BRONZEVILLE REAL ESTATE
The market for Bronzevile Condos is still holding
its on. It is still a buyer’s market, but I feel that
most buyers are sitting on the sidelines. Most
are waiting for the market to bottom out. But,
unfortunately, we won’t know we hit bottom until
after the fact. By then, the best deals will be gone.
But, at any rate, I thought it would be a good idea to take
a look at the Bronzeville condo rental market. I haven’t
posted any info on Bronzeville rentals in a while.
If you rent a Bronzeville condo, it will give you at least a
year to become familiar with the area. The Bronzeville
area is still in redevelopment stage. But, it already has
a lot to offer. An increasing amount of restaurants and
businesses are coming to the area. There are plans
to add a new grocery store to the mix as well.
Bronzeville real estate values should also benefit from its
proximity to Hyde Park, the University of Chicago, and IIT.
If you would like to buy, but you’re short on cash,
renting a condo will give you time to save your
down payment. If you’re lucky, you may
even find a Rent-with-Option-To-Buy. Right now,
condo financing is pretty tight. Most lenders are
looking for at least a 10% down payment and a 700
middle credit score. A 20% down payment would be ideal.
That way, you wouldn’t have to pay for Private Mortgage Insurance.
Private Mortgage Insurance is becoming very expensive these days.
BRONZEVILLE RENTALS
According to the MLS, as of Mar-25-2009, there are 105 condos for
rent in the Bronzeville area. The average rental is a 2 bed/2 bath
renting for an average of $1,438 per month.
The condos typically have central air. They also have a microwave,
dishwasher, and a Washer and Dryer in the unit. Some units include
one parking space.
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Click a link to view available Bronzeville and Hyde Park Rental listings!
3 BED / 3 BATH
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If you would like more information on leasing a
Bronzeville rental, please feel free to contact me.
I provide FREE assistance to renters and buyers.
Until the next time…
Until the next time,
Mark Killion
Real Estate Broker
Century 21 Affiliated
5200 S. Harper Ave
Chicago, IL 60615
24 Hour Voice Mail: 312-242-1822
Send me a note!
Visit me online: www.773property.com
EQUAL HOUSING OPPORTUNITY
