BUYING "SAFE": OLD CITY
CONTINUES TO THRIVE
D E E T H O M P S O N C H I C A G O
T H E U . S . H O U S I N G B U B B L E
Affected over half of the country with housing prices
peaking and then rapidly declining. Due to Chicago’s
and Illinois’ longstanding budget issues and massive
debt burdens, some have speculated that the slightest
economic downturn could prove a devastating blow to
the city’s revitalization.
However, amongst all the negativity, there are shining
pillars of hope. In particular neighborhoods of Chicago,
ongoing high demand, proximity to the lake and city,
and overall lack of inventory coupled with high demand
have protected home values from market downturns.
P R E S E N T A T I O N
And invest in neighborhoods that have been well-insulated from
market turndowns. Buying safe means that home buyers don’t have
to worry about decreasing market value because the area is in such
high-demand. Location is everything when it comes to real estate,
after all, and that mantra has helped the Chicago housing market in
a number of a neighborhoods.
Home prices on Chicago’s North Side, in particular, have been
historically stable. Average home prices in Lincoln Park are higher
than ever, even exceeding pre-crash peaks. Another neighborhood
on the North Side, Old Town, has also become a place of interest for
home buyers, and has continued to �ourish despite housing troubles
in other parts of the United States.
Like most of the areas that have
escalated quickly and are likely to
remain popular, Old Town possesses
characteristics such as quick access to
downtown via public transportation, are
close to greatly appreciated areas, and
have become popular areas and venues.
While Old Town itself is quite small, the
entertainment and attractions are
immense. Fresh food and nutrition are
more than covered in this neighborhood
with 2 Jewel’s, a Whole Foods, a Plum
Market and a Trader Joe’s. Home to the
funniest shows in Chicago and close to
North Avenue Beach, Old Town is
welcoming to people of all natures. Old
Town also boasts numerous art shows
and unique shopping experiences, as
many stores remain independently
owned, rather than part of a large chain.
such as the breathtaking Victorian-era architecture and
eclectic BYOB restaurants ensure a return visit from
tourists and promise a long and healthy lifespan in the
real estate market.
For anyone searching for a “safe” housing investment in
Chicago, Old Town is a solid choice and will continue to
be for generations to come.