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iamshack

Midcentury Modern

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QUOTE (bmags @ Apr 17, 2013 -> 12:27 PM)
Definitely, difficulty is reno's are going for straight cash in recent cases. We are definitely going into a place that will need work in our preferred price point.

 

Jenks, commute is a concern, but most of it is walkability. Logan Square isn't exactly a dream commute now on the blue line. But I hate driving, have since I first learned to drive. I haven't seen LaGrange, so I wouldn't be speaking from experience on there, however.

 

Most of the western burbs along the BNSF will require a drive/park to take the train unless you can spend 6-700k+. Those homes within 5-10 minutes walks are obviously very desirable. I'm sure that's the case in all the suburbs though as a general rule.

 

Another place to check out is Riverside. My buddy and his wife just got an awesome cap cod on a short sale there. Bought it for like $175k with comparables in the 3-400's. It needs a lot of work, but they'll make a nice chunk of change when they get it fixed up and sell it.

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QUOTE (Jenksismyb**** @ Apr 17, 2013 -> 11:00 AM)
Most of the western burbs along the BNSF will require a drive/park to take the train unless you can spend 6-700k+. Those homes within 5-10 minutes walks are obviously very desirable. I'm sure that's the case in all the suburbs though as a general rule.

 

Another place to check out is Riverside. My buddy and his wife just got an awesome cap cod on a short sale there. Bought it for like $175k with comparables in the 3-400's. It needs a lot of work, but they'll make a nice chunk of change when they get it fixed up and sell it.

I read the other day that Riverside is actually like the first "master planned" community in the United States...back in 1880, I believe.

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QUOTE (Jenksismyb**** @ Apr 17, 2013 -> 10:56 AM)
In Hinsdale enjoy your property taxes. That to me seems like a place to move when you're 40-45 with a few kids about ready to go to middle school or high school, not somewhere to start a family. Otherwise you're spending a lot of money on schools that you don't use.

 

La Grange is a great town. We moved there mainly because our friends from college grew up there. My wife and I both grew up down "south" (central/western Illinois) in small towns so we didn't know much about any of the neighborhoods/suburbs in the Chicago area. But the schools are great (from what we read, our first kid is only 10 months old. But my wife really did research and found it to be one of the better school districts in the state, especially for the relative cost) and the home prices range from your multi-million dollar mansions to your 250-350k ranches/georgians. For each town you go west (Western Springs, Hinsdale) expect your property taxes and home prices to go up as well.

 

The best part of La Grange is the downtown area. Tons of high quality restaurants and shops. And the commute is great. There are a couple of express trains in the morning that get you into Union Station under 25 minutes. Same on the commute home. If you can find a place within walking distance obviously that's great, but you can also get parking permits for like $25 and no wait list (other communities like Hinsdale or Downers Grove have wait lists that take several years to get). And it's definitely a family-oriented town. With one or two exceptions, everyone in my neighborhood is probably 30-45 with a couple of kids.

My parents still complain about the property taxes in Hinsdale to this day, some 20 years after they moved from there...

 

I think you are spot-on about LaGrange.

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QUOTE (Jenksismyb**** @ Apr 17, 2013 -> 07:00 PM)
Most of the western burbs along the BNSF will require a drive/park to take the train unless you can spend 6-700k+. Those homes within 5-10 minutes walks are obviously very desirable. I'm sure that's the case in all the suburbs though as a general rule.

 

Another place to check out is Riverside. My buddy and his wife just got an awesome cap cod on a short sale there. Bought it for like $175k with comparables in the 3-400's. It needs a lot of work, but they'll make a nice chunk of change when they get it fixed up and sell it.

 

Interesting, I've never heard of Riverside.

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QUOTE (Jenksismyb**** @ Apr 17, 2013 -> 12:56 PM)
In Hinsdale enjoy your property taxes. That to me seems like a place to move when you're 40-45 with a few kids about ready to go to middle school or high school, not somewhere to start a family. Otherwise you're spending a lot of money on schools that you don't use.

 

La Grange is a great town. We moved there mainly because our friends from college grew up there. My wife and I both grew up down "south" (central/western Illinois) in small towns so we didn't know much about any of the neighborhoods/suburbs in the Chicago area. But the schools are great (from what we read, our first kid is only 10 months old. But my wife really did research and found it to be one of the better school districts in the state, especially for the relative cost) and the home prices range from your multi-million dollar mansions to your 250-350k ranches/georgians. For each town you go west (Western Springs, Hinsdale) expect your property taxes and home prices to go up as well.

