444wfullerton, Both Buyer and Seller in Lincoln Park, Chicago,...

Edgewater a good place to invest / live in for the next 10 years? Is there anywhere (aside from visiting) that I can do research on the neighborhood?

Asked by 444wfullerton, Lincoln Park, Chicago, IL Mon Apr 2, 2012

I'm looking at a place near Thorndale and Broadway; and while I feel very safe there I've heard some negative things about the El stop and Edgewater in general. I know you can not comment; but are there any good tools to use for research when looking at a neighborhood (besides Trulia and visiting?)

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12
I wanted to re-iterate Kerry's suggestion for :

http://chicago.everyblock.com/crime/

and even their main page :

http://chicago.everyblock.com/

Good luck with your Edgewater search and let me know if I can be of further assistance.
0 votes Thank Flag Link Sat Apr 14, 2012
Check with the local neighborhood association, you may even want to attend a meeting. Crime is everywhere, therefore I would keep in mind the number one rule in real estate..Location!

If you're talking about affordability and appreciation, honestly no one can predict the future to tell you what the value will be in 10 years. Buy what you can afford in the location you feel safe, and pay off your mortgage!

Good luck!

Jose Hernandez, sfr
Coldwell Banker
312-788-7079
0 votes Thank Flag Link Wed Apr 4, 2012
Hi,

I suggest that you have an agent do a market analysis of housing prices over the past few years and trends. You will see what direction the market is headed in Edgewater and what values are. A lot of the sites you look on have in accurate information since property values can fluctuate from street to street/ block to block.




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0 votes Thank Flag Link Wed Apr 4, 2012
Neighbors in Chicago are always a great tool for figuring out what is going on. If a resident isn't keen on their neighborhood, they'll speak up, and they'll also brag about the little details you might not notice when you are visiting for 15 minutes.

This is probably one of the more approachable large cities in the world. Look for people walking their dogs, strolling down the sidewalk, in a nearby park, sitting on their stoop, and pipe up, "hey, I am thinking of moving to the area and wanted to get your honest opinion on the good, bad, and ugly."

Gather an assortment of at least five random opinions, combined with your own vibe of the area, and you will have the best possible assessment without actually living there.

Otherwise, sublet a place for a couple of months to make sure if you are still concerned. The small sublet investment will pay off in mental stability.
0 votes Thank Flag Link Tue Apr 3, 2012
I think Edgewater has a lot of potential for property value growth, but for right now, it seems to be falling a little more rapidly than others.

When it comes to whats a good area or bad area to live, as you stated, we cant comment on that. However, check out chicago crime by block .com.
0 votes Thank Flag Link Mon Apr 2, 2012
Hello,

Try city-data.com or chicago.everyblock.com. There you can find what you're looking for.

That said the best way to research a neighborhood is by visiting it during different times of the day different days of the week.

Most El stops in Chicago have one issue or another, it just seems to be an inherint part of of the El.

Good luck!
0 votes Thank Flag Link Mon Apr 2, 2012
Drive It
Walk It
Bike It
Visit It
Talk to people in It
Speak to a Realtor about It (in order to provide accurate data)
Check out Police info on It: https://portal.chicagopolice.org/portal/page/portal/ClearPat…

Prices have come down - it may be a very good value play into the future.
0 votes Thank Flag Link Mon Apr 2, 2012
I am a big fan of Everyblock Chicago. Lots of good neighborhood information available there. Here is the link.
http://chicago.everyblock.com/
0 votes Thank Flag Link Mon Apr 2, 2012
If you're talking about investment, you need to know the numbers. Talk is cheap, but the numbers are a lot more articulate than anything. In Edgewater single family homes went down -32.6% in median sales price in the last year, and condos a -30.9%. A pretty steep decline if you ask me. Comparing it to next door, Lincoln Square where single family homes declined -5.1% and condos -11.0%.
If you want to make the most important investment of your life knowing where it would bring you a better return or appreciation, give me a call. 773 865-5678.
0 votes Thank Flag Link Mon Apr 2, 2012
444.

Edgewater is like most neighborhoods - your have your advocates and your detractors. And both sides likely have a degree of subjective infusion with respect to their sentiments. My wife and I live in Edgewater. We have owned a building here for more than a decade. The sweet spot of the neighborhood is west of Broadway, east of Clark, north of Ridge and south of Devon. The area east of Broadway is more heavily congested - larger buildings, more people, parking is much more challenging. West of Clark is not as congested as east of Broadway but it is further from the el, from the lake and does not feature the tree-lined streets of the "sweet spot."

I am unsure what type of home you seek. I think Edgewater provides strong value to buyers on three fronts - single families, multi units and condos. In fact I think single family options in Edgewater are among the truest values for buyers in comparison to the entire city. School options include what many denizens regard as the emerging Peirce Elementary and nearby private options include Northside Catholic Academy, Sacred Heart and Rogers Park Montessori. Our five and six year old sons attend Baker Demonstration School, a 15-minute drive near the B'hai Temple.

I think a reasonable means of gaining a sense for yourself of the neighborhood is to visit local businesses, see the people who live here and chat with them. A great place to accomplish this is one of our favorite places, Lickety Split, an off the rail sweets shop at Glenlake and Broadway. Metropolis Coffee on Granville is a great place to grab a latte for the journey and Indie a zagat-rated Thai Sushi eatery that has awesome rolls.

Personally I perceive Edgewater as a go-to place for the housing I mention above. Values are great and there is a convivial sense of place. And trick or treating is great on Hood and Glenlake.

Feel free to contact me directly with additional questions - tom.mccarey@atproperties.com.

Cheers!

Tom McCarey
Broker Associate
The Real Estate Lounge Chicago with @properties
Award Winning Broker Annually since 2002
More than $160M is Personally Negotiated Sales

c . 773.848.9241

http://therealestateloungechicago.com
0 votes Thank Flag Link Mon Apr 2, 2012
get off the computer and get on your bike..if your going to invest money go to the neighborhood and walk around, go to the grocery store.. they they are in fully glory..your neighbors..go to the el stop and stand there for 3-4 trains on thursday morning, thursday night , friday night.. ride you bike around at 6, 8 and 11 pm 2 of 3 nights, go to a coffee shop, go to a resturant ask a cop you see in the hood...DO YOUR OWN RESEARCH! in 1 week you will know everything there is to know
0 votes Thank Flag Link Mon Apr 2, 2012
I would think that just about all neighborhoods would be fine to 'invest' in if you have a 10 year time frame. Most people only have about a 4-5 year time frame and with the market we have been having that might not be long enough. You can contact the police department for crime statistics, but speak with friends/family/co workers to see what they say about any given area.
0 votes Thank Flag Link Mon Apr 2, 2012
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