Monday, April 10, 2017 || By Local News Curator || @maywoodnews
Chicago Magazine recently named Melrose Park among the best places in the Chicago area for first-time home buyers. The feature spread, titled “Where to Buy Now,” will appear in the April issue. The village was listed along with Niles and Des Plaines.
“In this category, we looked for neighborhoods and fairly close suburbs that show good appreciation and low volatility for condos and small houses in the $150,000 to $450,000 range,” wrote Chicago Magazine’s Claire Zuckley. “We also looked at places with good schools — and not just because that’s often a big factor for first-timers. Even if you don’t have kids, strong schools bolster your investment, since they often go hand in hand with home price appreciation and stability.”
So what makes Melrose Park so appealing to Chicago Magazine? Here’s their take:
“It’s not unusual to find several generations of families living within blocks of each other in this tight-knit blue-collar western suburb. Melrose Park used to have a rough-and-tumble reputation, but today crime rates are actually lower than in tonier nearby suburbs, like Oak Park. ‘People all know each other here,’ says Mike Coco, a resident who grew up in the area. ‘Everyone says hello.’ A two-bedroom brick ranch house goes for about $185,000.”
What are the housing price changes in your town, according to Chicago Magazine?