CHICAGO | General Discussions

[marothisu]

Originally Posted by bcp

Good points - there are some gentrifying areas (we live in Pilsen) that can have school improvements and safety improvements that progress the way NYC does (fast). But the worst area here are worse and slower than NYC to improve on average income / schools / safety. It's an infrastructure issue - swaths of vacant land, dilapidated main streets, few businesses / jobs, busted sidewalks, and more that make (unfortunately) some of the areas close to transit, near the lake, with parks, and with old housing stock are probably the very slowest to improve. You've got to be a serious urban adventurist to move to 63rd and Vernon:
https://www.google.com/maps/place/S+...!4d-87.6144212

Yeah that's for sure. I'm actually interested to see what happens in some areas like Auburn Gresham. Lately there's been a surge in developers buying old homes, usually for pretty cheap and renovating into something pretty decent. These sell anywhere from $225K to $300K. Many of these have gone above their sale price too. Some of these houses are over 2000 sq ft too. Now you don't have to be rich to buy a $250K place but with kids, saving, etc you do. It just seems like low level "gentrification "..I out that in quotes because it's not like a bunch of $600K+ properties being built in Bronzeville or Woodlawn, but this is almost more interesting that seems to not get much press at all. Other areas I've noticed with this are Roseland, South Shore, Chatham, GGC...but there is a bit of a concentration I noticed in Auburb Gresham. Really interested to see what the outcome of this will be.

[galleyfox]

Originally Posted by marothisu

Yeah that's for sure. I'm actually interested to see what happens in some areas like Auburn Gresham. Lately there's been a surge in developers buying old homes, usually for pretty cheap and renovating into something pretty decent. These sell anywhere from $225K to $300K. Many of these have gone above their sale price too. Some of these houses are over 2000 sq ft too. Now you don't have to be rich to buy a $250K place but with kids, saving, etc you do. It just seems like low level "gentrification "..I out that in quotes because it's not like a bunch of $600K+ properties being built in Bronzeville or Woodlawn, but this is almost more interesting that seems to not get much press at all. Other areas I've noticed with this are Roseland, South Shore, Chatham, GGC...but there is a bit of a concentration I noticed in Auburb Gresham. Really interested to see what the outcome of this will be.

Funny you should say that.

I just bought a $230K house by Eckersall Park for my family. No children yet, but my father and grandmother are moving in from South FL. These are the only neighborhoods in the city where you can find nice renovated large single family homes for an affordable price with reasonably safe streets.

The Obama Presidential Library, the large brick houses, and lakeshore and CTA access were the main factors that tipped the scales in favor of taking a gamble on the neighborhood.

[marothisu]

Originally Posted by galleyfox

Funny you should say that.

I just bought a $230K house by Eckersall Park for my family. No children yet, but my father and grandmother are moving in from South FL. These are the only neighborhoods in the city where you can find nice renovated large single family homes for an affordable price with reasonably safe streets.

The Obama Presidential Library, the large brick houses, and lakeshore and CTA access were the main factors that tipped the scales in favor of taking a gamble on the neighborhood.

Very interesting and good to know. What are the factors that led you to that area? I'm really interested in general regarding crimes gentrification, etc of various South side areas. I know crime for example can be block or blocks by blocks. I have a friend who moved from Hyde Park to Chatham for example and it's interesting hearing some things.

Some of the SFH in the whole area though have been remodeled pretty nicely for real. Like not going to win awards buy still pretty nice inside. I appreciate people are doing this, especially not tearing down. Ultimately that keeps things a little more affordable too. AG is set to get a few sizable commercial corridor projects on 79th soon. I think one even scored a permit lately. Will be interesting to watch... I'd love to hear your thoughts.

Also I saw an article about a few groups on the west side making some affordable SFH in areas like North Lawndale. They want to build 1000 of them. There are some income requirements for it, something like no more than $50K combined household income. My guess is it has to be a range between say $35K and $50K. They just broke ground on their first few in the 1600 block of S Avers in North Lawndale on vacant land.