|34 W. 114th Street|
This home is in Chicago's Roseland neighborhood, located at 34 W. 114th Street. So, it's literally on the block just west of State St. Point of fact. State Street is basically Chicago's ground 0. Anything east of it has an E. on the street number, and anything west has a W. on the street number.BTW, if you're confused by what you're seeing next to up it's basically supposed to be an emoticon denoting excrement.
I love research. So I did some digging. The homes in this area are cheap. This home is not for sale, but 30 W. 114th St. is asking $38,000, 41 W. 114th is asking $15,000, and 117 W. 114th St. is asking $17,000.
Whenever there is a census, there is a book that has come out called the Local Community Fact Book. I'm basically missing the version with the 1970 census stats, as well as the 2000 and 2010 versions. Not sure if books were made after the 2000 and 2010 censuses.
Each neighborhood in the Community Fact Books is divided into census areas. In the area where this home is located, in 1960 the census tract was 100% white and the median price of a home was $13,000. By 1980 the census tract changed to 96% black, with the median house price being $28,800. So, in 20 years the median price barely doubled.
By 1990, the census tract containing this home was 99% black with the median value being $45,500. In 1960, 58,750 people lived in the Roseland community of Chicago. 77% were white and 23% were black. In 1970, 62,512 people lived in Roseland. 44% were white and 55% were black. By 1980, 64,372 people lived in Roseland. 99% were black. In 1990, 56,493 people lived in Roseland. 99% were black. I couldn't find the year 2000 info. The year 2010 showed Roseland contained 44,619 people and 98% were black.
As the population continues to drop, as well as the value of homes, what do you think will happen? Desolation like Detroit, or people sick of paying ridiculous prices for homes and having huge student debt, start buying in here and fixing 💩up?
All the same this is quite an interesting idea? Home values drop as you still illustrated here so will Roseland be the next neighborhood for the rest of us?
The comments in that post seem somewhat dismissive, unless in the next decade the CTA finally builds and operates the Red Line extension. Granted though this is still a long way from downtown Chicago, however with this extension residents will get much easier access to downtown Chicago.
As with all things however all we can do is wait and see.
On a related note marquisdefacade had news on the blue "White House" that we've been following. It had been sold earlier this year. Also related to this perhaps we're seeing something similar in Englewood, property owners taking advantage of the depressed housing prices.