Record condo numbers to saturate downtown

Condos and homes in the 'burbs aren't selling either. My future sis-in-lawn took a significant loss on her 'burban home -- one that she put bucks into with new flooring, for example; and my brother is renting his condo in the city until the housing market in general improves.

Seniors drive the market and boomer parents who buy or help their kids buy these condos. We have an 18 month supply of condos which is good for everyone except the developers. Cheers to anyone who wants to buy here, Most Chicagoans love the people from outside the area. Anyone is welcome as long as they have a job!
The market will snap back and all the naysayers will say " I could have been a millionaire" but didn't since they are negative.

You do not make a milion overnight but 5 years from Now I will be ONE Happy GUY!

See ya later!

What goes up also comes down and what is down also goes UP! It's also a good tax deduction too!

Make an offer!

former condo dweller wrote:

<quoted text>
Well, the other side of the coin is that different people are into different things. Not to assume that I'm one of the '2 others' you were alluding to, but the clubs that feature the music I like just aren't located nearby my old condo. That isn't to say that there aren't options for nightlife out there, it's just that they aren't ones that are up my alley. Different strokes for different folks though!
My comment about most things closing at 5pm and on weekends still is relatively true though - with the exception of certain dining establishments and a couple of bars, unless you cross over into the area west of halsted or go down to printers row/south loop, there aren't many things that are actually open in the west loop in the evenings. Like I said earlier though, that's one thing we liked about it - it was nice and quiet, but it wasn't a hassle at all to get where there was action when we wanted to.

Nope, you certainly were not one of the couple people i was talking about. One of the things I LOVE about the city of Chicago is that all the different areas have different ways to enjoy your life. You can be in a quiet area surrounded by nightclubs abd stores or in the nightclub areas or the sports and museum areas or..... the options are tremendous in this city.

"Downtown living, almost inconceivable 15 years ago, has contributed an extraordinary amount to Chicago's economy and its reputation as a livable city. The near West Side, once a depressed area, is now noted for fine dining. The near South Side has gone from a desolate warren of railroad tracks and warehouses to an engaging neighborhood with a short walk to work for thousands of people."

all those condos, with the accompanying real estate taxes, transfer taxes and etc, and the county is still broke. what does that tell you?

entry level at 300,000 come on are they nuts?

1 bedroom condos will be a million dollars, 2 bedrooms will be 2 million. You people are crazy! I feel bad for the people who purchased in these areas but come on. Did you ever realize what you were purchasing, nothing but deeded air. Everything will come crashing down, no liquidity in the market and we are out of stupid chumps, they already bought and are about to lose, BIG-TIME. Hope ya'll can rebuild your lives, I really do.

Vienna Beef wrote:

All these posts make it seem like downtown Chicago is a big failure. Why don't we look at how many units have been sold in the past 15 years or how many people have moved into the downtown area. It is mindblowing how many units have been sold. These 6,000 units coming on the market are because of greedy overdevelopment and easy capital not because people didn't want to live there.
Yes CPS needs help but check the stats 3 of the top 3 High Schools in the state are CPS schools. Yes ahead of New Trier and Stevenson's of the world. And 10 of the 12 best Grade Schools are CPS schools. Granted yes the system as a whole has to get better.
High School rankings based on State Test Score
1 Northside College Preparatory Hs City Of Chicago Sd 299 Chicago Cook
2 Payton College Preparatory Hs City Of Chicago Sd 299 Chicago Cook
3 Young Magnet High School City Of Chicago Sd 299 Chicago Cook
4 Jones College Prep High School City Of Chicago Sd 299 Chicago Cook
5 New Trier Township H S Winnetka New Trier Twp Hsd 203
Grade School Rankings
http://www.chicagotribune.com/business/conten...

You're forgetting the most important school. You know, the one that receieved a million bucks from the Gov

The people that are really hurting from this situation are the current condo owners that need to sell. How can you compete when buyers can go one block over and get a brand-new rehab with all of the amenities? I have friends that have been trying to sell their condo for a year because of a job relocation, and it really is a great condo, but no luck. They're just stuck there and paying a small fortune in gas expenses to get to their new job.

DCL wrote:

I think the downtown school concern is more valid the more I think about it, and I hope someone somewhere has a (workable) plan to present to the boobs on Lasalle St. to remedy that, though I'm still skeptical of said boobs to ever get it right. Otherwise, I weep not for anyone with the means to ever choose to live in the center of a town like this one, as I'm too busy being jealous to weep. Such a situation would perfectly suit this South Sider whose activity spreads citywide.
If I weren't so very poor at this point in my life I would help chip down the condo glut spoken of in the relevant article. And I would live like I am aware that I live in the middle of a dense, bustling city.

