Chicago is widely known as the “city of neighborhoods.” Of the city’s neighborhoods – there are approximately 180, according to WBEZ—there are a few standard real estate hotbeds. The most desirable locales include Streeterville, River North, Old Town, Lakeview, and Lincoln Park.
But in a city as big and rich in culture as Chicago, there many other places to raise a family or find a fun social outing. Furthermore, the best way to turn a profit in real estate is to buy in an up-and-coming neighborhood and watch it grow and develop. These four neighborhoods might be the next places to purchase investment property or a starter home.
- Andersonville—A North Side neighborhood with a bustling business district at Clark and Berwyn, Andersonville isn’t just one of the hottest neighborhoods in Chicago, it’s one of the hottest neighborhoods in the nation. Its roots date back to the 19th century when Swedish immigrants settled in the area following the Chicago Fire. Today, the neighborhood’s older structures and new developments are desirable real estate for first time buyers and those looking to upsize.
- Garfield Ridge—With each rehabbed bungalow, the buzz surrounding this Southwest side neighborhood increases. The adjacent Stevenson Expressway and Orange Line offer easy access to downtown. Many lots include both front and backyards and the area features and abundance of public parks. Its proximity to Midway airport could be considered a blessing and a curse, depending on your lifestyle needs.
- Humboldt Park—The historic, spacious park the neighborhood is centered around is now bordered by a plethora of rehabbed homes and condo developments. With stops along several major bus lines as well as the CTA Blue Line, getting to and from Humboldt isn’t an issues. An influx of restaurants and boutique shops are walkable for many residents. It is also close to social hubs such as Bucktown, Logan Square and Wicker Park.
- West Loop—The West Loop boom is alive and well. With Google opening a headquarters in the neighborhood, it’s likely to grow more from here. The West Loop is a hub for fine dining and its nightlife options continue to grow. The space formerly known as Harpo Studios will likely be developed into some of the city’s most desirable real estate in the coming years.