Wednesday, December 03, 2014

Wishing I can get into real estate

Photo via Curbed Chicago
If only I had enough money to get into real estate. I would like to do rehab a house the way this greystone on the north side of Chicago had been. It's either that or build a house exactly the way this greystone was rehabbed.

As the "blogmaster" for The Sixth Ward I've followed real estate in the often beleaguered south side neighborhood of Englewood. Recently there were information on a vacant lot program which allowed Englewood neighbors in a pilot program to purchase and close on vacant lots there. The cost wasn't entirely cost prohibitive.

It's certainly cost prohibitive to build on those lots if that's what you chose to do with them. At the same time it's not necessary to build on those lots although if I was able to purchase a lot that's exactly what I would like to do. If nothing else until one gets the capital to build anything it's OK to turn these lots into oases instead of lots where weeds would grow and trash would collect.

Of course Englewood isn't the only neighborhood in Chicago where such a program is necessary. And who knows perhaps I'll have the luxury of buying a lot in the future and hopefully build the house I want to build. Or more likely have some property when a neighborhood turns around.

I mention Englewood because I'm starting to believe it's on the cusp. With a major CTA rail line and then a Whole Foods Market coming to such an impoverished neighborhood it seems very likely.

Now to start getting ready to get into real estate.

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