Except for a brief blip in speculative activity earlier in this decade, East Garfield park has been in a long, sustained decline that's unlikely to change much in the foreseeable future.

If you're looking at it for speculative reasons, just forget it.

If you're looking for some of the few blocks that remain attractive and affordable for a long-term place to live, go for it. That's assuming schools aren't a factor in your decision, since the schools in the area are terminally bad.

Hi John,

You've asked a question that I've heard time and time again. I guess it depends on exactly what area you are talking about. Many people have called certain parts of Garfield Park "East" when they are really not. Assuming you are not doing this I'll give you my thoughts.

I looked to invest in property over there during the boom. I remember lots selling for 200k that were no more than 25 wide, if that on Warren Blvd and Washington, etc. I remember gutted stones selling for 250, in some cases over 300 if they were large enough. We won't see those prices for over a decade.

I think what needs to happen to sustain prices in East Garfield Park are a few things.

Developers have to rent out their condos, pull them off the market. That simple. This will drive some minor retail along your main strips, Warren, Washington, Madison, etc.

Do I see it happening soon? Will prices continue to decline? I think prices will decline slightly more in the area as I believe there are still several developers that will default or will be forced to auction or liquidate. This will drive down comps for sure, however, this is what needs to happen. It has to get slightly worse before it gets better. However, I think the major declines for the area have already occured and the area is on the "home stretch" of price declines.

I see you are a property manager in the area. Do own only residential or retail. I know a developer in the area that has had one difficult time moving his commercial space, he practically can't give it away. He is right off of western.