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by onlyrealcuzzo
1064 days ago
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> It's also a 4-bdr condo even in some parts of the Loop. The average $800k+ condo in the loop is 2 bedrooms. Sure, maybe there's a couple rare 4-bdrm's for $800k - but there's a reason they are so much cheaper... At the moment - there does not appear to be a single 4-bedroom listed on Zillow for less than <$800k: https://www.zillow.com/the-loop-chicago-il/?searchQueryState... In fact - there's not one listed above $800k either... There are only 3 3bedroom condos for less than $800k - and the average HOA would adjust the price to well over $1M - making them not affordable... I would not say if you can find 1 condo in a decent neighborhood that's semi-affordable at $300k that somehow my point is refuted that $300k - after taxes - is really not that much money... |
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Where you'd probably actually buy, with $800k burning a hole in your pocket, is Wicker/Bucktown, Lakeview, Hyde Park or Roscoe Village. If you were price conscious, you'd buy in Lincoln Square or Jeff Park.
$800k will also buy you a pretty fantastic house in Chicago. Of course, it won't buy you a house in the Loop, because houses don't go in the Loop. When people in the HN demographic think about the parts of Chicago they think are high-status, they're not thinking like a typical house buyer, who has kids, cares about the local schools, and wants a yard. Those people are buying in Beverly, Portage Park, and Jeff Park. Houses there top out at $800k; I had a sinking feeling looking at Redfin listings there (oh shit, am I wrong about this?) untiL I realized I had to drop the lower limit way below $750k to see all the available houses.
I assume this thread is about how hard it is to survive in major American cities on $300k/yr. I think you're generally doing OK just about anywhere in the US at $300k/yr, but I assure you you're doing well in Chicago making that.