If you want to lock in extremely low housing costs in a decent area you might consider a close look at parts of Morgan Park.
A 2-bedroom, 2-bath condo at 2014 W 111th St, a half block from the Metra station pictured above, is being offered for $29,500 under the Fannie Mae HomePath program, an indication that it’s in livable condition. Pay cash for the unit and, with monthly assessments of $334 and annual real estate taxes of $759, your costs come in at about $400 a month. You’ll also find other low-priced condos in the area.
Metra’s Rock Island District line will take you downtown in a little over half an hour, and an I-57 interchange is nearby.
The Walker Public Library is a half a block away in the opposite direction from the Metra station. The somewhat hilly terrain, the grounds of Morgan Park Academy, interesting old churches and varied housing stock contribute to the visually rich surroundings. The Beverly Arts Center is a few blocks west, along with a good mix of shopping and restaurants along Western Avenue.
You can see a great deal more of Morgan Park in the Flickr album on our neighborhood page.