Bronzeville's gentrification process may make it a favorable place to live

Investing in property is a significant undertaking, so you'll want to make sure your purchase is a sound choice. Of the real estate in Chicago, IL, you may want to consider city's South Side neighborhood of Bronzeville. The community began with the influx of African Americans who came to Chicago from the South at the turn of the 20th century, MSN Real Estate reports. By World War I, Bronzeville was one of the largest black neighborhoods in the city.

The area is undergoing a makeover, with construction and restoration projects fixing up the area's brownstones and townhouses. In addition, new condos are being constructed at high rates in areas where housing projects once stood, the news source reports.

Today, the neighborhood has an eclectic mix of housing options with the average sales price at $216,620, according to ZipDataMaps. The two-square-mile community is comprised of smaller sections like Grand Boulevard, Oakland and Douglas, all of which make of the Greater Bronzeville area. The median household income is around $41,344 a year, and with housing costs relatively low, the Bronzeville community may be the perfect area for first-time homebuyers looking to invest in property.