How Much House Does $250,000 Get You in Chicago?
Part two of our bang-for-your-buck series: See what a quarter million buys you in the Windy City, from Logan Square to Grand Boulevard.
Last week we toured houses, condos and rehabs from Hyde Park to Pullman to the Oak Park ‘burbs in the $150,000 price range. In part two of our four-part series we move the needle by $100,000 to a $250,000 budget. Remember: Even though the national mood is enthusiastic on housing, and, according to Crain’s, this past February Chicago had the best homes sales performance in seven years, demand is still outpacing inventory. In a weird twist of recovery math, a Zillow study found that in the quarter ending 2012, Chicagoans actually spent less of their income on homes compared to the whacking pre-bubble trap. But are we spending less and buying more … house? Here’s our quarter-million runners-up. (Missed part one? Check out our roundup of Chicago homes for $150,000.)
Logan Square. Let's start with this 2-bedroom, 2.5-bath loft. We always pay attention to lofts. Located at 1934 N. Washtenaw this 1,560-square-foot top floor unit is in a neighborhood with median sales prices on the rise, currently landing around $186.2K. But the average listing price has lost some heft, reduced by $10,000 to $255,848 – which slips this loft right into our buy-range. Logan Square is sometimes whispered as Bucktown’s forgotten stepsister. But how interesting she is. Where else in the city do you have this mingle of big open Frisbee-dog spaces, Dante's Pizzeria on Armitage (where you eat pizza the proper way: fold it), punk karaoke and swank shops on California? The neighborhood’s a comer and this loft hits all the sweet spots: vaulted cathedral ceilings in a bright floor plan. Presented by Robert Adolfson of @properties. Asking $249,900. Perk: Bike friendly boulevards.