Appreciation/Potential of NWI
Does anyone know of the appreciation potential in northwest indiana? I am from Chicago and the political climate and high tax rates seem like it would be rife with opportunity. Illinois has more people leaving the state than any other due to the high tax burden caused by the pensions. If you have a good job in Chicago, it would make sense to move to NWI due to the proximity and the south shore line. You are essentially living in a chicago suburb without the prices. I have been examining the market and it seems very stable/affordable. Does anyone have a insight into NWI, specifically Hammond? I've seen mansions that would be worth at least a million in oak park go for very cheap in parts of hammond. Is it more of a cash flow play or appreciation? Appreciation potential seems to be there.
Most Popular Reply
I echo what @Jason Albasha said. The grass is not always greener on the other side. I missed some great deals while looking in Indiana, and the Chicago market is simply a lot more dynamic. There are definitely areas that are experiencing population loss, but its not like the whole city is experiencing the loss. The reality is that there are some phenomenal areas with very strong renter pools here in the Chicago market. I just wish I had kept buying in Berwyn instead of getting distracted a few years ago...