What is the good neighborhood to buy 1 bedroom in Chicago as investment for 5 years? Price range < 150K.

Asked by Chris, Chivago Fri Jul 25, 2008

Preferably close to transportation and safe. Thanks in advance.

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The Hagley G…, Agent, Pleasanton, CA
Fri Jul 25, 2008
I am curious as to how a Dallas Realtor can respond to a specific question from a home buyer in Chicago...then answer a question about fourplexes in Oakland....all while being licensed in Texas?
2 votes
Julia, , Chicago, IL
Wed Jul 30, 2008
As an low-rent artist, I have lived in some of these neighborhoods. Logan Square and Pilsen are kind of boring....particularly Logan Square. It has no center...no soul...Pilsen has 18th Street which I love, but it is a very one dimensional community.

Rogers Park has a nice mix of cultures (not one dimensional), the lake, the Red and Purple Lines. It has more of a mellower, greener feel to it than most places in Chicago. It has some rough pockets. I am strictly an artist and can't speak to the condition of the real estate market their in relation to the other areas in the city, no clue... Keep in mind you are spending five years of your life somewhere, not just investing.
0 votes
Thomas Hall, , Chicago, IL
Sat Jul 26, 2008
Hi Chris - while difficult in the > $150K range, I suggest Gold Coast/Sandburg Village. There are some junior 1 bedrooms that are above the $150K range, but some that are in need of updating might be closer to your price-point. While a challenge, it is not out of the question. Sandburg is convenient to the Redline as well - consistently sought-after address.

Edgewater is a great area to consider as well - incredible access to the Red Line, convenient to Lake Shore Drive - many transportation options, plus 1 bedroom units are plentiful in and around the $150K price range.

I hope that helps!
Web Reference:  http://www.thomasjhall.com
0 votes
Daniel Cullen, Other Pro, Chicago, IL
Sat Jul 26, 2008
Hi Chris,

It might be hard to find anything in that price range in Wicker Park, Bucktown, etc. The areas that were somewhat 'iffy' in the city such as Logan Sq., Pilsen, Albany Park, Garfied Park, and the like have dropped significantly in price and may be good bargains right now. I personally like Pilsen a lot but you have to try to find one of the blocks that are relatively gang-free. It is close to the Pink Line and the Blue Line. If you're looking for a well thought answer to your question you should post some more search parameters. Some of the more savvy re-litters that cruise the site could be a good resource for you. Good luck!
0 votes
Lucy Perna, Agent, Arlington Heights, IL
Sat Jul 26, 2008

I find that the main critiria you want is one that has easy access to public transportation and/or access to main expressways and walking distance to restaurants/shopping. I would think that Lakeview, Jefferson Park, Portage Park, Logan Square and Bucktown areas are all excellent areas to try and find a one bedroom condo. Especially in todays market and with an investment of at least five years will help you.

0 votes
Dallas Texas, Agent, Dallas, TN
Fri Jul 25, 2008
If you check the public transportation & PD websites should assist you in narrowing the search limits down. The states have restrictions on realtors comments for investments and where to live.
http://www.lynn911.com http://www.homes-for-sale-dallas.com
Web Reference:  http://www.lynn911.com
0 votes
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