I love to keep current on the various trends in the general real estate market so whenever I get a moment between appointments I get out my IPAD and catch up on the various digital industry magazines, newsletters, forums, blog posts, etc.
I was surprised to see that Redfin's Research Center had an article by Tommy Unger today giving a list of the top 10 Hottest Neighborhoods in 2014 across the nation. Being a suburbanite who is Puerto Rican by birth and who worked in Chicago for many year's, I recognized Humboldt Park and remember its History and was proud.
For many years I have gone to the "hood" to get my taste of island cuisine. If you have had the opportunity to drive on Western Avenue along Division Street to Mozart you may have noticed the "Paseo Boricua" which encompasses the epicenter of Puerto Rican culture in Chicago and many say the Midwest. The "Paseo" or promenade represents the three cultural experiences of the Puerto Rican people (Taino, Spanish and West African) with a dab of various European nations.
The business' along this area are a small sample of restaurants, retail, grocery to nightclubs, all with the authentic taste of the island where many of the residents came from recently or via their parents migration to the mainland. The Puerto Rican culture is alive and well as the sounds of salsa and merengue can be heard during the summer and the various festivals that are held in the neighborhood.
Seeing Humboldt Park on this list made sense to me. The variety of homes similar to many other gentrified areas in Chicago with much higher prices the affordability factor was a given. The median sales price in this area is $189,450 compared to other parts of Chicago this is quite affordable. With 163 closed transactions last year in the detached single family category from a low of $6,930 for a 4 bedroom 2 bath foreclosure on Spaulding to a high of $577,200 for a 4 bedroom 3.1 bath home on Albany you have a wide range of price points.
If you are interested in the neighborhood contact me and I will refer you to a fellow agent that specializes in this neighborhood.