Astor Street, one of the Gold Coast’s most prestigious addresses (despite being a mere four blocks) has long been acclaimed for its architecturally significant real estate — not to mention the social status of its residents. But that aristocratic reputation belies its livability and charm. “It has such a different character than its neighbors, and it’s unusual for a Gold Coast street to have such a warm, human scale,” says Tim Samuelson, cultural historian for the City of Chicago.
You have to open your wallet pretty wide to buy a home in Winnetka, where recent data compiled by Homefinder.com shows that 78 percent of single-family homes cost more than $1 million. In fact, the average price for the 103 for-sale Winnetka listings analyzed by the site is $2.42 million — a whopping number that makes the town one of the top 10 luxury suburbs in America and the only one in the Midwest to make the list.
With demand high and supply low, it’s no secret that Chicago homes are selling fast. But new research from @properties, covering 20 city neighborhoods for the year-long period ending July 31, shows that the average townhome or condo goes under contract in 107 days, down from the 162 days it took during the same period last year. But things are moving even faster in West Town, where the average market time is just 76 days, making this neighborhood the hottest seller in the city.
Four neighborhoods — Bucktown, Wicker Park, Logan Square and Humboldt Park — are about to go from good to great when it comes to real estate, thanks to recent news that the long-anticipated adaptive reuse of the Bloomingdale Trail, newly dubbed “the 606,” finally broke ground.
Once known as the birthplace of politicians (including five Chicago mayors), the formerly Irish enclave of Bridgeport now boasts one of the most diverse communities in the city. It’s also home to a thriving arts scene anchored by the Zhou B Art Center and Bridgeport Art Center, which sit a block apart from each other on 35th Street, and to impresario Ed Marszewski, who owns the popular Maria’s Packaged Goods & Community Bar (960 W. 31st) and is working to turn the neighborhood into an entrepreneurial and cultural hub.
With its proximity to major sports venues, the lake, Grant Park, a burgeoning restaurant district and every major expressway, the South Loop is one of the more desirable neighborhoods in town. But to date, it’s been soft on those full-service luxury buildings that boast every amenity imaginable, which research shows is high on many buyers’ lists these days.
When the temperature soars, Chicagoans have long headed to the accessible waters of Lake Geneva, Wis., a mere 70 miles away. Though just 8.6 square miles in size, it boasts major assets that have made it an all-star draw since the late 19th century, when a “who’s who” of Chicago’s elite (think Wrigley, Schwinn, Maytag, Allerton and more) built lakefront estates, helping the charming town earn the moniker the “Newport of the West.”