 

The best part of La Grange is the downtown area. Tons of high quality restaurants and shops. And the commute is great. There are a couple of express trains in the morning that get you into Union Station under 25 minutes. Same on the commute home. If you can find a place within walking distance obviously that's great, but you can also get parking permits for like $25 and no wait list (other communities like Hinsdale or Downers Grove have wait lists that take several years to get). And it's definitely a family-oriented town. With one or two exceptions, everyone in my neighborhood is probably 30-45 with a couple of kids.

So im from DG and growing up the downtown area was a ghost town of crap. My parents had a victorian house a few blocks from the train. We moved away to a subdivision and I grew up there. Fast forward to now and the house is worth about 10 times what they sold it for and downtown DG is bumping. Go figure.

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QUOTE (RockRaines @ Apr 17, 2013 -> 02:02 PM)
So im from DG and growing up the downtown area was a ghost town of crap. My parents had a victorian house a few blocks from the train. We moved away to a subdivision and I grew up there. Fast forward to now and the house is worth about 10 times what they sold it for and downtown DG is bumping. Go figure.

 

From what I heard La Grange had a similar experience. In the 80's the downtown area sucked and was run down, but in the 90's/00's it became much more developed and is now thriving.

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QUOTE (Jenksismyb**** @ Apr 17, 2013 -> 02:12 PM)
From what I heard La Grange had a similar experience. In the 80's the downtown area sucked and was run down, but in the 90's/00's it became much more developed and is now thriving.

Sounds about right. Naperville and Hinsdale had decent downtown areas but the rest of us had nothing as the business went away from downtown areas to the big box intersections, now its all moving back towards the train. Its kinda strange actually. I just had lunch in downtown LaGrange and I was impressed.

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Pretty much all of the stops along BNSF have reinvigorated downtown areas right near the train station.

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QUOTE (StrangeSox @ Apr 17, 2013 -> 02:35 PM)
Pretty much all of the stops along BNSF have reinvigorated downtown areas right near the train station.

Its so weird because my father took the train downtown for 30 years and it just started to get that way in the last 10-15. Not only businesses but condos and townhouses.

 

One of my favorite areas to put on my future radar is Elmhurst, I love that downtown area and the housing surrounding it. Of course my Oak Park based wife still thinks thats the boonies.

Edited by RockRaines

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QUOTE (RockRaines @ Apr 17, 2013 -> 02:36 PM)
Its so weird because my father took the train downtown for 30 years and it just started to get that way in the last 10-15. Not only businesses but condos and townhouses.

 

One of my favorite areas to put on my future radar is Elmhurst, I love that downtown area and the housing surrounding it. Of course my Oak Park based wife still thinks thats the boonies.

Before deciding to move to the city after school, I thought about staying closer to work and living in Arlington Heights or Mt Prospect and find a place near the downtown area and their train stops. Unfortunately, rent typically was pretty crazy for what you got (very mediocre places, not updated in the past 10+ years, all for $600+ per person/mth).

 

Elmhurst is pretty nice, I've got close relatives who live out there and the neighborhood has always been clean, quiet, while still having major stores within 10 minutes.

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I grew up in Clarendon Hills and still have family in the area. Clarendon Hills is less expensive than Hinsdale, but it has really shot up in price the last 10-15 years, comparatively. The "knock down small houses and build mansions" thing that was going on in Hinsdale when I was in high school has been going on in CH for the last decade now. For something affordable, you have to go west or east. I second the comments on LaGrange. My brother bought in Countryside when he and his wife left the city. Most of the rest of my friends went further west. I hear there are some good deals in Lisle these days, along with schools that are pretty good.

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We are starting to look too. Of course the area we want is one of the most expensive in madison. Our pre-approval is well above what I'm comfortable spending but I'm wondering if I should stretch it. The real problem is taxes. $9k a year in taxes sucks.

 

Here is one question I need opinions on. How does one approach an offer where the asking price is well above assessment? I mean like $100k above. Is that just an owner that isn't serious?

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QUOTE (RockRaines @ Apr 17, 2013 -> 02:36 PM)
Its so weird because my father took the train downtown for 30 years and it just started to get that way in the last 10-15. Not only businesses but condos and townhouses.

