Everyone has a friend or relative who has made a killing in real estate because they bought in the next hot neighborhood back when it wasn’t even lukewarm. We call these prophetic buyers urban pioneers, and they’re something of a tradition in the Windy City. Maybe that’s because Chicago’s neighborhoods are almost always evolving. In fact you don’t have to dig too deep to discover that Lincoln Park was once a working class neighborhood, the South Loop was once a giant parking lot and Hyde Park was once a suburb! For many Chicagoans, pioneering is a conscious choice. Some people are just more comfortable living on the edge. For others, pioneering is a necessity. They get priced out of more developed areas, so they go one more stop on the line and wind up looking like a genius. There are a few telltale signs that a neighborhood has the potential to pop. Urban pioneers generally look for:
Fully developed neighboring communities
An abundance of rehab activity
Proximity to transportation including commuter rail lines and expressways
An active retail district
A major cultural or civic amenity that forms the heart of the neighborhood
Recent public works projects such as streetscape improvements Whether you’re looking for tomorrow’s hot neighborhood or today’s, I’m always here to help you find a home that fits your taste, lifestyle and budget.
-Dave Straub @properties 773.255.3180
(@properties September 2008 Newsletter)
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