Quote:
Originally Posted by jtown,man
Condos(not in 3-flats) seem to have really high HOA fees(stunned us) so we would like a smaller building in a safe, yet not entirely gentrified hood. Of course thats at least 2 years away, so we'll see.
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There isn't a whole ton of condo inventory in "not entirely gentrified" neighborhoods. The bulk of the city's condos are concentrated in fully-gentrified neighborhoods on the North Side where property taxes and COL will be high. The last 10 years of booming growth have brought very few new condos on the market and actually removed quite a bit of condos through deconversions (see River City). Developers who sat on a bunch of inventory through the rough years either started renting out the units and making a killing, or sold to investors who are doing the same.
That being said, you should look at the area just west of United Center... new Green Line station at Damen will be opening around 2 years from now, and it still has a lot of small pre-recession condo buildings with good deals.
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