Well, there are a lot of city officials who live near me in the super-nice part of Austin (Midway Park Blvd. and Race St. between Austin and about Menard), just to reap the cheap real estate taxes, nice houses with big yards, and proximity to Oak Park.
As a resident of the regular part of Austin, however, I love it, although it is not "nice" in the normal sense of the word (it is still in the process of revitalizing). Just nice big old houses (mostly in need of repair), huge yards, tons of parking, close to the el, and really, really affordable. If you can handle a bit of grunge around the edges, I really recommend the "regular-folks" part of our neighborhood.
There is also the "Island" neighborhood which is technically a part of Austin which is also pretty nice (it's between 290 and Roosevelt and Austin and Central).
Galewood (north of North Avenue and directly north of Oak Park) also can be nice, but it is sort of block by block.
For reference, Austin divides Oak Park and Chicago.