Chicago Neighbourhoods and Real Estate

The city of Chicago has 77 community areas and a total of over 200 neighborhoods. While the community areas are well-defined, the municipalities, neighborhoods, and boundaries are fuzzy and dynamic. Neighborhoods here are oftentimes revived, renamed, and redefined by developers, landlords, and Chicago realtors for marketing purposes. Among the Chicago neighborhoods you may know are Beverly Woods, Buena Park, Clarendon Park, East Side, and others.

One of the most notable uptown neighborhoods in Chicago is Buena Park. This district offers a waterfront golf course, a beach, a dog park, many lively bars and restaurants, theaters and other entertainment venues. If you are a fan of the waterfront, Lake Michigan is sure to please you with its sun and surfing facilities. There is always something to do in the summer, as well as in the winter – there are many cozy, charming and warm pubs to visit during the cold months. A three-bedroom, two-bathroom apartment here costs $315,000 on average.

The neighborhood of Lakewood-Balmoral is situated east of Andersonville and west of Edgewater. This area was recognized by the Chicago Landmark Commission for its monumental architecture. The average price of a three-bedroom apartment here is $699,000. If you prefer to rent rather than buy, you can look for Chicago rentals in this area. A house with 5 bedrooms and 4 bathrooms can easily cost you around $4,500. For this price, you can find houses with a garage, fireplace, hardwood floors, whirlpool/ spa, and other interior features.

The neighborhood River North is located across from the Loop on the other side of the Chicago River. This neighborhood has a vibrant art community with galleries, production companies and other businesses, as well as architectural hallmarks like the Wrigley Building and the Trump Hotel and Tower, soon to be completed. The average price of a three-bedroom apartment here is $875,000. It is a little steep, but the real estate here is truly top-quality. This price usually includes one- or two-car garages, a rooftop deck, a laundry room, and many other amenities.

The name of Lakeview neighborhood is somewhat misleading because there are no views of the lake from anywhere. However, the district has plenty to redeem it, with an exciting night life, a trendy shopping area, great restaurants, theaters, concert halls, and more. You will find something for every musical taste here. Chicago real estate here is in high demand, from condos to apartments and renovated walkups. A new condo building in the heart of Lakeview with a granite and stainless steel kitchen, marble baths, hardwood floors, terrace and parking costs $365,000. It typically features two bedrooms and two bathrooms.

If you are looking for something cheaper, the northern suburb of Evanston would be a good choice. A two-bedroom, two-bathroom condo with a maple kitchen and floors costs just $169,000. The neighborhood is conveniently located just 10 miles from downtown Chicago. If you consider applying to Northwestern University, you will be glad to find out that it is located here.

Admittedly, Evanston is one of the cheapest North Shore suburbs. Wilmette and Winnetka are far more expensive and feature some exquisite residential properties that are worth every penny. If you are looking for Chicago luxury real estate, this is the place. Winnetka’s high school, New Trier, is one of the best in the country. Wilmette, on the other hand, has been ranked as the 7th top place for raising children in the United States. The area is also home to the Bahai House of Worship, Gillson Park, and three shopping centers.