Houses for Sale

[Boris]

Is this just South Berwyn?

If so, will all of Berwyn eventually creep up into these type of price ranges due to market pressures?

Or will North Berwyn forever be the "bad" part of Berwyn?

My plan was to sell in about 4 years, however, if the area changes (higher cost of homes= higher taxes= less ignorant neighbors) then it would make no sense to move out.

My house in N. Berwyn has gone up $70K in 5 months...as I said before, I think the real boom is going to be in N. Berwyn. It reminds me exactly of River West in Chicago about 5-6 years ago...demographics, property values, businesses, access to CTA trains- everything.

[saluki]

We closed in March '04 on 'as is' estate home in south Berwyn.  Did a total gut rehab of inside (granite countertops, cherry cabinets, ss appliances, ceramic floors), total gut rehabbed both full baths, Toto toilets, also installed slate floor, new lighting fixtures in entire home from Rejuvenation.com.  Bought for 205k March '04, CMA's run this week by my realtor and current appraisal 370k. 

There really aren't any more 'deals' to be had on the south side of town.  The real estate deals remain north of Cermak.

[shrugger]

speaking as someone who just searched for and purchased a house in south Berwyn, I can say that the prices have definitely gone up very rapidly... just from looking at the sale prices on my block two or three years ago. but with the Depot District being generally underdeveloped I would be hard pressed to say that there isn't still room for continued growth.

we looked in the North as well, it seems like there is an Oak Park spillover effect that could happen there. but I would say that access to transit is also a major attraction at this end of town (15-20 minutes into Union Station on the BNSF). at least it was for me. that and the bungalows. of course, the bungalows.

and yes, it certainly seems like there are more places coming on the market in the past month... think that any of them have to do with the recent election results?

[T-Stan RPCV]

In general people could care less about the election results.  Those who are passionate about it are the exception not the rule. No sane person would base such an important decision as buying a home on which political party is in power at the time (unless your a policitian, in which case sanity may be questionable anyway).

It's great to see the home prices rising.  The way to do it is get in early, build equity and upgrade, capitalism is cool.  We are fortunate to be in a great town.  I think it had an undeserved reputation that have kept prices artificially low, but now the secrets out and things will continue to go well for Berwyn.

We're seeing more homes on the market because of the time of year.  Many families don't want to move during the school year because it could be tough on the kids.  With summer coming, those who were making plans are starting to act.

Hvychev, we are materialistic Americans and, by default, deserve the best of everything.  Affordability is not a barrier to prevent us getting what we "need".

[shrugger]

the elections comment was a bit of a joke on my part... guess I should have used one of those smiley things. I was hinting that there may be some who've been riding the patronage gravy train and maybe starting to make other plans. you're right, Stan, it really is just the seasonal cycle we're seeing. but I have no idea how it compares to previous years.

on the other hand, I think that while the majority of people don't really look at the local government (or transit for that matter) when buying a home, there is a certain portion of homebuyers that do take those things into account. I've spoken with at least two people who, when I told them I was moving to Berwyn, immediately brought up the local government's reputation for graft. it's probably down on the list of factors, but it is something that many people pay attention to.

[Boris]

we looked in the North as well, it seems like there is an Oak Park spillover effect that could happen there.

I think the big dif between north end and south of our lovely town is the general feel...

...the south side feels more like a suburb, like LaGrange- while the north feels more like a Chicago neighborhood. The north is going to attract people who would like to buy in one of the near-west Chicago neighborhoods and can't afford it (who can!!), while the south is going to attract the folks that want to move to the burbs and start a family, but want to be as close to the City as possible.

But no matter how you (or I) try to analyze things, one thing is very obvious-> you have property values in the $300's and up on the south end...then 15 or so blocks to the north you have homes in the $300-$400's in Oak Park. There is no way the relatively small stretch in between is going to remain in the mid/low $200's for more than another year or three.

my 2¢

-woof.

[Bru67]

Is this just South Berwyn?

If so, will all of Berwyn eventually creep up into these type of price ranges due to market pressures?

Or will North Berwyn forever be the "bad" part of Berwyn?

My plan was to sell in about 4 years, however, if the area changes (higher cost of homes= higher taxes= less ignorant neighbors) then it would make no sense to move out.

North Berwyn's future is going to be heavily dependent on condo conversions me thinks.  There's a lot of rental stock there now, especially around Cermak and Oak Park.  It's dense, perhaps as dense an apartment concentration as I've ever seen in all my days.  Not much good is going to come out of that, especially in these times where anyone who's even remotely close to financially stable is buying and not renting.  That means landlords are taking anything that the dog drags through the door.  While this makes for colorful and entertaining police scanner listening for the rest of us, it's not helping property values much for you guys, I suspect.

If some of NB's very good looking apartment buildings and two and three flats get converted, NB will go up fast.  If not, expect a dichotomy similar to North Oak Park and South Oak Park to develop as the lower income people being pushed out of assorted Chicago neighborhoods by condo conversions resettle in apartments here.  And the more of them that come, the cheaper rents will get and it will accelerate.  We need to push this administration to encourage condo development and get rid of some of those draconian rules we have that seemingly intentionally discourage developers. 

[markweiner]

Bru, you do not need to push the new admin. for condo conversion.  We are all for it.  I would love to hear your ideas on how to make it happen; or anyone else's for that matter. 

MarkWeiner1@Hotmail.com  www.thirdwardalderman.com(a site in progress-not much in the way of progression)

[pioneer]

Bru, you do not need to push the new admin. for condo conversion.  We are all for it.  I would love to hear your ideas on how to make it happen; or anyone else's for that matter.  

MarkWeiner1@Hotmail.com  www.thirdwardalderman.com(a site in progress-not much in the way of progression)

When you say "we", are you referring to all recently elected officials including those who have been re-elected???

I would love to see every single two-flat on Ridgeland Ave converted (in the 5th Ward) and get some Oak-Park style parking regulations going.

Have you IVB folks had a chance to speak to the remaining Dems from the former administration?  What are their opinions about what needs to be done.  It will be interesting to see what they do now that they are in the minority.

I hope you are all able to work as a team for the betterment of Berwyn...

[markweiner]

That is all we want is to create and make a better Berwyn. I have spoken to one of the two remaining Democratic Aldermen, and yes, we want a better Berwyn. 

Mark

[Bear]

If anyone is looking for a nice home, I noticed today the home I grew up in
is up for sale. 3329 Clarence. Coldwell is listing @ $329,900. My parents sold it in 1971
for 58k, which was actually high at that time. I wonder if my boogers are still
under the staircase rail...