Question Details

Tepps, Home Buyer in Uptown, Chicago, IL

Is Sheridan Park a good place for real estate investment? We are looking to hold onto it for 5 years.

Asked by Tepps, Uptown, Chicago, IL Sat Apr 2, 2011

- We found a one bedroom condo for around 80,000
- It is on the western edge of Shardian Park
- It is small probably about 750 square feet

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Answers

2
Buy Cheap To Rent’s answer
I would not listen to a home inspector of all people they also added to the inflated pricing. Plus he seemed sorta like an ass toward your question but he is probably stresses cuz his easy ride is over. Hopefully someone that lived there will answer. Lastly, be careful for realtors as well they also contributed to the housing demise and some are sneaky like car salespeople! Hope rhea helps and those of you feeling like attacking me feel free. Just shows that I am right if you jump on me. Also check out buy owner, craigslist and banks that hold the loan you can del with them directly instead of the BS plus save money a property transaction really isn't that hard.
0 votes Thank Flag Link Mon Apr 4, 2011
Who knows. Your question doesn't have enough information to make any kind of relevant assessment. 80K might be Ok. Investment meaning you'll rent it out? In 5 years it might be worth a few dollars more, I doubt it will double or anything close. Is it closer to Montrose or Lawrence, south is better. Closer to Broadway or Clark? Could go either way. Is there anything appealing about the place other than the price, would you live there? If you can't answer YES to those questions, why would someone else?
Values and sales are too iffy with all the gray housing stock still hiding in the closet. 5 years will probably be better but I doubt you'll make a mint. Banks are operating on 7-10 year plans right now in terms of housing coming back.
Web Reference: http://www.aic-chicago.com
0 votes Thank Flag Link Mon Apr 4, 2011
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