The nice thing about Chicago is that you don’t have to be a millionaire to buy a property here. While the housing markets on the West Coast and in New York City continue to spiral upwards to dramatic heights in which only the supremely wealthy can afford, the Mecca of the Midwest still remains a haven for those who aspire to obtain the old American dream of homeownership.
This is not to absolve Chicago’s real estate market of systemic issues—it’s no coincidence that increasing rent costs and the Cook County Assessor’s questionable methods of calculating property taxes were key issues in this year’s primary elections. However, for a price that wouldn’t even begin as a down payment on a property in Silicon Valley, you can find yourself living in a uniquely Chicago house in a uniquely Chicago neighborhood.
For this week, we’ll look at what $250,000 gets around the city.
525 E. 112th Street, Pullman
An integral community to Chicago’s role in rail, heavy industry, and labor rights, the Pullman neighborhood has another unique designation as the city’s first and only National Monument. And for $250,000, you can purchase a historic row home (pictured above) that has been fully overhauled and updated for contemporary living. It’s worth noting that this property is currently the most expensive on the market in the neighborhood—still a fraction of the amount that wealthy rail enthusiasts are spending on restoring old Pullman Palace Cars for cross-country travel.
9615 S. Leavitt Street, Beverly
If you’ve ever longed for a Tudor that looks like a gingerbread house and your budget is $250,000, you’re in luck. This Beverly single family home is really that adorable. And with three bedrooms and one and a half bathrooms spanning a floor plan over 1,600 square feet, you’re not compromising on how much home you’re getting for the money. There’s even a nice sized backyard for the kids and Fido.
1312 W. Montrose Avenue #2, Sheridan Park
If you’re not as interested in a single family home and the maintenance that comes along with it, you can find vintage apartments throughout the greater Uptown are that are often as large as a detached home. Here’s a two-bedroom unit on Montrose directly across the street from Graceland Cemetery that features a 1,200-square-foot floor plan. Having radiator heat baked into the $280 monthly assessment helps keep utility costs manageable, especially during the winter months.
1645 W. School Street #222, Roscoe Village
Located on the border of the Roscoe Village and Lakeview communities, this School Street one-bedroom is just steps from the Brown Line and grocery shopping. Here’s a perfect spot for the transit-reliant city dweller who doesn’t need a ton of space. However, there’s just enough room for full-size stacked laundry machines and even a narrow outdoor balcony. Conveniently enough, a garage parking space is included in the $250,000 asking price. Don’t expect this one to last too long.
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