Highland Park Townhouse (Arthur, St. Johns: for rent, condo, buyers)

[mmouse3003]

Hello all,

We are a professional couple in our late 20's and absolutely love Highland Park! Unfortunately, in our price range (<400K)we can only afford some serious SF fixers... Recenlty we came across a listing for a 3-bedroom townhome near downtown HP (on Central Av.) that falls into our price range. What is the general consensus on townhomes in HP? What are the Pro's and Con's? How often does the Metra run, and is it a big noise problem?

Thank you very much.

[Paige65]

i don't know if there is a general consensus on townhome's in HP. The Metra runs about every hour, more than that from about 6:00 to 8:30 a.m. and same in the evening from about 4:30 to 7:30. I'm assuming the place is east on Central if you are concerned about Metra noise. I wouldn't worry much about that. I live a couple of blocks from a Metra stop and don't even notice the train noise.

If you are talking resale, I think it would be easier with a SF home. With a $400,000 budget, you should be able to find some not so serious fixer uppers in Sherwood Forest (area west of Central across from Jewel), Sunset Park (area west of Green Bay, behind Post Office/Sunset Foods) or Ravinia (area east of Green Bay, near Roger williams and St. Johns Avenue). Though they will probably be smaller than the townhouse you are looking at. 2 bedrooms, possibly 3.

I wouldn't worry too much about noise. Even if it's right downtown on Central, businesses and restaurants aren't open that late, except for Friday nights.

[mmouse3003]

Thank you for your reply. Also, I noticed that the property tax on the townhome is about 1/2 of that of a similarly priced SFH. How are taxes in HP (or Lake county in general) assessed?

[chet everett]

The assessment OUGHT to be the same regardless of whether you are considering a SFD, townhouse or condo -- should be based on the "market value". The fact is that often things get out of whack. Depending upon what sort of exemptions are in place the current owner may be paying far less than you would as a new buyer. Perhaps they were very long term residents. Perhaps they had the 'senior exemption'. Perhaps their income was so low that additional exemptions kicked-in... Those exemptions should be noted by the realtor, though you can get that info directly from the Assessor's office with the Parcel ID Number.

If SFD homes with a similar selling price are paying much more in taxes, assume you would be too...

If the whole complex is older you need to give some serious consideration to the assesment situation and the overall level of marketability that such a property might have. Further, even if the property was built in same the 90's it is entirely possible that the original selling price was a fraction what they are asking today -- may have attracted a very different group of buyers back then compared to now...

[dvdmovie1]

If you want to rent a townhouse for a while, you can look into these (click the link and you'll go to a description of the property)

Arthur Goldner & Associates, Inc.

I've seen this property, and it's not only quite nice for the price (open feel + nice kitchen + 1.5BA), but it's in an absolutely outstanding location in downtown Highland Park.

You could rent here for a couple of years while saving up for another place in HP.

[mmouse3003]

Thanks for all the info. Would anyone else know of nice and quiet 2+ bedroom places for rent in Highland Park?