Oct
17
Where Are Some Good Neighborhoods In Chicago Or Its Suburbs To Rehab And Flip?
Bywill be investing in real estate in chicago area.. looking to rehab and flip properties… any areas on the rise?? including southwest and south suburbs??
4 Comments
October 17th, 2009 at 5:48 pm
Bridgeport is booming right now. Lots of condos being developed along Halsted, etc. And Pilsen is still sort of hot, but I think it’s being oversaturated right now. You might also want to look on the northwest side. Lots of old family homes and as the popular area get saturated (Lakeview, Lincoln Park, etc.) people are going to star moving out elsewhere. There are already signs of change going on around the Six Corners area (far west on Irving Park)
October 17th, 2009 at 6:02 pm
there are many every where in Chicago try the Hyde Park area though that is a very nice neighborhood with very little trouble alot of people are moving over there
October 18th, 2009 at 12:17 am
I live on the south/west side and there are tons of rehabs to be had. I would say to follow the Orange Line south/west down Archer from Halsted all the way to Midway…specifically in McKinley Park where there is a brand new Target right off of the Ashland Orange Line stop. Here are a few examples just off of chicago.craigslist.org:http://chicago.craigslist.org/chc/apa/58…http://chicago.craigslist.org/chc/apa/58…http://chicago.craigslist.org/chc/apa/58…
You’ll probably be able to find deals like that tapering off at Western. Starting at Kedzie you’re getting out of the young urban demographic, and running into more family neighborhoods where the rent is still really cheap. Kedzie being more Hispanic than Polish, Pulaski slightly more Polish than Hispanic. Pulaski is a better bet than Kedzie because there’s more development along Pulaski’s stop (Archer & Pulaski) like another new Target, and in the past few years they demolished Marzano’s Miami Bowl because it was getting too ghetto for the area.
Midway is nice but mostly single family homes, and new condos like you’ll find on the north side, the ones with the garage on the ground floor and the apartment above. It’s loaded with old Polish people.
Pilsen is actually a very nice area to do rehabs as well. My brother did a few rehabs out there, and had mostly good luck…with one, he bought a unit a little too close to the rougher section and ended up having his new tub AND watch dog stolen out of the unit.
Here’s a map of the Orange Line: http://yourcta.com/maps/rail/rail.html
The O Line is only slightly over ten years old, and the areas along the stops have really improved since then.
October 18th, 2009 at 1:00 am
Most of the ones mentioned above are already in the process and it’s too late. I would look at the Garfield Park area. There are still many great property deals East of the park around Lake and Kedzie