Chicago’s Real Estate Hot Spots
One of the most popular and fascinating cities in the United States, Chicago is known for a variety of things, including some of the country’s hottest real estate. Whether it’s a young family seeking a first home in which to settle down and build a life with their children, retirees looking to enjoy the various aspects of city life that only Chicago offers, or investors who want to pick up some great deals for their portfolio, it’s a sure bet all of them will have 0 chance of striking out. If you’re ready to buy, here are some of Chicago’s hottest real estate deals.
Considered one of the most dynamic neighborhoods in the city, Bridgeport has a market for single-family homes, condos, and townhouses that is unmatched. With properties here selling fast and for higher prices than other properties, buyers, as well as investors, are eager to purchase these properties. Along with these reasons, the area is popular due to its proximity to restaurants and shopping, Palmisano Park, and the Loop.
With many homes in foreclosure here, it’s viewed as a great opportunity for investors to purchase properties, fix them up, and then rent them out or flip them for a substantial profit. In fact, many homes have recently been purchased for no more than $60,000, renovated, and then sold for more than $150,000.
Located on the Northwest side of the city, Montclare is yet another neighborhood that has plenty to offer those seeking a great deal. Very popular with families looking to settle down, they can choose from a variety of housing. Whether you’re looking for a cozy bungalow, a beautiful Cape Cod, or a stunning Georgian home, chances are you can find what you want for less than $350,000.
One of the more well-established areas of the city, Logan Square is hot not only for its numerous residential properties but also for its growing commercial district. With the arrival of various restaurants as well as craft breweries, the area is fast becoming known for being a popular destination for young professionals. And best of all, three-bedroom houses can be purchased for between $350,000-$400,000, which are considered to be very affordable prices in the city.
No matter which of these areas buyers look to, chances are they will find a property that not only fits their lifestyle but their budget as well.