What is your opinion of the West Town neighborhood?
I'm not exactly sure about the geographic boundaries of this neighborhood, but I'm looking at condos at 1445 W Grand Ave and 2213 W. Warren, both of which I think are considered to be in West Town.
It seems like I can get a very nice, new-ish 3 bed 2 bath condo in this area for around 420k. But I looked at the Trulia market guide for West Town and it looks like market prices have actually fallen since 2002.
So, do you think this area is up and coming, or is there too much new condo development flooding the market and bringing down prices, or something else that is causing prices to stagnate? I would like to buy a 3 bed 2 bath condo near the city for around 420k, and it looks like West Town may be the best place to do it, but I don't want to buy if condos in this area aren't appreciating like in other areas (eg Wicker Park). Any advice on the West Town market would be appreciated.
Hi Corina -
i live in WestTown near Humboldt Park and love it. The Humboldt Park (east side of) is up and coming. There are a lot of more affluent young professionals moving into my neighborhood because of the potential for home value increase and the proximity it is to the beautiful park. I have a wife and daughter and feel very safe around here. the neighbors are great and the alderman in Humboldt is a strong one who looks to improve the neighborhood and community. I say go for it! it would be a wise investment.
Hi Corina. I provided a link for you to click on. Sorry for the sales pitch but it's actually very helpful. Provies a map, community information on West Town and a property snapshot of some properties for sale. I live in West Town and am a big fan. I wouldn't put much stock into what Trulia (sorry) says about appreciation figures. A local Chicago agent will be able to give you more accurate figures.
I wouldn't worry about the "up and coming" areas in this market. I'd be more interested in finding an established neighborhood that has stood the test of time. Like a Lincoln Park, Lakeview, Old Town, Bucktown, Wicker Park or West Town. West Town is a big area and there are some parts of it I would stear you away from. The place on Warren is questionable. I think in and around the place you mentioned on Grand is a better bet.
Again, click on link below and see if that helps. Like I said, I live over there and love it. Good Luck!!
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