Buying a house in Irving Park by Addision blue line stop. Good Area?

[Drover]

Originally Posted by DonOso

This is not a good area. There's still significant gang activity. You have Netas, Latin Kings and others.

Yes you also have yuppies and middle class, but only because they don't have better options. Property values started cratering in 2009, when folks started moving to the more established areas (when prices dropped in those areas).

Improving area, but I would take a pass. Stick to established North Side areas (esp. south of Belmont and east of Western).

Pfft.

[Chi-town Native]

Originally Posted by ChiCityChiCity

I'm considering making an offer on this live in investment property in Irving Park right by the Addision Blue Line stop. It's really close to the John Murphy Elementary school and Independence Park.

What can you guys tell me about the area in term of renting, ethnic groups, gentrification, future real estate value and accessibility to nightlife, restaurants, entertainments ... ?

Thank you

I'll just say the Independence Park farmers' market Sunday was jam-packed, very nice area IMO.

[ChiCityChiCity]

Originally Posted by DonOso

This is not a good area. There's still significant gang activity. You have Netas, Latin Kings and others.

Yes you also have yuppies and middle class, but only because they don't have better options. Property values started cratering in 2009, when folks started moving to the more established areas (when prices dropped in those areas).

Improving area, but I would take a pass. Stick to established North Side areas (esp. south of Belmont and east of Western).

May be you were talking about Avondale area. Western Avondale is pretty ghetto. I'd love to buy a property near lincoln park, lake view, north center but they are too expensive and can not generate cashflow.

I'm curious based on what facts, you stated your opinions about the area that way?

[ChiCityChiCity]

Originally Posted by Drover

Yes.


$1400 may be a bit of a stretch unless it's in really nice condition with all the latest updates and central A/C and what-not. It's a nice quiet neighborhood but it's not quite an "in-demand" neighborhood. It's not a totally unrealistic asking price so the worst you can do is start advertising it at $1400, and if you don't get any bites, lower the asking price incrementally until you do. The housing stock is a solid mix of owner-occupied homes and rental stock (two- and three-flats with the occasional 6-unit building here and there) so the area is on the rental-market radar.

When you said not quite an "in-demand", did you mean it would be difficult to rent out a floor that is really nice with big sunny rooms and a lot of windows but no latest and greatest updates, just regular rental quality deco, gas heat, no central air?

[Chi-town Native]

Originally Posted by ChiCityChiCity

May be you were talking about Avondale area. Western Avondale is pretty ghetto.

Do you really think Kozy's would open its largest bike "supercenter" in the ghetto?

They started in LV and LP, so I think they know the score.

[Chicagoist123]

Originally Posted by ChiCityChiCity

May be you were talking about Avondale area. Western Avondale is pretty ghetto. I'd love to buy a property near lincoln park, lake view, north center but they are too expensive and can not generate cashflow.

I'm curious based on what facts, you stated your opinions about the area that way?

West Avondale ghetto? Uhm no. Shady, gritty, ugly, are words that could work, but ghetto is not one of them. If you think Avondale is ghetto, then you have never really been to a ghetto.

Austin, now that is truly a ghetto. Avondale looks like kindergarten compared to Austin.

[MassVt]

Originally Posted by Chicagoist123

West Avondale ghetto? Uhm no. Shady, gritty, ugly, are words that could work, but ghetto is not one of them. If you think Avondale is ghetto, then you have never really been to a ghetto.

Austin, now that is truly a ghetto. Avondale looks like kindergarten compared to Austin.

I've got a PBS dvd about Chicago's neighborhoods, which was filmed as basically a tour around the city using the subway lines. The narrator described Austin as " middle-class"; this DVD was also made around 2003-2005. Was he being kind, or has it declined that much over 5-7 years?

I should also mention that this DVD made no mention of Englewood, and brushed over the South Side pretty quickly ( outside of Chatham and the old Stockyards/Bridgeport, etc..

[rparz]

I would call Avondale working class Mexican, long long before I'd call it ghetto.

Unless you're moving into the area and getting in the drug business, you'll probabaly be left alone.

[Chicagoist123]

Originally Posted by rparz

I would call Avondale working class Mexican, long long before I'd call it ghetto.

Unless you're moving into the area and getting in the drug business, you'll probabaly be left alone.

I think that rings more true west of the expressway. East of the Kennedy, it can get pretty white and Puerto Rican with Mexican mixed in. The eastern portion of Avondale mimics more eastern Logan Square while the western portion does not. That's what's so nice about neighborhoods, even within them they offer different experiences.