Chicago Real Estate

Because it is expected that rent will see a fairly dramatic increase in the next couple of years, it is a great time to consider purchasing a townhome or condo. Ideal places to consider are the West Loop and the South Loop as these areas are undergoing a huge construction boom. If the South Loop and the West Loop are not ideal areas for you, Chicago real estate professionals are also suggesting that home-buyers consider purchasing homes in areas that are “on the rise” instead of purchasing homes in more well-established areas. One area that agents often suggest to clients who are looking to spend just a little less, but see a return on their investment in several years is the once flourishing community of Bronzeville. Bronzeville flourished from the 40s to the 60s, and then gradually became one of Chicago’s most poor, low-income neighborhoods. However, in recent years, Bronzeville has begun to experience a revitalization, often referred to by many as the Bronzeville Renaissance. Now, the once poor, inner city neighborhood is seeing a flourish of condos, single family homes, and lofts. What makes the area even more of a draw is that the neighborhood caters to a variety of price ranges. There is something in the area for the middle-income home buyer all the way up to those searching for luxury priced homes. Another great place for home buyers to consider is Edgewater. Once a popular getaway spot for celebrities, the Lake Michigan community of Edgewater is now a popular area for numerous income levels. In fact, not long ago, the Fannie Mae Foundation named Edgewater as one of 10 urban communities in the United States that is “just right for affordable home ownership.” There are condos that begin in the low 90s and single family homes that go up to about $470,000.00. So, the community is a wonderful mixed income area. The community has great schools, nice playgrounds, and numerous restaurants and nightlife spots. In addition, Edgewater is just a short commute to the Loop. So, Chicago has something to offer for every homeowner’s budget. There are wonderful, new condo constructions where builders are offering excellent incentives for home buyers such as plasma televisions and free upgrades. And there are also the up and coming neighborhoods of Chicago real estate that cater to a variety of income levels. Whatever your preference – Chicago is certainly one city that has much to offer!

Team IllinoisRealEstate.com

Brian Nygard
RE/MAX Grand
Direct: (312) 217-8002
Timely Email: brian@illinoisrealestate.com

Scott Epstein
RE/MAX Grand
Direct: (312) 622-6313
Timely Email: scott@illinoisrealestate.com