Conundrum: Oak Park VS Berwyn IL
A lot of interesting things going on in Oak Park IL. A few years back the city made the decision to embrace high rise structures, since than upscale high density condo and apartment construction has increased significantly, and there is more on the way. A local real estate agent told me they expect a 10% population increase over 5 years. The property taxes in Oak Park are both crazy high and unpredictable. Despite the potential for appreciation being a landlord in Oak Park is a PIA. A lot of rental competition, very entitled pool of potential tenants. I own in Berwyn also, my experience is much different there, nothing interesting going on with new construction. Have the same Berwyn tenant nearly 4 years, never gives me a headache. My Berwyn property was purchased about 20% below market, and has about doubled in value from my purchase price. Thinking about selling it and using the funds to purchase another property in Oak Park, because I see more upward potential. Have trouble wrapping my head around if its worth dealing with both the capital gains taxes and likely more difficult tenants, for the sake of greater potential property appreciation?