Quote of the day: From the outside, in

In any kind of market, contracting or expanding, the same principles apply. Just as high prices used to drive people from the center out, things also contract in concentric circles, starting from the outside and moving in. I suppose there’s the potential for foreclosures in Lincoln Park, because it’s possible there were people who were stretching themselves just to live there in the first place. But it’s still centrally located, and it reigns supreme as a residential neighborhood, so you’re more likely to see markets take hits on the outside first, starting with the outer bounds of Wicker Park and Bucktown, eventually bleeding over into Lake View, and finally into Lincoln Park.

Garry Benson, president of Garrison Partners, on the Lincoln Park, Lake View, Wicker Park and Bucktown markets. We’re talking to Benson and several other seasoned real-estate pros for the October issue of New Homes, which focuses on the four big North Side neighborhoods. Keep an eye out for our feature story, which we’ll post later this month.

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