That's funny, we seem to be working in opposite directions - you're on the south side longing to get downtown, and I was just downtown and chose to move to the south side. After years of living in the fairly impersonal downtown condo setting (seriously, we never knew our neighbors, and not from lack of trying), we both wanted something that was a bit more of a neighborhood. recently we moved to our new place in bridgeport, which seems like the best compromise between proximity to the city, price, and neighborhood feel; it reminds us of an improved version of our first home in garfield ridge (nice neighborhood but WAY too far out).

As said before, in terms of the dearth of quality public schooling in the immediate downtown area, but the time we want to have kids we're planning on just getting out of the chicago-area all together. It'll stink in many ways because we both love this city deeply, but we're drawn to other areas as well. Nothing says you can't move back!

former condo dweller wrote:

<quoted text>
Ah my bad - I read your comment wrong. No, I most definitely do not live in Andersonville or Lincoln Square, nor do I have a stroller to push; I wouldn't be caught dead living in those areas tbh - it's not my style.
I'm just a realistic young married living in Bridgeport, which I love, who knows that after I hit 30 or so I'm going to want to breed and move to somewhere a bit more green and leafy. I don't feel healthy living here, breathing in all the bus crap and such every day, and I'm pretty certain that I wouldn't want to raise a child in it either. Why do you think there is such a high percentage of childhood athsma in kids that have grown up in urban areas? The air here isn't clean for developing lungs. Beside that, it's time to move on.
Thanks for pigeon holing me because I at some point want to have kids though - nice. Yes, everyone that wants to raise children in a healthy environment with good public schools MUST be a north side yuppie - actually, that demographic is most likely the ones shelling massive amounts of cash to send their spawn to private kindergarten.

Since you wouldn't be caught dead in these neighborhoods, I guess you missed the point. If you would be caught alive in this neighborhood, you'd know how treacherous it can be to navigate a sidewalk with all the pimped out Bugaboos vying for pole position. I think your plan for rearing your young'uns in the 'burbs in a great idea, though I hear there aren't many sidewalks out there. May make it difficult to show off your $800 Bugabloo stroller.

OMG DAG!! I checked out Superdawgs over the weekend... I just noticed you avatar hehe. cool little place out there on Milwaukee and Devon i think. I love driving through Sauganash and Edgebrook, great little towns within city limits. Many people I know who have gotten married had moved out to places like Jefferson Park, Park Ridge and Norwood Park. They say its close to the suburban feel but still within city limits... like you dont have to drive 30 miles to get to whole foods or starbucks. These people are mixed white and blue collar. Some professionals like doctors and lawyers and some Police/fire and Teachers.. its a great mix of a community.

Dagnanimous wrote:

<quoted text>
Since you wouldn't be caught dead in these neighborhoods, I guess you missed the point. If you would be caught alive in this neighborhood, you'd know how treacherous it can be to navigate a sidewalk with all the pimped out Bugaboos vying for pole position. I think your plan for rearing your young'uns in the 'burbs in a great idea, though I hear there aren't many sidewalks out there. May make it difficult to show off your $800 Bugabloo stroller.

Since when did a desire to breed automatically = senseless spending on worthless crap? Not all young parents are over-consuming yuppies. I do find it funny that you actually know the brand name of these things when I'm, as a potential owner of one in your eyes, have no idea what you're talking about. Do come on here purposefully to pick fights where there are none to be found, or are you naturally this generalizing and antagonistic?

I guess you also missed my comment about skipping the burbs all together and moving elsewhere. I'd really prefer to stay away from anything even mildly suburban; my childhood there was more than enough. Funny enough though, my 'burbs had sidewalks everywhere; perhaps you were raised on the north shore where things like that were a bit too unsightly and common.

Anyway, where will that leave us? Either a smaller-sized city like Madison where things are more laid back, or somewhere more rural where walking can be down on our own land and in fresh air. Insert dig against Wisconsin or rural living as being too beneath someone 'like me,' right?

David J wrote:

For several years now, these condo developers were banking on the trend of baby-boom, empty nesters selling their suburban homes and moving into condos. But with their homes decreasing values and mortgages tougher to obtain, this has ground to a halt. And what happens in 20 - 30 years as the baby-boomers die off. Lots of empty condos that they may not be able to guve away.
This could be big trouble.

I have laughed at this very same thing. This is why we are in a mortgage crunch now - they figured all those people with ARM would go out and find another job to pay the higher interest rates - and they could not and did not find another (2nd) job - fooled those bankers and such when they gave the houses back. You are right - apparently the blacks that they let move out in the suburbs did not cause all of the trouble and fear expected - the whites kept their homes and no one is hurrying to move downtown - what a downturn for the realtors, developers - ha ha ha

LP Trixie wrote:

OMG DAG!! I checked out Superdawgs over the weekend... I just noticed you avatar hehe. cool little place out there on Milwaukee and Devon i think. I love driving through Sauganash and Edgebrook, great little towns within city limits. Many people I know who have gotten married had moved out to places like Jefferson Park, Park Ridge and Norwood Park. They say its close to the suburban feel but still within city limits... like you dont have to drive 30 miles to get to whole foods or starbucks. These people are mixed white and blue collar. Some professionals like doctors and lawyers and some Police/fire and Teachers.. its a great mix of a community.

