Appraisal Research Counselors

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1 Appraisal Research Counselors 400 E Randolph Street, Suite 715 Chicago, Illinois T: F: Click here to view AppraisalResearch.com Professional Service Since 1968

2 On the right track ; Next stop: a great apartment that makes commuting convenient track:[chicago Final Edition] Annemarie Mannion, Special to the Tribune. Chicago Tribune. Chicago, Ill.: Aug 15, pg. 1 Full Text (2344 words) Copyright 2003 by the Chicago Tribune) Special section: Renters Guide. Whether they are red, blue, orange, brown, green or purple, the arteries of the Chicago Transit Authority's elevated lines extend into many of Chicago's lesser known neighborhoods, making them spots that renters should consider when searching for an apartment. For instance, Lincoln Square and Portage Park are not trendy neighborhoods, but these areas, as well as Andersonville, Chinatown, Bronzeville and Little Italy, each come with a distinctive character that's worth checking out. Look beyond Lincoln Park, Lake View and Wrigleyville, and the benefits may include less traffic and general congestion, cheaper rent and even a parking spot, either on the street or in a garage. "My sense is that you can get more for your money, cheaper rent and a little less congestion," said John Jaeger, vice president of Appraisal Research Consultants, a Chicago-based firm that studies the rental market. As pricey neighborhoods get even pricier, developers look to renovate buildings in lower-profile neighborhoods, which provides another benefit for a venturesome renter. "You might get an apartment that's newly renovated or in really good condition because developers are jumping into these markets," Jaeger said. Lincoln Square Take Lincoln Square--not to be confused with Lincoln Park, that magnet for young professionals. Running roughly from Irving Park Road to Foster Avenue and taking in the main arteries of Damen and Western Avenues, Lincoln Square exudes a quaint European flavor with its German restaurants and small cafes that offer tasty pastries and coffee, said Tony Pehar of S&P Management in Chicago. Instead of spending the time circling a block looking for a parking spot, "there are little bars and restaurants where you can hang out with your friends, listen to live music. It's not as much hustle and bustle as in Lincoln Park," he added. The housing stock includes vintage buildings, two- and three- flats, and larger apartment buildings, such as one owned by Pehar's company at W. Gunnison St. Rents for one-bedroom apartments in the 44-unit building are $825 to $925 and cover 600 to 700 square feet. The nearest "L" stop is a few blocks away on the CTA's Brown Line at Western Avenue. Marcia Streicher lives in a one-bedroom unit in a courtyard building called Fiona's Place in Lincoln Square. "This is a neighborhood that has little touches of Europe," she said. "I live here so I can go to a grocery store besides a national chain store to buy fresh produce or international foods at a reasonable price." Many people of all nationalities have put down roots here. "This is one of the few neighborhoods where you'll see three generations in the same neighborhood," she said. Portage Park

3 This neighborhood of Chicago and California-style bungalows, brick and stucco houses, two- and three-flats is bounded by Cicero Avenue on the east, Central Avenue on the West, Grace Street on the south and Montrose Avenue on the north. In addition to being close to the Addison Street stop on the CTA's Blue Line, Portage Park is just six blocks west of the Kennedy Expressway. Even though its location could hardly be more convenient, "People don't even know where Portage Park is. People don't realize there's life west of the expressway," said Carlos Medina, owner of two five- unit brick buildings at 4815 W. Cornelia St. And a vibrant life it is. Medina said this neighborhood of tree- lined streets is made up of old-timers joined by younger families. "There are people who've lived here forever. And you'll see a lot of families walking around," he said. Portage Park is also home to a park of the same name at 4100 N. Long Ave. It has an array of sports facilities, including an Olympic- size swimming pool, football and soccer fields, playgrounds, a bike path, horseshoe pits and baseball fields. A vintage apartment in Portage Park, such as the units that Medina rents, boasts old-fashioned features that would come with a heftier price tag in better-known neighborhoods. A two-bedroom unit with hardwood floors and spacious rooms that he recently rented went for $925 a month. The best way to get a feel for Portage Park, he said, is to walk through the neighborhood. It's also the best way to find an apartment because many owners simply post signs. Gil Garcia and his wife, Juanita, have lived in Portage Park for three years. They moved from Berwyn and discovered the neighborhood by accident because Juanita wanted to live closer to relatives. Gil Garcia said he likes the area's diversity. "The area is changing," he said. "It's basically Czech and Polish people. But there are a lot of Latino people too. It's becoming a melting pot." Andersonville Bounded roughly by Winnemac on the south, Elmdale on the north, Ravenswood on the west and Magnolia on the east, the community of Andersonville is billed as a village within the city. The Argyle stop on the CTA's Red Line serves the community that was first settled more than a century ago by Swedes. Although it still has a focus on Swedish culture--it is home to the Swedish American Museum at 5211 N. Clark St.--this neighborhood has welcomed diversity as it has evolved, including various ethnic groups and a large gay and lesbian population. "When I think of Andersonville, I think of eclectic," said Peter Lazzari, who owns Fiona's Place, a 24-unit building at 1466 W. Argyle St., which was renovated recently. The units, which rent for $550 to $620, have maple cabinets, granite countertops, hardwood floors and ceramic tile entryways. Ronni Vanna, a bartender at a local restaurant, has lived at Fiona's Place for 2 1/2 years.vanna said she was drawn to the neighborhood "because I had just gotten a job here. And I was tired of living in Lincoln Park. Andersonville just seemed really neighborhoody." She also finds the neighborhood's diversity appealing. "You've got Koreans, Hispanics and definitely the Swedes," she said. "You've got the kids right out of college trying to make it and professionals who are making it. You have people following traditional lifestyles and alternative lifestyles. They all blend together and it works." She fell in love with her apartment because it has "great energy. It's very warm. It's very inviting...i can see myself staying here a long time." Bronzeville The 35th Street stop on the CTA's Green Line is in the heart of the historic Bronzeville neighborhood, south of McCormick Place Convention Center and north of the University of Chicago.

