This area is very very hot in the Chicagoland area, and is withing walking distance to the metra and a downtown with tons of shops, ect. The schools, ect are top notch.
We found a home in our price range, with no work to be done....but...its on a busy road. It does NOT bother us at all...but is it a poor investment IF we do plan on staying there awhile. There are larger homes on this same street that sold in the millions...this house is an old small victorian (restored) and is going for 400K or so. Opinions appreciated

just make sure you can drive in and out easy

You should consider what your target market at sale would most likely be, and how large it is compared to the major buyer markets.

Example, in my area... families tend to avoid busy streets due to child safety concerns. Younger and Older couples have less of a problem and may actually prefer the busier more convenient areas.

Identify who your future buyers will probably be and if the size of that buyer market is good enough your investment potential is better. Look at who is now living in the area.... that is probably a good indication.

Well the thing is I do have young children...4 and a 2 year old. I just know how to keep an eye on them...this road is in the front on the house and the back yard is long and fenced in. I guess the market would or could be a very young couple with no children or an older could with children on the way out--I dunno.
This house , if it was on the next street over would probably go for 450s .

I have had experience with some homes like this, and my buyer's seemed to shy away from that

Better check the zoning in the surrounding area. If its that busy, it could be rezoned for commercial. Of course, that may not be such a bad thing as far as property value.

If you have doubts, then it might not be right for you.

I lived on a busy road growing up.... you get used to it. When it came time for my parents to sell the house some people didn't want to look, while others did'nt care about the road. House was priced accordingly. It sold. Everything is relative.

Not very likely on the zoning change. Takes far more than a busy street to get a change to commercial.

In my option the one thing to keep in mind is to pick your time to sell. If it was a buyers market in your area vs. the current sellers market, you probably wouldn't be buying this place. Why? You'd have way more options.

So, just keep in mind when it comes time to sell you may have to wait for another sellers market.

The other thing to keep in mind is price. Any home will sell for the right price. You mentioned it's much cheaper than other homes in the area. You are going to have to price it cheaper than other homes in the area when you sell as well. You'll have to keep this attitude when it comes time to sell.

I've sold homes on busy roads before and the biggest challenge for the seller is to price there home 20-30% below other homes in the area that are not on a busy road. If you know this going in, it shouldn't be a problem. There is always someone that will want more house for less money in exchange for being on a busy road.

I hope these thoughts helps you,

Corey