Next gentrifying neighborhoods in and around Chicago MultiUnit

[Veronica Mitchell]

I'm looking to see what are some of the multi-unit in and around Chicago area to buy in?

[John Hu]

this right here is the gem advice.  This was Ukrainian village, wicker, Humboldt park (this one I never understood since it’s not near a train), west loop, university village, little village, and Pilsen.  

Gentrification starts with racism.  Call it nicely it’s market inefficiency but recognize that Chicago historically is a very segregated city.  It was only within the last 30 years has the upper middle class incomes start to spread out of the lake.  

Gentrification follows the formula of cheap rent+ east commute to downtown + open vacant space for restaurants and bars + proximity to another gentrified neighborhood that is getting to expensive so people expand their search to surrounding.   Thats the wicker, buck town, logan , and now Avondale expansion.  

There are some area I don’t think will ever gentrify even in the north side.   Like Albany park.  It just lacks the opportunity for commute and restaurant scene.  Chicago has no east west train line that it really needs, It’s already too expensive for anyone to invest, but not expensive enough to really build out.  It’s just going to slowing increase with inflation.  The closer to get to i94 the more valuable it’ll be, but it won’t go crazy like Logan or Avondale.  

The south side is great opportunity, but growing up in the south side I can tell you That anything south of 31st is gonna be for a long hauler.  The reality is there’s too much space to fill up as part of the gentrification. The density isn’t there and won’t get there for a long while.  Chicago need another million people in population to force us to push south.   You can see Bridgeport is just building in old industrial space. Pilsen is filling in and replacing buildings north of cermak.  But there’s still quite a bit of open availability that needs to fill in before expansion occurs.