Rolling Meadows, IL · Member since 2016 · 20 posts · 5 votes
I have a question about room sizes in Little Village? are they all that small? Was looking to rent in a 2 bedroom apartment, living room and kitchen are decent sizes but the bedroom can barely fit in a queen bed like it would take up the whole wall. What do you guys think about room sizes in Little village in a 2 or 3 flat?
If I can guess the room sizes are a good 7x10 or even 6.5x10
Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes
9y
@Account Closed - Yep, you are going to see that in the older areas of Chicago. So even up the blue line up to Logan. Newer properties have been gut rehabbed with layout changes to accommodate a more modern floorplan with bigger bedrooms, but the smaller 2-4 units commonly have tiny bedrooms in those areas
Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes
9y
@Account Closed - Yea they are still rentable. If people want to live in those areas for under $3k a month rent that is what they are going to have to deal with
Chicago, IL · Member since 2016 · 238 posts · 68 votes
9y
@Account Closed Yeah, my 2-flat has two 7x10 rooms. Half of the buildings I've looked at are like that down here. There are a few that have been fully gutted and remodeled to be shaped differently, but that's pretty much the standard here and people rent them all over.
Real Estate Broker · Chicago, IL · Member since 2015 · 1k+ posts · 2k+ votes
9y
@Account Closed The small rooms are the market here in Little Village. There are some units with larger rooms, but for the rent difference vs. purchase price you'd be better off in most cases acquiring a 3BR w/ the small rooms vs. a 2BR with larger rooms. The extra space just isn't appreciated as much across the entire rental base. You'd be amazed at how some tenants stretch the meaning of a bedroom.
However, if you're plan is to rent out to a Section 8 voucher holder now or in the future, measure the rooms to ensure they meet the minimum (I think its 70 sqft). Section 8 isn't big around here now but its becoming more popular as voucher holders are being priced out of other areas like Humboldt Park.
Rolling Meadows, IL · Member since 2016 · 20 posts · 5 votes
9y
thanks for your input Matt. Well I'm definitely not trying to rent out to section 8 nor do I want any of the local owners to rent out to section 8, but I don't have control over what others do. I'm really trying to do whatever I can to make this area of little village better. But I do understand the Humboldt Park situation. As long as people are comfortable with the room sizes then so be it. This is a new experience for me. I just hope outsiders and prospective renters aren't shocked and walk away because of that. Location is very proximate to downtown which always helps. Do you see college students renting out here? I see its proximate to UIC as well.
Real Estate Broker · Chicago, IL · Member since 2015 · 1k+ posts · 2k+ votes
9y
@Account Closed I wouldn't worry about the small rooms, its what's in all of the rest of the properties here, with the exception of a few.
UIC is a bit far to be considered close if that makes any sense, not just in distance but also the demographic of the neighborhood compared to say University Village or Little Italy. I can see potential in the future east of California Ave because of the proximity to Pilsen, being that pilsen is an area that's comfortable for many. Little Village does still have gang/violence issues, and with its history many people from outside the neighborhood aren't all that comfortable here just yet. Its unfortunate though, the #60 bus runs right down 26th Street 24hrs a day and also goes right in front of the hospitals, UIC, and downtown. LV has certainly improved in the last 10 years, and the status-quo is rapidly changing though.
That being said, there is still a very large pool of renters here which continues to grow as people are priced out of other areas. As I've explained in other posts, it just takes a different approach here to be profitable.
Real Estate Broker/Investor · Chicago, IL · Member since 2015 · 106 posts · 22 votes
9y
Originally posted by @Account Closed:
thanks for your input Matt. Well I'm definitely not trying to rent out to section 8 nor do I want any of the local owners to rent out to section 8, but I don't have control over what others do. I'm really trying to do whatever I can to make this area of little village better. But I do understand the Humboldt Park situation. As long as people are comfortable with the room sizes then so be it. This is a new experience for me. I just hope outsiders and prospective renters aren't shocked and walk away because of that. Location is very proximate to downtown which always helps. Do you see college students renting out here? I see its proximate to UIC as well.
You actually cannot refuse a Section 8 or CHA voucher holder from renting your apartment. If the rent price is covered by their voucher amount they just might be able to move in.
Other neighborhoods have older inventory w/ tiny bedrooms as well. I remember a two flat from my childhood that we lived in over in Belmont Cragin with those smaller room sizes. It's just what you have to deal with.