Ukranian Village is generally regarded as an immaculate neighborhood of mostly vintage brick and greystone buildings on standard city lots. Just south of Wicker Park, it is a popular destination bounded by Chicago Avenue and Division (800 to 1200 North) and Damen to Western (2000 to 2400 West).
Like Wicker Park and Bucktown to the north, "UK Village" is so popular that property owners west of Western (the official western border for all 3 of these areas) like to refer to their neighborhoods as "West Bucktown" or "West Ukranian Village." The whole area - east and west of Western - has seen lots of remodelling and new construction over the years.
If you are looking for a great investment property in that general vicinity, call Ellen at 773-758-3950 about her listing at 2451 West Rice. It is a brick 3 flat for only $500,000. It needs work but it is a steal!