Chicago Real Estate by Area
As the third largest city in the U.S., Chicago has a lot to offer by way of entertainment, employment and housing. With millions of people in the city, there is always a wide variety of housing accommodations for sale in the area. Whether you are looking for a condo, townhome, studio, apartment, single family homes or a mansion, there is probably a home somewhere in the city that can meet your needs. Chicago real estate really differs from area to area though. With Lake Michigan to the east, the city can be divided up into 4 separate sections: Central, North, West and South Chicago.
Central Chicago, which is also known as the Loop, is right in the heart of historic downtown. Consequently, the real estate options available in this part of town are predominantly studios, apartments and penthouses. They are also very expensive because they are so close to all the attractions of downtown city life. The Chicago River serves as a boundary to the west and Lake Michigan borders the Loop to the East. After Manhattan, Central Chicago is the second largest central business district in the US. It is also home to some of the tallest skyscrapers in the world.
North Chicago is the most popular area to buy real estate in Chicago. Despite the nation-wide housing slump over the past couple years, the number of house sales in North Chicago have continued to rise. The area is both quiet and beautiful because it is dotted with public beaches and parks and residents have some of the highest median incomes in the city. Several of the neighborhoods in North Chicago are Gold Coast, Old town, Lincoln Park, Lakeview and lake view. If you want to live in the north section and you want to pay the lower prices for real estate, look into homes that are further away from the city center.
West Chicago is most well-known for its ethnic diversity. Some of the neighborhoods in West Chicago include Wicker Park, Lawndale, Austin and Garfield Park. Crime has risen is some of the western neighborhoods while property values are rising in others. Make sure you do your research if you are looking for a home in West Chicago.
Although South Chicago has a reputation for crime and poverty, there are middle class and affluent neighborhoods in the area as well. South Chicago covers almost 60 percent of the city's land area and is home to some of Chicago's largest parks; Jackson and Washington Park. Most of the city's industry is centered in South Chicago.
No matter where you live, it is pretty easy to get around the city with the public transportation system in Chicago. Consequently, environmental features, school systems and real estate prices will probably be the most important factors to consider while you are looking for a home in Chicago.