Home Buying in Loop>Question Details

Pora, Home Buyer in Loop, Chicago, IL

Working in chicago downtown, planning to invest in 2 bd/2bth vs townhome, where 2 invest downtwn or suburbs ?

Asked by Pora, Loop, Chicago, IL Wed Jun 10, 2009

Concern -good appreciation so that it is profitable on selling ,as may keep it for 4-5 yrs or easy to rent.which area is best to invest in chicago inthis current market.

Help the community by answering this question:


I can help you, Pora. I have an awesome email program that I can put you on if you are approved. Are you working with a Realtor? Are you approved? If not, I can get you approved for FREE, over the phone too! I have lenders who are GREAT! They have low closing costs, competetive prices and will return your calls. As soon as you are approved, I will set up that email program and then you can decide and compare if the city or suburbs is what you want. You will be able to check out assessments, taxes and even see photos or virtual tours. The best thing is that this email program is AVAILABLE homes that fit your criteria. If you are a first time home buyer, you will qualify for the $8000 FREE money that the government is giving but that has to be done before December 1st. The $8000 does not have to be repaid as long as you stay in the home 3 years. If you sell before the 3 years then you do have to repay it. If the townhome you like is FHA approved you will only need 3.5% down and I am very good at getting the seller to pay the closing costs, with creative financing. With FHA the 3.5% can be gifted, so all you will need is $1500 and I can get you into your home.

Feel free to call my cell, 708-533-0515, or email me at trulia@CarmensHomes.com with any questions. I look forward to hearing from you.

Carmen Keslin E-Pro
ReMax 10 In the Park
Web Reference: http://www.CarmensHomes.com
2 votes Thank Flag Link Thu Jun 11, 2009
It depends on if you drive or take a train, and also you will get a lot more bells and whistles for your money in the suburbs. The taxes in Dupage county are considerably less than the city, property-wise and purchase-wise.. With Chicago trying to get the Olympics I have a lot of clients leaving the city because of the tremendous tax hikes to cover the costs of the Olympics. The suburbs also have more of a family setting if you have children, and better rated schools. Less crime too.
Web Reference: http://chuckstuparits.com
1 vote Thank Flag Link Thu Jun 11, 2009
If you are looking to rent your property in 4-5 years, then buy in the Loop. You could even rent it furnished and attract the corporate relocation market going forward.

Also there is something to be said for getting to work in under 20 minutes door to door.
0 votes Thank Flag Link Sat Jul 28, 2012
There are currently great values both in the city and in the suburbs. If you are considering this purchase as an investment, depending on the specific neighborhood, a 2BR/2B would not be hard to rent out. Lincoln Park, Bucktown, Wicker Park, Lakeview, Streeterville, River West and River North, Gold Coast, University Village, Andersonville and Lincoln Square are all areas where there’s ton’s of interest currently, and these areas are probably the most stable in the city. Don’t forget that stable is a relative term in this market…

If you’re trying to get a decent ROI, I would suggest you hold on to it for at least 5 years, until inventories of Short sales and Foreclosures come down and the market calms down.
Web Reference: http://www.dreamtown.com
0 votes Thank Flag Link Mon Jan 3, 2011
Making home buying process in chicago easier.helpful for home loans, first time home buyer ,mortgage calculators, mls, chicago real estate and other renting vs buying issues.just go on http://www.confidenthomebuyer.com home just a click away.
0 votes Thank Flag Link Tue Dec 28, 2010
Riverside,IL is a suburban gem. There are a few 2br/2 bath condos available that are walking distance to the Metra. The ride is only 15 minutes. The suburb is very close to the malls and grocery shopping. Also, it's a really close to I-55 or I-290. The schools are great too!
0 votes Thank Flag Link Mon Jun 15, 2009
Like I told you before, email me your criteria, trulia@CarmensHomes.com and I will set you up. You can decide then yourself what looks like a better investment, the city or the suburbs. You have nothing to lose.

I look forward to hearing from you,

Carmen Keslin E-Pro
Remax 10 In the Park
Web Reference: http://www.CarmensHomes.com
0 votes Thank Flag Link Mon Jun 15, 2009
More suggestions are welcome....
0 votes Thank Flag Link Thu Jun 11, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Home > Illinois > Cook County > Chicago > Loop > Home Buying in Loop > Question
Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer