Choosing From 3 Chicago Neighborhoods

Chicago suburbs have a number of pros such as less traffic and congestion and more bang for your buck when it comes to home prices and apartment rental rates. Unfortunately, with the exception of suburbs such as Evanston, Skokie and Oak Park, most Chicago suburbs are located too far from Chicago’s most popular points of interest. Chicago is famous for the Magnificent Mile, Millennium Park, and the Art Institute, but the city’s main hub, downtown, is the place where millions flock each day for work or play.

If you work and play in or anywhere near downtown Chicago (also called “the Loop”), there are several top neighborhoods that offer easy access, plus their own unique scene. First up is the Lakeview/Lincoln Park area.

1. and 2. Lakeview/Lincoln Park

Lakeview and Lincoln Park are so close together that most natives refer to Lakeview and Lincoln Park as if they were one neighborhood. Both areas are popular for housing hundreds of restaurants, offering all types of cuisines from to  AZ. Hip bars and clubs can be found on just about every corner as well as quick access to the coveted Chicago lakefront where bike paths and beaches abound.

Both areas feature numerous theater houses and direct access to Lincoln Park Zoo, the Top Chef featured Green City Market, Waveland Golf Course, Diversey Driving Range and Belmont Harbour Dog Beach. Lakeview is also home to Chicago’s largest gay community—Boystown.

Lakeview and Lincoln Park are two of the top areas in the city for flawless public transportation, plus high-priced real estate. More than a dozen bus lines run through these neighborhoods (night and day), offering rapid transit to downtown Chicago via scenic routes such as world-famous Lake Shore Drive or through scenic Lincoln Park Zoo. Several bus lines also travel right through one or more of the areas’ main drags including Clark Street, Broadway Avenue, or Halsted Street.

Homes in Lakeview typically list for an average of $462K. In Lincoln Park, the average list price is $718,947. Rental prices average $1,997 to $3,145 in Lakeview and $2,395 to $2,725 in Lincoln Park.

3. Old Town

Head about 5 to 10 minutes south from Lincoln Park/Lakeview and you will find Old Town. Old Town is located just a  few steps away from one of the wealthiest neighborhoods in the city of Chicago —the Gold Coast. This means, Old Town offer is more affordable than the Gold Coast, but it offers access to everything the Gold Coast has to offer. Old Town features a wide variety of ethnic restaurants from Latin to Thai to Turkish, as well as a number of bars and entertainment venues. Old Town is home to Zanies Comedy Club, Pipers Alley, and Green City Market is a 5 minute walk from anywhere in the neighborhood. The elevated “L” (Sedgwick stop) services the area as well as around a dozen or so bus lines. Like Lincoln Park and Lakeview, Old Town is also home to taxis galore.

Homes in Old Town typically list for an average price of $807K. Rental prices average $1,200 to $2,000+ in this area, compared to a minimum of $1,700 in the Gold Coast up to $5,000.