 

One of my favorite areas to put on my future radar is Elmhurst, I love that downtown area and the housing surrounding it. Of course my Oak Park based wife still thinks thats the boonies.

It's funny. Western suburbs are so unfamiliar to me. I lived 20-30 minutes north of downtown for 18 years (plus the summers until I was 22) and know the northern suburbs like the back of my hand. But the western suburbs? Nooo idea.

 

...I hope that didn't make me sound like a spoiled New Trier kid.

 

QUOTE (IlliniKrush @ Apr 17, 2013 -> 12:32 PM)
For whatever reason she's against northern suburbs.

Hey now, don't hate! :lol:

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QUOTE (farmteam @ Apr 17, 2013 -> 09:01 PM)
It's funny. Western suburbs are so unfamiliar to me. I lived 20-30 minutes north of downtown for 18 years (plus the summers until I was 22) and know the northern suburbs like the back of my hand. But the western suburbs? Nooo idea.

 

...I hope that didn't make me sound like a spoiled New Trier kid.

 

 

Hey now, don't hate! :lol:

Here exact words were "farmteam grew up there and look how he ended up, we're not doing that with our kids"

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Yeah you definitely cant let your kids grow up in cook county.

 

Now lake county, that is where the action is :)

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QUOTE (IlliniKrush @ Apr 17, 2013 -> 09:09 PM)
Here exact words were "farmteam grew up there and look how he ended up, we're not doing that with our kids"

Well if she doesn't want her kids moving to Minneapolis, she has a point.

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The townhouse I have an offer on has a basement, and a somewhat leaky one at that. I'm kind of hoping he gets water in it today and gives up. I was going to gut it anyway.

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QUOTE (RockRaines @ Apr 18, 2013 -> 07:37 AM)
The townhouse I have an offer on has a basement, and a somewhat leaky one at that. I'm kind of hoping he gets water in it today and gives up. I was going to gut it anyway.

Haha :)

 

When does he have to respond to your offer by?

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QUOTE (iamshack @ Apr 18, 2013 -> 09:46 AM)
Haha :)

 

When does he have to respond to your offer by?

Today. My agent seriously called them to ask how the basement was.

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The furnace broke and the pipes froze in our house while we were going through the final inspection process. Getting that dumbass real estate agent to even return our calls and tell us what was going on, let alone what had actually happened and a detailed explanation of what they were repairing was a nightmare.

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The inspection on my home should be finishing up as I type this...to be honest, I don't even know if I would care if something went drastically wrong at this point in the process...

 

Edit: Well, not drastically wrong! :)

 

What I mean is I don't know if I would be upset if they found something stupid that made them afraid to buy.

Edited by iamshack

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QUOTE (iamshack @ Apr 18, 2013 -> 11:30 AM)
The inspection on my home should be finishing up as I type this...to be honest, I don't even know if I would care if something went drastically wrong at this point in the process...

 

Edit: Well, not drastically wrong! :)

 

What I mean is I don't know if I would be upset if they found something stupid that made them afraid to buy.

So how long do you have to find a new place if the inspection goes ok?

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QUOTE (bigruss22 @ Apr 18, 2013 -> 09:32 AM)
So how long do you have to find a new place if the inspection goes ok?

We can stay in my place til about Memorial Day...so that means we have to get an offer accepted like yesterday if we are going to get something closed by then...

 

We put in an offer in on something just now...it is a home we saw the first day we went out looking...neither of us particularly care for the style of the home, but it is in a great neighborhood, has a great yard, a great pool, etc...we'd have to knock a bunch of walls down and open it up quite a bit, but if we got it for the right price, it would be doable. And I think if we did open it up a lot and do some nice things with the decor, it would be worth quite a bit more...it is a lot of house on a big lot in a great area with a pool...those homes usually do well in our market.

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QUOTE (iamshack @ Apr 18, 2013 -> 11:36 AM)
We can stay in my place til about Memorial Day...so that means we have to get an offer accepted like yesterday if we are going to get something closed by then...

 

We put in an offer in on something just now...it is a home we saw the first day we went out looking...neither of us particularly care for the style of the home, but it is in a great neighborhood, has a great yard, a great pool, etc...we'd have to knock a bunch of walls down and open it up quite a bit, but if we got it for the right price, it would be doable. And I think if we did open it up a lot and do some nice things with the decor, it would be worth quite a bit more...it is a lot of house on a big lot in a great area with a pool...those homes usually do well in our market.

Sounds like a great opportunity.

 

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