Donald Trump, Both Buyer and Seller in Chicago, IL

Bucktown - What's your opinion on the market?

Asked by Donald Trump, Chicago, IL Wed Aug 29, 2007

I'm hearing a lot about Bucktown / Wicker Park. I'm looking to start investing in similar areas like it. But my concerns are transportation to and from work in Bucktown. Also, are there any major employment there? How is the new alderman doing, in your opinion? I usually hear that it is "an artist" type of place. This is not starving artist only? And I noticed a lot about the nightlife is growing, so that would mean to mean that a younger generation will be living mostly in Bucktown. You think?

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5
Scott Newman’s answer
Bucktown/Wicker Park is one of the most solid properties in the country. I just did a day long financial analysis of the entire area I used for a client's curiosity and several articles/blogs I've written about the topic. The area is up about 20% over the last 5 years and actually jumped about 12%- more than half- in the last 18 months. It's a great time to buy in that area. The starving artist, fringe area status is gone. You can walk up and down Division or Damen and buy $300 pairs of jeans and $2,000 day-spa packages- if that's not a sign of the times i don't know what it is. In short, the area is doing tremendous. It's definitely become a destination and is one of the most popular areas right now in the city.
0 votes Thank Flag Link Sun Nov 23, 2008
I have lived and sold real estate in the Bucktown area for fifteen years and have watched huge growth in home starts, retail, parks and schools. Bucktown is still home to many artists but has opened the doors to young professionals and families who would like to stay in the city. Bucktown just got a great new library on Milwaukee Avenue. It is truly a walking neighborhood where you can get your morning coffee, drop off dry cleaning, pick up groceries all within a short distance of home. The restaurant, bar and shopping scene are second to none. Concierges at the downtown hotels often send their guests to Bucktown for the flavor of a great neighborhood. It is easily accessible by train(ten minutes to downtown and 55 minutes to O'Hare) and the expressway. My husband and I plan to raise our five year old in the neighborhood. We are sending him to a public school on Wabansia and Ashland which has a strong parent involvement as well as a wonderful principal and teachers. The name is Jonathan Burr Japanese World Language School. We are very pleased to have the option of taking advantage of tax dollars while receiving quality education. My son has many friends in the neighborhood who are within blocks of our home. Bucktown feels like a close knit community where people socialize with their neighbors and are able to take advantage of all it has to offer.
0 votes Thank Flag Link Sun Nov 23, 2008
See my recent blog post on Wicker Park for some great custom data on the neighborhood and what's going on there. Prices are skyrocketing in this market- it's unreal!
0 votes Thank Flag Link Thu Nov 20, 2008
Bucktown/Wicker Park is exploding right now! The vast majority of my clients who originally thought they wanted to live in the Near North area are "taking a peek" out that way and ending up staying. The price points are better, there are enough bars, restaurants, shops, and stores to keep you occupied for several lifetimes, and with the blue line right there getting downtown is not much a challenge at all.

If you're looking to invest, I'd personally push out your search slightly to surrounding areas slightly south and west to maximize your dollars and long-term return potential. Bucktown/Wicker Park is no longer an "artist" community but is in fact a thriving area that is attracting national attention- the bar 50/50 was mentioned in GQ recently for instance for giving free booze to ex Lehman and Merrill Lynch employees.
0 votes Thank Flag Link Mon Oct 20, 2008
Tim,
There's too much to list about what's going on in the neighborhood. There's a good mix of people with many young families moving into the area along with younger couples and singles. Division street has seen a recent increase in new nightlife in addition to what has been there for a number of years. Transportation options are available with the Blue Line El at Division and Ashland and the Milwaukee/Damen stop. All-in-all a good location to invest in as the area continues to grow over the long term. It remains to be seen how the Alderman handles new construction and the issues associated with gentrification, specifically the impact on the artistic community.
Web Reference: http://www.KDRchicago.com
0 votes Thank Flag Link Wed Aug 29, 2007
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