Posted by Mark-IL on January 18, 2005 at 09:06:37:
Love 'em! Along with Romeoville and Aurora. Naperville had its huge runup and now these areas have been next in line in the wave outward, as evidenced by all the brand new SFH and TH developments.
Great opportunities in general and lots of foreclosure prospects in particular, even with homes built only in the past couple of years.
Just my humble opinion,
Mark
Chicago hot neighborhoods - Posted by ND
Posted by ND on January 17, 2005 at 13:06:01:
Hi,
I am looking to buy a new construction townhouse in one of the Chicago upcoming neighborhoods, such as Irving Park, Albany Park, Logan Square, or any other area that might look like a potentially good investment (I am planning to hold the property for 3-5 years). Are there any rules on how to pinpoint an area with the largest potential? How about places to avoid?
Thank you
Re: Chicago hot neighborhoods - Posted by Mark-IL
Posted by Mark-IL on January 17, 2005 at 19:09:03:
ND,
I have plenty of experience in the Chicago market, both as a Realtor and investor. A couple of ways to pinpoint potentially upcoming areas here are looking for those with nicer buildings (if not the inhabitants right now) and those near transportation, either bus/el routes or espressways. You’ll notice areas like Logan Square and now Humboldt Park, even when horrible, had great brick & greystone buildings and convenient transportation, and have improved dramatically. Same for Albany Park (Blue Line, Metra, the Kennedy) and even Uptown (Red Line, Sheridan buses, the Lake…).
Most of the north side is pretty safe, investmentwise. The one thing to concern yourself with is if the market slows, the 1st areas to take a hit are those in which you’re still a pioneer, like some parts of Uptown, Humboldt Park and near the United Center.
If you need help, let me know.
Mark
Re: Chicago hot neighborhoods - Posted by rachel
Posted by rachel on January 17, 2005 at 22:20:17:
Mark,
What about western suburb of Chicago, like Bolingbrook, Plainfield etc?
Rachel