Quote:
Originally Posted by Bombardier
The value of Chicago condos has not seen the appreciation of property values like New York, Miami, San Francisco, and Los Angeles. My opinion is that Chicago is not as much an international destination so is not drawing as much interest from the international community to help drive sales and property values. Plus taxes and HOA’s are typically high relative to home values.
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No, Chicago is not an typical international destination for residential real estate purchases. The data is clear on that.
Taxes are high on property in IL but not higher than NY, FL, or CA. That’s a hilarious statement. Only CA can claim any kind of low tax status due to their Prop 13. Insurance in FL is ridiculous if you can even get it on your real estate so that wipes out any financial benefits comparing state to state.
HOA fees are building specific and I have seen very high and very low in all geos. The billionaire row building in NYC with private resident only restaurants… pretty confident that’s going to be a high HOA fee.