Posted by beck on May 26, 2006 at 18:26:14:
In Reply to: Rent in Lincoln Park posted by Alicia on May 21, 2006 at 20:29:43:
: Hi Everyone,
: Thinking about buying in the Lincoln Park area. Are rents for 1 BR apt reasonable? Seems like a good neighborhood but I want to know what its worth?
The rental market does not seem on par with the buying price of an apartment here, yet. It seems generally cheaper to rent than to buy once you factor in the taxes, the maintenance fees and the mortgage right now. A one bedroom seems to be going for 150000-250000 but rentals for a one bedroom seem to be between 950-1300. On the plus side, if you do own your own condo then hopefully you will sell it for a profit, on the negative, you will always have to pay maintenance and taxes which in some cases can be as much as rent alone. I have lived here for over 6 years now and I will say that there have been some noticable improvements and I really have developed an affinity for this part of town.
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