K-Town, What can people tell me about it? (Lincoln, Irving: rent, schools)

[Chi-town Native]

Originally Posted by Aleking

IMO The gentrification pipeline looks something like this (in order or likelihood), Logan Square (nearly complete) --Pilsen--Avondale--Uptown. There is nothing else on the horizon.

Logan Square is far from complete IMO, but the Boulevards & Milwaukee ave are, and that's what will set the tone for the next decade.

[Chi-town Native]

Originally Posted by pipedreams2

Again, look at the prices and then look at the location. Wicker Park is way over priced and you can buy the same 2-flat greystone (move-in condition) 10 minutes away in Garfield Park for $45K. You'd pay $700K in WP.

If you absolutely must have a classic greystone in move-in condition I guess that could be a choice one is contemplating, but that's a false dichotomy in the big picture sense, though.

Safety - or the illusion of it - is still at the top of the list for most people.

[emathias]

Originally Posted by pipedreams2

...
This in one area that you can buy without getting a loan from the banks. Another reason why the area is hot. Ask the artist? I do agree that the city of Chicago is going downhill and the demand to live in Chicago is no longer here due to crime, corruption and bad schools. BUT if the city ever becomes a demanded place to live again, this will be a boom area. Of course investors are going off of speculation.
...

Crime is at historic lows. Schools, while not improving as quickly as some would like, are improving, corruption isn't any worse than it was 10 years ago. If anything, I think Rahm will disrupt some of the corruption, even as he molds aspects of it to his favor he seems to recognize that the aspects of corruption that create a heavy burden for the city and taxpayers need to be changed.

So "going downhill" seems like sort of an unwarranted assessment. There are lingering issues, including crime, in areas that keep prices low, as well as cultural issues. So I don't know that we can say Chicago is on a strong upswing, but I think it's not on the downswing at this point.

[Aleking]

Originally Posted by emathias

Crime is at historic lows. Schools, while not improving as quickly as some would like, are improving, corruption isn't any worse than it was 10 years ago. If anything, I think Rahm will disrupt some of the corruption, even as he molds aspects of it to his favor he seems to recognize that the aspects of corruption that create a heavy burden for the city and taxpayers need to be changed.

So "going downhill" seems like sort of an unwarranted assessment. There are lingering issues, including crime, in areas that keep prices low, as well as cultural issues. So I don't know that we can say Chicago is on a strong upswing, but I think it's not on the downswing at this point.

City-wide crime stats will probably continue to improve as the south and west sides continue to lose population. But people aren't moving to these areas anyways and the nice areas will remain out of reach for many.

The schools really aren't improving and the few locals with decent schools remain too expensive to spur a push back into the city.

I also like Rahm so far.

For me, the downswing is all about population. Bread and butter manufacturing continues to die a slow death and job creation has been limited to a handful of white collar positions, often shifted around the metro area. I just don't see where the jobs will come from to support population growth and without population growth, you don't have an increasing demand for housing and without the increasing demand for housing you won't see neighborhoods like W. Garfield Park come back.

And as has been mentioned before, even if things hold steady, W. Garfield Park is wayyyy down the list of places to improve.

[chitownperson]

Artists moved into Wicker Park in the 80s due to cheap rent, brought the "cultural" element to it, galleries followed, then yuppies, then the artist's were priced out and moved along to the next cheap area. This has happened again and again in Chicago. West loop, and now Pilsen... but one thing that's consistent is that artists don't move into complete poverty ridden ghettos. I agree with other posters that Garfield Park is wwwaaaaayyyy off in the future for any kind of up swing. Thinking it's going to happen in 3-5 years is not hopeful thinking, it's pure delusion, sorry! The west side is pretty messed up by any standards, and it's crammed full of people that are in no hurry to leave, and there are no people in a hurry to get in.

I would not buy a mansion in W. Garfield Park even if it was $1K. The size and finish of property is of little significance compared to location. The old mantra use to be "location, location, location"... the new mantra for home buying is "jobs, jobs, jobs", something Chicago doesn't have.

[Larry Siegel]

Originally Posted by Aleking

IMO The gentrification pipeline looks something like this (in order or likelihood), Logan Square (nearly complete) --Pilsen--Avondale--Uptown. There is nothing else on the horizon.

Old Irving Park is on the horizon.

West Garfield Park is beyond the horizon - no more impossible than the South Loop was, but there are only so many yuppies (and buppies and guppies) to go around, and there are still poor people, so I can't be ultra-bullish on every single neighborhood that has some nice houses.

[JanisBop22]

K-Towns within North Lawndale. A dangerous spot indeed especially if your not from around there..

[tomcho]

Originally Posted by Larry Siegel

Old Irving Park is on the horizon.

West Garfield Park is beyond the horizon - no more impossible than the South Loop was, but there are only so many yuppies (and buppies and guppies) to go around, and there are still poor people, so I can't be ultra-bullish on every single neighborhood that has some nice houses.

Old Irving isn't gentried?

[Vlajos]

Originally Posted by tomcho

Old Irving isn't gentried?

I guess it depends on what people consider gentrified. It is too me.

[tomcho]

Originally Posted by Vlajos

I guess it depends on what people consider gentrified. It is too me.

Me as well...