Condo Reaserch In Chicago
The Chicago Condominium has made an unprecedented increase in demand through the past twenty years. What was once a small-time often vacation based real estate venture has ballooned into one of the strongest aspects of the market. Condos are no longer the domain of the retiring or wealthy, they are in demand for everyone from young professionals and new families to students and new homeowners. Chicago has responded to the demand with a growth in condo building making it the third largest market in the country.
Initially developed along Chicago’s famous lakefront, then spreading along the Chicago River, condominiums are fast becoming the home of choice among urbanites. Many are looking for a purchase near work, others hoping to find a place without the hassle of yard work and maintenance. Condo living in Chicago is by far a more convenient living condition with a far better investment than renting.
There are a number of different types of condos in Chicago. Along the Gold Coast, downtown and on the lakefront there are high quality high rise condos that feature all the amenities you could imagine: Indoor parking, doorman, exercise facilities, pools, beach access, cleaning services and many others. Though these areas are expensive and highly sought after, the return on investment is hard to beat.
With the desire for condos at an all time high, apartment buildings are regularly being converted into condos, not only supplying the market with more condo options at a broader scale of price but also making them available in more neighborhoods. Where once Chicago condo availability was limited to downtown and high rent areas, now you can find a condo in the neighborhood of your liking.
Another development in the condo market is the condo for students. With the cost of secondary education on the rise, and the expense of dormitory housing equally high, many parents consider buying a condo for their child a better investment. And in most cases it is just that. After four to five years of college, the value of the condo, in most cases, has risen considerably. Factor in the tax advantages and investment speaks for itself.
Chicago offers condos just about everywhere, and because of the rapid development of new buildings, and the constant rehabilitation of older ones, finding the one you want is easy. As with any large purchase, it is important to research each property thoroughly, but with a little patience, you are sure to find a quality condo in Chicago.