4 Bronzeville is known for its beautiful boulevards, lovely old homes and proximity to the lake and Loop. The neighborhood was once a thriving African-American metropolis with a rich cultural life that drew the likes of Louis Armstrong, Richard Wright and Gwendolyn Brooks. Many buildings in this neighborhood "go back in history. There are graystones, brownstones and buildings with gargoyles on them," said Joy Thurmond, director of leasing services at Prairie Shores, a rental community at 2851 S. King Drive. This 19-story building offers wonderful views of Lake Michigan. Rents range from $580 for a studio to $1,740 for the most expensive three-bedroom unit. Bronzeville also is home or close to several colleges and universities: The Illinois College of Optometry, the Illinois Institute of Technology and the University of Chicago. Chinatown Chinatown, which is in the vicinity of Cermak Road and Wentworth Avenue, is only about 10 blocks in size. It is marked by the China Town Gateway, ornamental street lamps and carvings of Chinese dragons on sidewalks. In addition to ethnic cuisine, the community features a mix of tea shops, exotic food markets and boutiques. "It's very cultural, and we have lots of good restaurants and shopping," said See Wong, president of Richland Realty in Chicago. It is served by the CTA's Red Line, which has a stop at Cermak- Chinatown and is not far from the Halsted Street stop on the Orange Line. To find a unit for rent in Chinatown, Wong advised visiting a Realtor or strolling the neighborhood. There are five newspapers covering Chinatown, but since they are written in Chinese, they may not be helpful for most people seeking an apartment. Units for rent, according to Wong, are likely to be condominiums that were purchased as investments. He owns a three-bedroom unit in a 16-unit, elevator building at 30th and Wells Streets that's renting for $1,200 a month. "It's brand new construction and there's nothing blocking the city view," he said. Dian and Marcus Muhammad have lived in a three-bedroom, two-bath unit in Chinatown for a year. Dian is a recruiter at Mt. Sinai Hospital in Chicago. Her husband is a writer. The couple pays $1,000 a month. "It's a good deal," said Dian. "It's new construction. We have a washer and dryer in the unit, and we have reserved parking at no [additional] cost." The unit also offers a view of the cityscape, including the Sears Tower. She likes the Chinese restaurants the area is known for and lesser-known attractions. She said, for instance, that people sell produce from cars and vans. "It's not advertised," she said. "It's just something you see on the street." Pilsen Bounded by Damen Avenue, 16th Street, Canal Street and the south branch of the Chicago River, Pilsen has welcomed immigrants of many nationalities for more than a century. Today, it is home to The Mexican Fine Arts Center at 1852 W. 19th St. and is known as a center of Hispanic culture and a colorful community where artists gravitate, drawn by large units where they can live and work. Pilsen is "a hidden gem. There's a ton of culture, great restaurants and parks," said Steve Olsher, president of Bold Development, which recently rehabbed the Bishop Street Lofts. The 20-unit building at 18th Street and Blue Island Avenue has one- and two-bedroom apartments with rents ranging from $795 to $1,375. The lofts have hardwood floors, exposed brick walls and heavy timber wooden beams. The CTA's O'Hare-Congress-Douglas rapid transit line has a stop at 18th Street, in the northwest corner of Pilsen. Jay Kim recently moved from a one-bedroom unit in downtown Chicago to a one-bedroom loft at the Bishop Street Lofts in

