Chicago’s West Elsdon experienced dramatic demographic change during the past decade, and was one of the city’s few Community Areas to gain population during that period. The Hispanic population of West Elsdon grew by nearly 75%, to 13,752 residents while the White population fell by nearly 50%.
The neighborhood’s more than 2,300 new residents were largely accommodated within the existing housing stock, but it did see some infill new construction. And, like all of Chicago’s second- and third-tier neighborhoods, that new construction has seen dramatic declines in value in recent years.
A single-family home at 3648 W 51st St that sold new for $481,500 in October of 2008 is now on the market as a price-reduced short sale for $279,000. The home has 3 bedrooms, 2 ½ baths, a 2-car garage and a basement that’s either “fully finished” or “unfinished” depending on which part of the listing info you choose to believe. It’s an “as is” sale.