The Challenges of Selling a House in a Bad Neighborhood in Chicago
Chicago is one of the world’s great cities. We’ve got it all: world-class dining, amazing culture, and of course, the 2017 baseball world champion Cubbies (no, we still can’t believe it finally happened). We’re home to some of the most distinctive and celebrated neighborhoods in the country. But unfortunately, we’ve also got some of the worst. We’re all aware that Chicago has the highest murder rate in the U.S.
So if you’re a home seller in one of the city’s crime-riddled neighbors, what are your chances of selling?
Bad Neighborhoods Were Once Glorious
See, the thing about Chicago is that many of the city’s most dangerous areas were once shining lights of this great metropolis. Take East Garfield Park for example, on the city’s near west side. Today, this is the beginning of the area that Spike Lee would call “Chiraq”. And yet, up until the 1940’s this was one of the city’s most illustrious neighborhoods. While today, many of the homes are blighted reminders of what once was, there are still many that, while dilapidated, remain quite beautiful. In fact, the area could change very soon. As a result, some buyers are looking here, willing to be on the frontier for the opportunity to rehabilitate a once stately home.
But problems remain if you’re trying to sell.
The Garfield Park neighborhood, while certainly recovering, has yet to live up to its potential. There are still plenty of abandoned lots, always a turnoff for potential buyers. And who would blame them? They’re magnets for an assortment of criminals.
Also, there’s still far too much crime. In East Garfield Park, over the past month, there have been almost two violent crimes for every 1,000 people. Of the reported violent crimes in the 77 community areas, that’s the 4th highest.
The Chicago Public School System has seen better days. The Garfield Park area a highly disadvantaged area, and as such, the test scores are low, dropout rates and gang affiliation is high. Good school districts usually offer protection from the ups and downs of the real estate market. Even in the case of a weak market, the presence of a good school district can be a major factor in ensuring the area’s overall market stability. You’re not going to have that advantage here.
The astronomical murder rate in Chicago is related to one thing: gangs. Chicago has some of the most violent and active gangs in the country, if not the world. While Garfield Park isn’t exactly the epicenter of the city’s gang and murder actively, it’s certainly not far from ground zero. A Chicago home buyer, even if she’s aware of the potential the area holds for rebirth, is going to know this. This is seriously working against you if you’re a home seller in this or any other similar neighborhood in the city.
With all of these issues facing you as a home seller in a bad neighborhood, wouldn’t it be easier to just unload the property to a company that will buy it outright? We Buy Ugly Houses Chicago can do just that. We’ll take the home off your hands quickly, so you can move on hassle free.