"Arm-Chair" Investors are those who do NOT want to live in the property they buy (a more precise term for this would be "NON-owner occupied"). The question we ask here is: Where have ‘arm-chair' investors like that been concentrating their investments?
Our work with arm-chair investors has led us to believe that SEVEN Chicago neighborhoods are particularly popular for those buying non-owner occupied, cash-flow property. For instance, Bill Bein, Chicagoland2to4Flats.info's founder, owns property in Grand Crossing (a south side neighborhood)-and he has now helped many different buyers buy in all of these areas.
- The west side neighborhoods are: Humboldt Park (census tract 23), East Garfield Park (census tracts 27), West Garfield Park (census tracts 26) and North Lawndale (census tract 29)
- The south side neighborhoods are: Woodlawn (census tract 42), South Shore (census tract 43) and Greater Grand Crossing (census tract 69).
We will look at each of them in previous and future posts. In this post we look at the sixth one: South Shore (census tract 43).
The nearby South Shore Cultural Center is part of the only lakeshore park that started life as a upper class country club.
The Encyclopedia of Chicago, compiled by the Chicago Historical Society, has an article on it:
"... A 1939 description of South Shore stating that it was "predominately middle class-upper middle class, to be sure, but not social register," offers an apt though antiquated characterization of this South Side community. ... "
See more at http://www.encyclopedia.chicagohistory.org/pages/1176.html
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