5 Pilsen. Kim, who is pursuing a master's degree in industrial design, said he was attracted to Pilsen because it's near the Illinois Institute of Technology. The rent also is less expensive. He is paying $825 for a one-bedroom loft, compared with $1,200 for his former apartment. He also likes the feel of the Pilsen area."i like the neighborhood. It's less commercialized. I haven't seen a Starbucks or a Gap yet," he said. Little Italy Concentrated around Taylor Street, Little Italy once was an expansive community of Italian immigrants. The neighborhood was reduced in size by the construction of the University of Illinois campus and yet the pulse of Little Italystill beats. Known for its restaurants, the neighborhood has welcomed a revival spurred, in part, by professionals from the university and hospitals like Rush Presbyterian Medical Center, which is just a couple of blocks away. Brick and frame structures have been rehabbed, yet the neighborhood has retained its friendly atmosphere. "It's just a nice place where people still sit outside and say, `Hi' to you," said Donna Sturma, leasing coordinator for New West Realty. The company manages and leases apartments. The company has 120 units for rent in Little Italy and nearby neighborhoods, Tri-Taylor and University Village. The units represent a wide range of housing, from newly constructed townhouses to vintage two- and three-flats. And Sturma said you will get more for your rental dollar than elsewhere in the city. "In Lincoln Park, you have to spend $1,300 to get a one-bedroom. Here, in Little Italy, you can get two or three bedrooms for that price, with parking." And the resurgence that has helped make this neighborhood inviting continues. Sturma has worked in the area for 15 years and has observed the revival first-hand. "There are many streets that were run down," said Sturma. "Now they're beautiful. Every home on them has been rehabbed or is brand new." The neighborhood is close to the Ashland Avenue stop on the Green Line or the Polk and Medical Centers stop on the Blue Line. Eva Verta lives in a six-flat on Taylor Street in Little Italy. She has lived in her two-bedroom unit for seven years. She likes the neighborhood "because it's homey. There are a lot of young people in college and there are people who've been here a long time. They tell stories about what the neighborhood used to be like." Verta, who is a teacher, also likes the neighborhood's central location. "I can pretty much get anywhere in the city for a $10 cab ride," she said Some Chicago neighborhoods and their CTA stops Lincoln Square has a European flair and is a quick commute downtown. Andersonville: Ronni Vanna likes the feel of the neighborhood. "I can see myself staying here a long time," she says. Portage Park: Juanita and Gil Garcia of Portage Park.Gil Garcia says he enjoys the neighborhood's diversity. Little Italy: Known for its restaurants, the neighborhood has recently experienced a revival. Pilsen: Jay Kim says he saved money by moving from the Loop to a Pilsen loft. Bronzeville has beautiful boulevards, lovely old homes and is close to the lake and Loop.

6 [Illustration] PHOTOS 5 GRAPHIC; Caption: PHOTO (color): CHINATOWN: Dian and Marcus Muhammad live in a three-bedroom condo in Chinatown, next to the CTA's Orange line.the couple pays $1,000 a month in rent. PHOTO (color): Andersonville: Ronni Vanna likes the feel of the neighborhood. "I can see myself staying here a long time," she says. PHOTO (color): Portage Park: Juanita and Gil Garcia of Portage Park.Gil Garcia says he enjoys the neighborhood's diversity. PHOTO (color): Pilsen: Jay Kim says he saved money by moving from the Loop to a Pilsen loft. PHOTO: A vintage apartment in Portage Park, such as this two- bedroom unit that Carlos Medina Jr. rents out, boasts old-fashioned features that would come with a heftier price tag in trendy areas. Photos for the Tribune by Margo Cohn. Reproduced with permission of the copyright owner. Further reproduction or distribution is prohibited without permission. Subjects: Locations: Chicago Illinois Companies: Chicago Transit Authority-CTA (NAICS: , , Duns: ) Article types: Feature Section: Renters Guide ISSN/ISBN: Text Word Count 2344