Island City is a small village located in Union County, Oregon. Here are some pros and cons of purchasing real estate in this area:

Pros:
- Island City is a peaceful and quiet village, making it a good choice for those who value a serene environment.
- The cost of living in Island City is relatively low compared to many other areas in the region, making it an attractive option for those on a budget or looking to save money.
- The village is located near scenic areas such as the Wallowa Mountains and the Columbia River Gorge, making it an ideal location for nature enthusiasts and outdoor adventurers.
- Real estate prices in Island City are generally affordable compared to larger cities in Oregon, and there is a good selection of single-family homes and land available.

Cons:
- Island City is a small village, and for some, it may be too isolated or lacking in amenities.
- The economy in Island City is heavily reliant on agriculture and forestry, which may not be ideal for those seeking more diverse job opportunities.
- The weather in Island City can be unpredictable, with severe winters and hot summers, which may not be suitable for everyone.
- Island City is located in a seismic zone, which means there is a potential risk of earthquakes.

Overall, purchasing real estate in Island City can be a great choice for those looking for a peaceful and affordable place to live. However, as with any real estate investment, it's important to carefully consider all factors before making a decision.