Condo in Chicago area
#16
Heading for Poppyland
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Location: North Norfolk and northern New York State
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Re: Condo in Chicago area
Check to see if there's any back tax owned.
The missus knows someone in a similar situation who quickly bought a bargain for $40K in cash and a year later got hit with $300K in back taxes :/
But anyway, then you've got other condo fee's which could be several hundred a month.
Plus all the other issues mentioned.
The missus knows someone in a similar situation who quickly bought a bargain for $40K in cash and a year later got hit with $300K in back taxes :/
But anyway, then you've got other condo fee's which could be several hundred a month.
Plus all the other issues mentioned.
#17
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Re: Condo in Chicago area
That looks a whole lot more like Rogers Park than Evanston. It's pretty scummy and fairly dangerous.
Rent when you arrive, then you can start sniffing around to buy once you're here and start to get a feel for the city. I doubt those prices are going anywhere in the next year.
Rent when you arrive, then you can start sniffing around to buy once you're here and start to get a feel for the city. I doubt those prices are going anywhere in the next year.
#18
Re: Condo in Chicago area
On fees, we are beginning to look at coops in the Bronx. OK, a coop is a different situation from a condo, but similar in some ways. The purchase is a reasonable price, but then fees are about $700 a month. Hard to compare with a single family home, but where we are now, in a house, we pay $6,000 a year to heat the place, plus about $5,000 a year in taxes. So fees of $700 a month which include everything, would leave us thousands a year better off, in relation to owning this house.
#19
Re: Condo in Chicago area
That's what "title insurance" is for. When you buy you are supposed to get "clear title", and the title search is supposed to pick up things such as (potential) tax liens. When such issues crop up, title insurance is supposed to settle the debt leaving you with clear title.
#20
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Joined: Sep 2012
Posts: 214
Re: Condo in Chicago area
That looks a whole lot more like Rogers Park than Evanston. It's pretty scummy and fairly dangerous.
Rent when you arrive, then you can start sniffing around to buy once you're here and start to get a feel for the city. I doubt those prices are going anywhere in the next year.
Rent when you arrive, then you can start sniffing around to buy once you're here and start to get a feel for the city. I doubt those prices are going anywhere in the next year.
Move to Chicago first, take a ride around on the El for a few weeks and then figure out what your comfort level is with these areas.
#21
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Joined: Sep 2012
Posts: 214
Re: Condo in Chicago area
Also in Illinois you do need a lawyer but your realtor will be able to recommend one. You should only need to pay them about $250 assuming it's a simple transaction.
#22
Heading for Poppyland
Joined: Jul 2007
Location: North Norfolk and northern New York State
Posts: 14,543
Re: Condo in Chicago area
Good advice for anyone moving anywhere new. Just doesn't make sense buying when you don't know an area, just because you think the prices look too good to miss ... in fact, if the prices look too good to miss, even more reason to scope out the city and neighborhoods for at least six months before thinking of buying!
#23
Re: Condo in Chicago area
Good advice for anyone moving anywhere new. Just doesn't make sense buying when you don't know an area, just because you think the prices look too good to miss ... in fact, if the prices look too good to miss, even more reason to scope out the city and neighborhoods for at least six months before thinking of buying!
#24
Re: Condo in Chicago area
That's what "title insurance" is for. When you buy you are supposed to get "clear title", and the title search is supposed to pick up things such as (potential) tax liens. When such issues crop up, title insurance is supposed to settle the debt leaving you with clear title.
It weren't a Brit in this case, but the caution still applies.
#25
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Location: Naperville, IL
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Re: Condo in Chicago area
So what area of Evanston is safer? Because everyone I talked to recommended Evanston/Northern suburbs because they are the safest in Chicago land.
#27
Re: Condo in Chicago area
http://www.city-data.com/crime/crime...-Illinois.html
#28
Re: Condo in Chicago area
Evanston is perfectly safe. There is a low-income area in the northwest, and part of its southern border, that is somewhat less safe due to some gang activity, but in real terms if you aren't hanging out on certain corners at 2am the place is as safe as houses. It is also a very easy commute to downtown Chicago.
#29
Re: Condo in Chicago area
Ah, now that I've looked at your link, I see where that building is - in the of the poorest part of Evanston that is almost in Chicago. Stay further away from Howard Street (ie go a few blocks further north).
Evanston schools are quite good. The population is mixed in terms of income and also has a substantial group of children who do not yet speak English , so when you take average stats from the schools, they look worse than they are. Children who are not low income do very well - including mine whose test scores from last spring put him in the 98th and 99th percentile nationally. The high school ranks in the top 2% in the country.
Evanston is a university town, and that makes it even more international and quite pleasant.
Evanston schools are quite good. The population is mixed in terms of income and also has a substantial group of children who do not yet speak English , so when you take average stats from the schools, they look worse than they are. Children who are not low income do very well - including mine whose test scores from last spring put him in the 98th and 99th percentile nationally. The high school ranks in the top 2% in the country.
Evanston is a university town, and that makes it even more international and quite pleasant.
Last edited by Lion in Winter; Nov 24th 2013 at 11:33 pm.
#30
Re: Condo in Chicago area
Trulia is generally reliable for prices so there must be something wrong with the condos/complex/area. Something doesn't make sense since the average price is about $300,000 in Evanston.
Last edited by Michael; Nov 24th 2013 at 11:35 pm.