Posted by: union03g | November 15, 2009

Uptown Is Off The Table As a Place To Invest

I’ve been following uptown closely for at least a year and I’ve just changed my opinion of the neighborhood. I used to carry the flag for this neighborhood and evangelize the catalysts (Target, potential for aldermanic change, cleaning up of the Wilson EL stop) but I don’t believe in it anymore. There’s too much crime, too much density and progress just isn’t there. Buying a rental or a primary home in this area is a bad idea. Helen Shiller is clearly hurting the long run viability of Uptown and it may take 30 years (a couple generations) to get buyers to move here in en masse. Even if prices go much lower it will become even more dangerous and landlords/homeowners will be too scared to be walking around at night.

Check out what happened Saturday night, a typical occurrence: http://www.uptownupdate.com/2009/11/just-another-uptown-saturday-night.html

Uptown still remains the most interesting neighborhood in the city, but for all the wrong reasons. It’s a political pressure cooker, the host to visible and intense class warfare and lately it seems to be getting much worse.

Uptown is off the table as a real estate investment option.

Jetty

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