Home Buying in Chicago>Question Details

Judyevansdaw…, Home Buyer in

what neighborhoods have best appreciation potential?

Asked by Judyevansdawson@yahoo.com, Mon Feb 25, 2013

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9
depends on the investment each property is unique on its own merits
0 votes Thank Flag Link Mon Feb 25, 2013
Judy,

No one can tell for sure what's going to happen in the future. Also, some buildings have more demand than others in the same area, therefore I wouldn't focus only in the neighborhood. My advise, buy as a long term investment in the neighborhood you really like in the building that best fits your needs.
0 votes Thank Flag Link Mon Feb 25, 2013
It really does depends on the factors mentioned by everyone below. In the city, Lincoln Park and Lake View areas are expected to return to their post crash values this year. The popular areas like these 2, River North, Loop, etc are going to be desirable for years to come so appreciation should happen in these types of areas.
0 votes Thank Flag Link Mon Feb 25, 2013
all of them.. if you buy for the market price the neighborhood will appreciate with the market..no magic..just hard work and good business practices
0 votes Thank Flag Link Mon Feb 25, 2013
Judy,

Are you looking for investment property or a place to live? I agree with some of the statements below, in general, the harder hit areas have more growth potential. Call or email me to discuss further.

Best regards,
Ivan Sagel
312.515.7823
Ivan@atproperties.com
0 votes Thank Flag Link Mon Feb 25, 2013
Judy,

I agree with my colleagues your question is a difficult question to answer. Are you talking about single family home, two flat, or condo? Some of the hardest hit areas such a Edgewater Belmoral, Rogers Park just to name two depending on the type of property you are looking to purchase I feel have good potential.
0 votes Thank Flag Link Mon Feb 25, 2013
As Philip suggested, if you are looking for total %age return then you may want to focus on the areas that have been hardest hit. These areas may have higher potential return.
0 votes Thank Flag Link Mon Feb 25, 2013
Its all relative to a particular location. Suburbs v downtown. Area in the downtown v others, etc. It depends which location, then what type of property, etc.
0 votes Thank Flag Link Mon Feb 25, 2013
That is hard to calculate because there are too many possible variables. You might say the areas that got hit the hardest might have the greatest increases based on a %, but is that all you care about?
0 votes Thank Flag Link Mon Feb 25, 2013
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