Wildwood is one of 5 micro-neighborhoods in Edgebrook, which is located in Chicago's northwest neighborhood of Forest Glen. Forest Glen is one of the 77 officially defined City of Chicago communities (area #12).
The boundaries for the Wildwood neighborhood area are Devon Avenue (6400 N) to Estes Avenue (7100 N), and Lehigh Avenue west to Caldwell Ave, and the zip code is 60646.
Wildwood is a charming area characterized by predominantly post-war housing stock with lots of variety of styles. The interesting homes and well-manicured tree-lined streets together create an atmosphere of stately charm. It is a relatively quiet and peaceful area with good schools and parks.
Sometimes the perfect deal just isn’t out there, or perhaps you're not completely convinced or motivated and feel that waiting may be a better idea. Maybe you want to see if interest rates go down a little more, which seems unlikely in the near term since they have just started inching up.
There are some significant financial factors based on timing that are working against you as you wait.
1. Inflation. If you’re not a homeowner, you’re not benefiting by the increase in value caused by inflation. If you wait 6 months to buy a $200,000 house and inflation raises that price by only 5% annually, you’ve missed out on $5000 “FREE” dollars. Instead of you getting it down the road, you’re giving it to the current owner now. Prices have gone up nationwide an average of 17% over the last three years. View the graph to see Chicago's price appreciation.
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