I recently went out to dinner with a group of friends and talk turned, as it often does, to our neighborhoods. One woman, Krista, talked about how she and her husband were looking to buy. They had moved to Chicago a year or so ago and were renting in Logan Square. When we asked what neighborhoods she was looking at, the first one on her mind was Humboldt Park.
Right then, you could tell who at the table was a long-time Chicagoan and who was fairly new. The long-time ones instinctually balked. Humboldt Park? Isn’t that really dangerous? Isn’t it pretty run-down? Isn’t it, well, Humboldt Park?
That made sense. For decades, Humboldt Park has been (mostly unfairly) marginalized and denigrated by people living in other neighborhoods. It’s not usually thought of as an up-and-coming neighborhood in Chicago. But, that perception is changing along with the real estate market. Housing prices are going up. Restaurants are opening. The incredible recreation areas are getting more well-known. As the neighborhoods west of downtown continue to grow, Humboldt Park might be poised to break out.
That’s what the relative newcomers understood. Pretty soon, I think, every real estate investor in Chicago will know that Humboldt Park is up and coming, too.
Humboldt Park Real Estate Has an Up and Coming Amenities—and Prices
Humboldt Park has always been a working-class neighborhood and, for decades, has been the heart of the city’s vibrant Puerto Rican community. Anyone who has ever driven down North Avenue just west of Western has passed under the huge steel flag of Puerto Rico. And, if you haven’t been to the parades here, you are missing out on one of the best parts of our diverse city. But, things are changing here—and it’s reflected in the housing market trends.
Housing market predictions for Chicago have not yet caught on to Humboldt Park’s up and coming status, though they are not far behind. Single-family homes have risen in value significantly in recent years but prices are still about 25% lower than their peak during the real estate boom. That means there is room to grow while still being affordable. It’s important to look at Humboldt Park in relation to the rest of the city as well as other neighborhoods.
Humboldt Park is higher than the average in Chicago, but that’s to be expected. Homes in the Back of the Yards neighborhood average little more than $100,000. The average is weighed down. But, Humboldt is still dramatically cheaper than its neighbors. And, you get a lot of space for your money compared to Logan, Wicker, and even Chicago as a whole. So, there is a lot of investing opportunity here because there are a lot of people who can afford to move in.
Outdoor recreation is one of the biggest draws of Humboldt Park. The neighborhood is named for its centerpiece: a rambling 207-acre park transected by trails and softball diamonds and an 800-person Little League field built by the Cubs. It has a huge lagoon and a beautiful Deco boathouse. The tree-filled park is filled with nooks and crannies to catch a nap or read a book. You’ll find true food carts, music, and, most importantly, families.
Another clear reason Humboldt Park is piquing the interest of potential homeowners is location. One of the rules of thumb of real estate investing is to look at neighborhoods next to the ones that are getting jammed up. From Humboldt Park, you can easily walk to a lot of the great bar and restaurant options in Logan, or just shoot up North Avenue to get to the heart of Wicker. People in Wicker or Logan who want to buy might find those markets too expensive. They’ll look toward Humboldt Park.
Without a doubt, Humboldt Park is set to become one of Chicago’s best neighborhoods for real estate investing. So, how do you start investing in the up-and-coming neighborhood of Humboldt Park?
How To Invest in Humboldt Park Real Estate Competitively
Nothing I’m telling you is secret. Lots of real estate investors are beginning to salivate over Humboldt Park’s up-and-coming status. That makes it vital to have a pipeline for leads. As it gets more competitive, being a step ahead is going to be crucial.
I’m already ahead of the game as an independently owned and operated HomeVestors® franchisee because I have access to the nationally-known and trusted “We Buy Ugly Houses®” marketing campaign. When distressed homeowners across Chicago need to sell fast, they know who to call—me. That’s how I recently closed a purchase of a distressed house in Humboldt Park, rehabbed it nicely, and sold it to Krista. She loves her new home, and I love the opportunity to make a difference in the community.
Ready to invest in Humboldt Park, too? Request information about limited HomeVestors® franchises in Chicago today.
Each franchise office is independently owned and operated.