All Forum Posts by: Jeff Burdick

ok a simple google search of crime rate Chicago  or crime rate and then the area you are looking for will give you all of the answers you need. I have two units currently for lease and I have had probably 12 people inquire and all of them but one live in the city. I have no idea why they are moving to the suburbs as Park Ridge is not really that far from the city and it borders the city of Chicago. But if the current trends continue with crime it will have an effect. That's all I am saying. Most young people don't mind because they think they're invincible to crime until it happens to them.  I have never spoken to a cop that didn't say that morale was at an all time low and that things are getting worse. But maybe you have different cop friends than I do.  I'll stay in the suburbs and you stay in the city. That much we can agree on. 

OK apparently you don't watch the news in the evening. I'm not going argue this but the element is coming into the wealthy neighborhoods because that's where they find what they want.  Lincoln Park Wicker Park Lake view Wrigley Ville Logan Square, Edgewater has all seen crime rates explode. Don't take my word for it look it up online. I'm just saying people are going  leave the city if things don't change. I have many friends That used to live in the city and have since moved to get away from the crime. Sure there  are vibrant  communities but you have to look over your shoulder when you walk down the street.  If you want to move to very select neighborhoods like Edison Park where it's all police officers and firemen sure it's safe. But there are very few places now that are truly safe.   I also have a lot of police officer friends that tell me it's only going to get worse. And they should know since they deal with that every day. There are just too many uncertainties with the city of Chicago to be investing money in my opinion. It's just an opinion.

not at the condos that I own. And I can buy them much cheaper than I can in decent neighborhoods in Chicago.  Plus my condos are in safe areas and there is no safe area in Chicago anymore. I'm just saying if I were choosing between suburbs and the city I would choose the suburbs 100% to invest in. Especially with the horrible school system that Chicago public schools has become

I have purchased all of my investment properties in Park Ridge. Condos close to Maine South High School. You would not believe how easy is to rent these units out. I rehab them and people flock because Park Ridge is Safe and the excellent school system. I would never even consider buying in Chicago at this point. Crime is rampant and taxes are insane! 

1. Trying hard is not good enough to deal with Chicago's debt now.  Rahm is awesome at promoting Chicago but he needs Rauner and the legislature to support his efforts.  He's just one man.  We're lucky to have him.  Imagine what investing in Chicago would be like under Mayor Chuy Garcia?

2.  If you want classes sizes under 30 for your children in K-12 in Chicago, you need to pay to send them to a private school - like the Mayor and others in his adminisitration do now.  This is not the case in the suburbs.  Once Chicago property taxes start to equal Park Ridge, Oak Park, Palos Heights, etc. property taxes (without the good schools with low class sizes, low crime, good parks, etc.) the exodus will begin on the north side.

However, there will not be enough yuppies and out-of-staters to keep control of City Hall and avoid the Detroit death spiral of property tax hikes, poor schools, bad crime and service cuts, unfortunately.  the growth is not nearly enough and with Rauner and Rahm fighting rather than luring businesses to Chicago, that is not going to change any time soon.

The poor on welfare and reliant on other government assistance are not the people moving out of Chicago. The poor will quickly outnumber the rich in Chicago and they likely won't be voting for candidate's willing to hold the line on taxes, government assistance and pay and benefits for government employees. It is middle class taxpayers seeking lower taxes, better schools and less crime that are depopulating Chicago, Cook County and Illinois. Once a neighborhood loses its middle class taxpaying citizens, it might as well be Detroit when it comes to real estate values and tax revenues generated.  The north side then gets to make up the difference.