Granted it is 45 degrees outside while I am writing this post, but it's not about the weather! The Chicago Tribune posted some good news which is reflective of the neighborhood economic changes. All is not doom and gloom here people.
How can Chicago show neighborhood home price increase? It has to do with balance and business. The balance is based around condominiums, single family homes, 2-4 Unit apartment buildings sprinkled with Apartment Buildings. Kind of a nice recipe for success. It doesn't surprise me that Ald. Gene Schulter's 47th Ward has increased at all. I have monitored the 47th Ward for quite some time and because there is a healthy balance in housing and the business is diversified. Transportation and other desireable amenities are right at your fingertips.
These are the appreciation increases for 2008 that have been reflected as of September 2008:
Lincoln Square: 10.48%
North Center: 1.67%
Click Here to See This Awesome "Heat Map" of the Chicago Neighorborhoods and see for yourself.
With strong competitive interest rates in place and some new financing programs hitting the mainstream in January 2009, says now is a good time to think about investing in your future.