Why are condo prices so inexpensive in the best areas of the city of Chicago?

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That's not cheap, that's a lot of money IMO. Seven years ago, for not quite 50% more, I bough a decent house on 1/4 acre in a very hoity-toity Chicago suburb.
Plus I know that area, its not the heart of Chicago. The "heart" of town starts about 5 miles south of there. That area is still "Grandmasville", those buildings are loaded with retirees.
S
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Thank you. I will find out where the heart of Chicago is and make that the number one candidate. Retirees don't sound like something I'd like to be around all the time. For some strange reason, Chicago seems to be the cheapest of all major cities to buy apartments in. Yet IMO, it's one of the most desirable.
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Since you're not tied into any city and are looking to save $$$, look at Milwaukee.
S
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mrsgator88 wrote:

I will, thank you. I never thought of that and I thought that I thought of every place. I even looked at maps to decide.
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Two Reasons: 1. Condos suck- who wants to buy an apartment 2. It's Chicago- awful weather and much crime. I dont know why anyone lives there
Chris Tsao wrote:

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snipped-for-privacy@backpacker.com wrote:

But I like condos as much as houses.
Crime is fine, but bad weather is depressing and intimidating. My aunt turned 77 last month and I won't move until she passes. I have a while to decide what kind of home to live in and where. How long is your average female lifespan? Then, the second time I move it will be for good. I am hoping that there are retirement communities in Mexico where you can (1) have a whole apartment and NOT just one room and (2) one where they have nurses and other kinds of staff. In all of the retirement homes I've seen on TV, the retirees only had one room.
Julia Child moved to some kind of retirement community. I think it's a place with apartments, but do they have medical staff and the like there? All the retirement homes I've seen on TV are giant hotel-like mansions where the occupants (sp.?) only get one scant room.
Plus, in Chicago, I can use subways and not have to learn how to drive and buy a car and pay the increased gas prices I've been hearing about.
P.S. Mexico house are only--on average--half as cheap as in America. It's 80% cheaper to live in Ecaudor than in America. I'm not so sure how much cheaper houses are though. Maybe later, I'll post links to homes in India for sale, in case anyone's interested. They are rather costly. The condos in the Philipines (sp) are so cheap, that I wonder how they were ever able to purchase the building materials.
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wrote:

Agreed. On a thirty year mortgage most of what your paying is interest anyways, annual appreciation is nil to negative, you have to pay hundreds each month in assessments, and still you have to pay to fix anything that breaks. When you rent, there's no assesssment, and a landlord who's responsible for repairs. There's good and bad landlords, and good and bad condos just the same.

Its not as bad as everyone makes it out to be. Summers are great, winters are cold but not nearly the snow that everyone imagines. Virtually NO natural disasters. Occasional flood or tornado in the farther suburbs. Crime comparable to other urban areas.

Retirement homes here give you a choice.

The train system in Chicago is not as strong as NY or European cities. Nothing cross town, it all goes to/from downtown.
S
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mrsgator88 wrote:

Whew.
I'm going to be 42 in four months, so I figure I'll move to Chicago in about fifteen years and retire in South America, but just in case, it's comforting to know that I can have a full apartment.

Oh well. Buses hopefully go mostly everywhere in Chicago. I lived in Manhattan for a decade and Queens for 22 years, so Chicago would make me the least homesick because the buildings looks alike.
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