Closing on a 3 Flat in Hermosa... thoughts on the neighborhood?

Question

Hey all,

I bought in Hermosa predicting with the population of folks moving west of Wicker Park due to its high prices. My thoughts are Logan>Humboldt> and hopefully Hermosa. Opinions? Hopefully I made a good decision for my first property!

Afrothiti Manolis · Answer

Thank you @Manuel Santiago! @Zach Gring I'll be sure to check that out, thank you for letting me know. @Jonathan KlemmThank you! I have been enjoying my decision. What details do you mean? Happy to fill you in.

@Crystal Smith Thank you so much!! I'd be biased to say you were/are right :).

Zach Gring · Answer

@Afrothiti Manolis

I don’t know the area very well as I stay out west more but you should check out the podcast “straight up Chicago investor” I can’t remember which episode it was that I listen to a little while ago with that area talked about. If you’re a Chicago investor it would be a great podcast to follow anyway.

Afrothiti Manolis · Answer

@John Warren Thank you! @Paul De Luca great to know, thank you! @Henry Lazerow yes, this is a 5 min walk to 606, I thought the same. Thank you for your input! @Peter Halliday Agree on the metra, this is a 10 minute walk. Thank you for your thoughts! @Ricardo Delgado very helpful to hear you have similar thoughts. I appreciate your comment and guidance!

Peter Halliday · Answer

I’d say Logan > Hermosa > Humboldt Park in my opinion: it’s a great neighborhood. I love the. Area walkable to the Metra. I think it’s going to be a draw.

John Warren · Answer

@Afrothiti Manolis congrats on your purchase! Hermosa has been a solid, up and coming area for a while. Like everywhere it is tough to find inventory that works right now when you factor in all the real costs of ownership so kudos to you finding a good deal!

Henry Lazerow · Answer

I like Hermosa a lot and the properties have been appreciating like crazy especially the more eastern parts on the edge of Logan Square. It's a solid area with a mix of working class tenants and some millennials looking for a cheaper option still close to Logan Square. I agree with Peter the part right by Metra may also get hot sooner or later although currently I am seeing the most eastern edge boom the most.

P.S. The 606 is a great walking trail. Not sure if you are house hacking but if will be living in the area definitely check it out!

Paul De Luca · Answer

Congrats on your purchase! I agree with @Peter Halliday in saying Logan>Hermosa>Humboldt Park. Logan Square has rapidly appreciated over the last few years so logically people who are priced out of Logan Square will be searching for better affordability in Hermosa.

I'm bullish on Hermosa/Belmont Craigin and have been looking for my next house hack in those areas.

Ricardo Delgado · Answer

@Afrothiti Manolis

Congrats on your new home!

I personally like Hermosa and have considered a few properties there. I love how the south east side of Hermosa is close to Mozart Park and the 606 Bike Trail. I also see change coming to that area and plan to continue to look for multi units in that area.

Kelvin park area in the middle of hermosa is also nice in my opinion.

Best of luck!

Jonathan Klemm · Answer

@Afrothiti Manolis - I was just referring to purchase price, rehab, rents, ARV, etc.

Crystal Smith · Answer

My thoughts on Hermosa- Now that you live in the neighborhood there's nowhere to go but up.

Closing on a 3 Flat in Hermosa... thoughts on the neighborhood?

Closing on a 3 Flat in Hermosa... thoughts on the neighborhood?

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