Home Buying in 60615>Question Details

Mecole, Home Buyer in Hyde Park, UT

Is buying a Condo in Hyde Park, IL a good idea?. I am a first time home buyer wanting to purchase a condo for

Asked by Mecole, Hyde Park, UT Tue Mar 4, 2008

under $150,000.I was looking at Newport Condos and wanted to know if that was a goof idea. I notice that Hyde Park is a good area, but if you go to far west the neighborhood changes. Please help with finding my first home.

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Any home purchase is a good idea, whether you are in Hyde Park or West of Hyde Park, it is a good idea. If that is the home for your, purchase it and enjoy. Hyde Park has a lot of features such as walking distance to stores, restaurants, and novelty shops.
0 votes Thank Flag Link Fri Nov 9, 2012
You can't go wrong living in Hyde Park, especially in the price range you are searching, and yes, there are condos for that price. But if you are anti-Obama, or anti-free market economics, or enjoy a lot of bars then Hyde Park might not be a good place.
0 votes Thank Flag Link Thu Jun 23, 2011
Hi/??
Did u end up buying a condo at the Newport?
what do u think about access and safety to take public transportation, and proximity to U of C, access to metra to dowtown, amenities, parking options, etc.
thanks
0 votes Thank Flag Link Wed Jun 15, 2011
That is a great idea. The values are steady even though there are a lot of properties on the market. And if you are looking to purchase something under $150,000 you may qualify for down payment assistance. Many census tracts in 60615 and 60653 are in the target areas that makeit a little easier to qualify for assistance. This is a great time to buy. Sellers are motivated and rates are good (but you need decent credit).

Have you been pre approved for a mortgage? If so what kind. The property also need to be approved as well as the buyer. Condos can be tricky. New conversion have special quidelines. FHA requires the property to be on the approved list.

Finally, your realtor and lender can make this a great investment for you. Choose your team wisely.
0 votes Thank Flag Link Tue Sep 9, 2008
I don't know if you are still looking to buy a condo in Hyde Park or not. If so, I have a condo for sale at $169k. It's not too far from your price range. The condo is at 57th and Stony Island, in East Hyde Park by the lake, the museum and transportation.
If you are interested, send me an e-mail at graceiliu@yahoo.com
0 votes Thank Flag Link Tue Sep 9, 2008
The Newport is a great building. As an appraiser I have appraised many dozens of units in the building. If you are buying why not get a rebate? On a $150,000 sale you could get up to $1350 cash back at closing - just for calling. Interested? PM me.
0 votes Thank Flag Link Thu Mar 13, 2008
Hi, I am a condo inspector who has done some work in that building and area. My advice would be to do as much research as possible before you buy. Of course, I would advise you have the unit inspected to check for water damage, appliances, plumbing, etc.

When I was checking the building, I came across this listing on Craigslist. I have no connection to this person, just thought I would pass it along. Send me a note if I can help you with the inspection.

This is an elegant and sophisticated updated one bedroom condominium at The Newport, Hyde Park's only full amenity high rise building. There is a beautiful, marble kitchen with newer GE appliances and a matching marble bath with pedestal sink. This nearly 800 sq. foot apartment has custom mirrors, neutral carpet, dining room and great closet space. The Newport lifestyle offers it's own shuttle service, health club and Olympic size swimming pool (fee required), dry cleaners, receiving room, bike room, 24 hour doormen, security and maintenance and fabulous location adjacent to Lake Michigan and close to transportation. SELLER OFFERS UP TO $1000 CREDIT FOR CLOSING COSTS!
URBAN SEARCH OF CHICAGO
Deb Lewis (773) 451-5751
0 votes Thank Flag Link Wed Mar 5, 2008
Hyde Park is a great value depending on how close to the lake you are. I have spent a lot of time down there with my first-time clients, who saw everything in the South Loop but were priced out. I showed them one place in Hyde Park and they were blown away, and its very close to Lake, Metra, and Lake Shore Drive.
I could put you in touch with them as they have been there a year and could provide insight (don't worry I would let them know you would be calling).
0 votes Thank Flag Link Tue Mar 4, 2008
Mecole,

I worked at the University of Chicago Hospitals for over 5 years and every day I wish I had purchased every property that came up. You really cannot go wrong there. I wish I had someone I could refer to you, But I really don't have a good, trusted contact their. Call Joe Guli at 847-642-1015. Tell him I referred you and ask him for a contact. Good luck. Do me a favor and visit our site. If you know of anyone looking for retirement, vacation or investment property in the southeast US, give us a call.
Marian Schaffer
The Schaffer Realty Group
http://www.marianschafferrealty.com
0 votes Thank Flag Link Tue Mar 4, 2008
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