Quote:
Originally Posted by marothisu
I was only talking about downtown, the most expensive part of Chicago (on average). Chicago is actually pretty much 50% or more cheaper than NYC anywhere you look no matter what. Literally a 3 bedroom in downtown Chicago is cheaper than the 1 bedrooms next to us here. Also the HOA prices on average in NYC are way higher than in Chicago so that needs to be factored in.
How about this $800K 2/1 in Chelsea with a $1700/mo HOA? Not very nice though with some character, a virtually non existent kitchen, and small with absolutely no view of anything:
https://www.realtor.com/realestatean...1_M38522-29800
By contrast, I can get a 1350 sq ft 2/2 in Lincoln Park just a few miles north of downtown basically right next to Lincoln Park with a much better view for $299K with a $975 HOA. You could spend $100K renovating this place and it would still be half the sale price as the Chelsea one above.
https://www.realtor.com/realestatean...4_M85860-62577
So let's contrast to some place not in Manhattan. How about this 1200 sq ft 2/2 in Forest Hills, Queens for $719K with a $1533 HOA. This is 9 miles east, in Queens, to Bryant Park in Manahttan:
https://www.realtor.com/realestatean...5_M43495-08187 |
I've been telling people this for weeks now......
And yes, Chicago's winters suck, but if you are already in DC/NY, I think you won't be bothered by it too much. Here in Denver, our prices continue to go through the roof because of extreme issues with under-supply. Here's a recent article discussing how bad it's getting in Denver (
https://www.westword.com/news/denver...-year-11892826), where the average selling price for a SFH is now $629k. That average number has gone up $100k in the past year. So, when I see 2-bdr in Lincoln Park for $299k.... It definitely captures my attention.