The western suburbs were hit hard by the real estate crash after 2008. In Riverside, North Riverside and Brookfield, homeowners saw the values of their homes plummet by 30 percent or more. Foreclosures were rampant and continue to be a problem throughout the area.
But Chicago Magazine has spun a positive outlook on the otherwise depressing real estate news homeowners have been receiving lately. At least in Brookfield.
Chicago Magazine listed Brookfield as one of three suburban villages where first-time homebuyers can find great deals. The magazine touts the village’s leafy setting, proximity to Brookfield Zoo and inventory of solid, affordable housing stock: “You can easily find a brick bungalow or a postwar Georgian for under $200,000, though the best deals are short sales or foreclosures that may require fixing up,” says Chicago Magazine.
The other suburban villages where first-time homebuyers an find a deal are Des Plaines and Forest Park, accoridng to the magazine.