What is so great about a hot dog that costs nearly $5.00? Who cares about Starbucks or WholeFoods where a banana costs $12.00? Get real!

LP Trixie wrote:

OMG DAG!! I checked out Superdawgs over the weekend... I just noticed you avatar hehe. cool little place out there on Milwaukee and Devon i think. I love driving through Sauganash and Edgebrook, great little towns within city limits. Many people I know who have gotten married had moved out to places like Jefferson Park, Park Ridge and Norwood Park. They say its close to the suburban feel but still within city limits... like you dont have to drive 30 miles to get to whole foods or starbucks. These people are mixed white and blue collar. Some professionals like doctors and lawyers and some Police/fire and Teachers.. its a great mix of a community.

I hear ya, Trix, I've lived all over this fine city and if I ever decided to pump out some kids I would have to say I'd consider a nice little casa in Sauganash and Edgebrook with a fenced yard and doggie door for the little ones!

former condo owner wrote:

<quoted text>
Since when did a desire to breed automatically = senseless spending on worthless crap? Not all young parents are over-consuming yuppies. I do find it funny that you actually know the brand name of these things when I'm, as a potential owner of one in your eyes, have no idea what you're talking about. Do come on here purposefully to pick fights where there are none to be found, or are you naturally this generalizing and antagonistic?
I guess you also missed my comment about skipping the burbs all together and moving elsewhere. I'd really prefer to stay away from anything even mildly suburban; my childhood there was more than enough. Funny enough though, my 'burbs had sidewalks everywhere; perhaps you were raised on the north shore where things like that were a bit too unsightly and common.
Anyway, where will that leave us? Either a smaller-sized city like Madison where things are more laid back, or somewhere more rural where walking can be down on our own land and in fresh air. Insert dig against Wisconsin or rural living as being too beneath someone 'like me,' right?

I grew up in the northwoods of Wisconsin, FCO, so no digs from me. I've also lived on the deep south, California, other midwestern cities, New Mexico, Texas and Philadelphia -- and in quite a few 'hoods here in Chi town. Don't get sore, I'm just messing with you, I don't fight for sport. And I only know about the Bugaboo strollers from reading the labels on their underside after having been mowed down a time or two. hee hee. You go have kids and raise them where you want!!

Dagnanimous wrote:

<quoted text>
I grew up in the northwoods of Wisconsin, FCO, so no digs from me. I've also lived on the deep south, California, other midwestern cities, New Mexico, Texas and Philadelphia -- and in quite a few 'hoods here in Chi town. Don't get sore, I'm just messing with you, I don't fight for sport. And I only know about the Bugaboo strollers from reading the labels on their underside after having been mowed down a time or two. hee hee. You go have kids and raise them where you want!!

Hah fair enough. Personally I love Wisconsin, but I'm always prepared for some FIB-style comments when I bring it up on here. But hey, barefoot and pregnant on my farm is still a ways off - until then I'll be a proud Chicagoin. Bridgeport gives me all the 'neighborhood' I need until we move on.

Look like Chicago is now poping as well. The funny part is the suckers that bought in the South Loop. Overpriced condo's in the getto. One of the worst neighboorhoods in the country. Lots of crack dealers on street corner at night. They paid upwads of 500k in some casees for 2 beds. Woops!

Derek wrote:

Look like Chicago is now poping as well. The funny part is the suckers that bought in the South Loop. Overpriced condo's in the getto. One of the worst neighboorhoods in the country. Lots of crack dealers on street corner at night. They paid upwads of 500k in some casees for 2 beds. Woops!

What on earth are you talking about? What area do you consider to be the South Loop if you associate that kind of activity with that neighborhood? The area that I consider to be South Loop is pretty much as yuppie and gentrified as you can possibly get; the wave swept through so long ago that you don't even get the random homeless person wandering through, let alone all the crime you speak of.

Now, if you're completely misguided and think that the South Loop extends to the new condos being built in Bronzeville, you may have a slight point there as the neighborhood still has some crime going on.

Here, educate before you go ahead and make misinformed statements: http://www.chrismay.org/content/binary/chicag...

It's a map of Chicago neighborhoods and their official/unofficial boundaries. South Loop ends at Cermak, which I will admit may get a bit sketch if you live a sheltered life and consider people who are living close to the poverty line to all be criminals - beyond that is the Near South Side and Bronzeville. Only over-ambitious real estate agents consider those areas to be South Loop because they feel that that name will make their properties more desirable. You see the same thing with neighborhoods like Wicker Park, West Loop, etc. being extended way beyond their boundaries by property listing trying to cash in on established names.

As for people who bought in when South Loop was still 'getto [sic],' they bought in at much lower than their properties are worth now; not really suckers, are they?