Chicago has, and always will be a hot bed for Real Estate. As this city expands and adapts, neighborhoods once thought of as uninhabitable are now some of the fastest growing areas of the city. Below is a little bit about each hot neighborhood and why so many people are interested in these areas.
Bucktown/Wicker Park/West Town/Noble Square/Ukranian Village/Logan Square:
These neighborhoods, West of 90/94 highway, and generally east of Western Avenue were once seen as a place to party, but not to live. Prices in the mid 2000s were rock bottom and many homes were in disrepair. In the last 10-15 years, a spawning art scene and the low cost of living were attractive to artists, musicians, students and eccentric people looking for a good deal and to be surrounded by creativity and small businesses. Times have changed and now EVERYONE wants to be part of the eccentricity. Investors swooped in and transformed these neighborhoods into what is now the hottest place in Chicago to live. Prices are high for the most part, but in the surrounding areas, investments are cheap and there is room to make profits in time. If money is of no issue, Bucktown and Wicker are your best bets, but the other areas still have amazing deals and I know how to find them!
Lakeview/Old Town/Lincoln Park/ Roscoe Village/Southport Corridor/Gold Coast/North Center
I grew up in Old Town, so pardon if I am biased! Want to live in a large city, but feel like you’re in the nearby suburbs? These neighborhoods feature that. Tree lined streets with yards and room to expand. Great deals can be found here. Prices vary depending on location, but with easy access to CTA, you can get anywhere in the city in minutes. Easy lake access coupled with less foot traffic is a great place to start a family, or live in serenity while still being close to the loop. Tons of shops, restaurants, nightlife scattered here. This area is great to live in…I can attest. Haven’t moved from these neighborhoods my whole life!
Loop/ West Loop/Fulton District/South Loop/River North/Streeterville/River East
If urban city living is what you are looking for, these are the neighborhoods to be in. High foot traffic also means high end shopping, dining and nightlife. Costs are higher here, but you save time and money on the short commute into the loop. This area features mostly mid and high rises where assessments and taxes are not cheap, but these buildings are generally full of amenities (pools, doormen, workout rooms,sundecks, party rooms etc) which makes up for it. Great area if you want to be close to everything and able to commute to everything else.