Chicago’s Buena Park Neighborhood an Option for Affordable Condo Space

Looking to buy in an up-and-coming Chicago neighborhood? Why not try the North Side’s Buena Park area?

 

At least that’s the suggestion from Chicago Magazine. The magazine recently looked at several neighborhoods throughout the Chicago area that its editors consider to be up-and-coming slices of the city, places dotted with quality housing choices but not yet crowded with as many people as some of Chicago’s more traditionally hot neighborhoods.

 

This North Side city neighborhood is bounded by Lake Shore Drive on its east, Montrose Avenue on its north and Irving Park Road on its south end. It passes by major arteries Broadway and Sheridan Road on its west. As Chicago Magazine sums it up, Buena Park isn’t Uptown or Lakeview. It’s in-between, and it boasts its own character.

 

This neighborhood isn’t especially big, running just a half-mile wide and a half-mile long. But, as Chicago Magazine points out, it is well-served by public transportation, with six bus lines running through it. Housing prices here can be high, with homes selling for $1 million or up near the lake. But Chicago Magazine points out, too, that buyers can find plenty of affordable units in lakefront high-rises and in vintage low-rise condo buildings.

 

The area is also in the middle of an uptick in residential construction. Chicago Magazine reports that developer Waterton has purchased the 1981-built Pensacola Place building, which is home to a grocery store and condos. According to the story, the developer plans to rehab the building’s aging facade and add more condominium units to its mix.

 

The former Maryville Academy building at Montrose and Clarendon here is being transformed into apartments and retail space. This project should be complete by 2018.

 

The neighborhood, as is the case with most up-and-coming ones, isn’t perfect. Chicago Magazine points out that there are no fine-dining options in Buena Park today, and that there are few shopping choices. However, the neighborhood is located close enough to Lakeview and Andersonville and their many dining and shopping options, that this might not be much of a problem.

 

If you’re looking to buy a condo on Chicago’s North Side, Buena Park might be worth a look. Chicago Magazine says that the typical sales price of a condo in this neighborhood is $238,000, a pretty affordable price in the city.