Home Buying in 60616>Question Details

102903, Home Buyer in Chicago, IL

Is it a good time to buy a property in the 60616 and 60653 neighborhoods?

Asked by 102903, Chicago, IL Fri Jul 13, 2007

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6
I can speak to 60616-South Loop
This neighborhood is ideal for those looking to stay close to the city, highrise condos, access to LSD, public transportation & amazing restaurants. Big box retailers are also starting to take notice like H&M & Maggianos. A good sign.

Please give me a call if you'd like to discuss more in detail.

Good luck,
Xavier Durrant
Kale Realty I 548 W Roosevelt I Chicago, IL 60607
Direct: 561.506.4776
Fax: 312.256.2025
http://durrantrealty.com/
1 vote Thank Flag Link Mon Aug 19, 2013
I own in the South Loop area. I have lived in the area for almost 6 years and it has been a very nice place to live. There has however been a tremendous amount of building in the area so there is alot of inventory so whether you are looking in The South Loop or Bronzeville, I would look hard before you leap. I think there are some incredible deals to be had now down there. Just make sure if you are looking at a condo building that it's a sound one. Look at those decs and bylaws and especially loook at the budget. Make sure they are budgeting at least 10% reserves of the yearly operating budget. Ask to see how many unit owners are delinquent in their assessments and if any specials are pending. I know of one building in the South Loop that recently passed a $6mm special assessment. On the flip side, the prices are great right now and units in my building are selling for what they were going fo 5 years ago. Great deal for buyers now, not so great for people who have to sell now but hey, that's the market. I'm in for the long haul and see improvements everyday down in that area. I rate it a buy or hold.
Web Reference: http://www.adammclain.com
0 votes Thank Flag Link Tue Apr 27, 2010
Hi I'm Marcella Cohen with American Invsco Realty. "Yes" this a Great time to buy in these areas. I live and work in the areas myself and I can tell you that there have been many Great, New and Positive Changes to the neighborhoods over the last 5 years or so. What exactly are you looking for? Single Family? 2-3 Flat? Condo?The Greystone bldgs in the Bronzeville Communtiy offer you the flexibility to live in and rent out. At the same time there have been many New Construction homes sprouting up in the area as well. I have listings in this area and also work with buyers. Working with our team you can take advantage of our Unheard of Buyer Rebates as well. For more info....Call me anytime!

Marcella Cohen
American Invsco Realty
773 606 9695
0 votes Thank Flag Link Tue Nov 3, 2009
Hi, I have been in the area since 2000 and can tell you that it has been a pleasure to watch many developments come up and create a great environment for many generations to come. I am happy to say, I have been a part of a development group to erect quite a few significant developments. The area keeps changing for the better and anyone who is buying in Chicago should consider buying in this particular zip code. Best of luck.
0 votes Thank Flag Link Wed May 7, 2008
in a single word: YES. New developments all over the place, upcoming areas.
Web Reference: http://OwnChicagoHome.com
0 votes Thank Flag Link Fri Aug 3, 2007
In my opinion, Yes! There is plenty of development activity (both residential & commercial) in these areas. The value (i.e., bang for your buck) on a price per square foot measure is hard to resist. Today's buyer has plenty of inventory to choose from (from lofts to grand single family homes), while benefiting from low interest rates. What area are you moving from?
0 votes Thank Flag Link Sat Jul 14, 2007
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