5 Top-Selling Neighborhoods in Chicago
Homebuyers have hundreds of neighborhoods to choose from in Chicago. You can look for a condo with a view of downtown, a single-family home complete with a yard and a garage on the Far South and North Sides, or a historic two-flat with a reasonable commute to the Loop.
To each their own, but certain neighborhoods have emerged as the most popular for homebuyers. These five neighborhoods had the highest number of home sales from May 1, 2018 to April 30, 2019, according to Neighborhoods.com data. Come see what all the fuss is about in each of these Chicago spots.
5. River North
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River North is the only top-selling neighborhood that doesn’t have its own slice of lakefront, but it’s bordered on two sides by the Chicago River. It also has enough luxury cachet to be ranked alongside the likes of Lincoln Park.
Residents can stroll along both the Riverwalk and the storefronts of the Magnificent Mile. River North also has a major reputation as one of the central dining districts of Chicago. Sip on craft cocktails and indulge in any number of steakhouses just steps from home in this neighborhood.
Separate from the Loop only by the river and a series of iconic Chicago bridges, it’s no surprise that River North is a denser neighborhood with a proliferation of attached homes and a scarcity of single-family homes. Condos are the primary home style for sale in River North. You can also find repurposed lofts, vestiges of the neighborhood’s industrial history.
Commensurate with a downtown neighborhood, River North commands a fairly steep median sale price in the mid $400s, according to Neighborhoods.com data. Like the other top-selling neighborhoods, homebuyers have plenty of room to explore options that will fit a budget. River North has homes ranging from $178,000 up to $11 million currently listed on Neighborhoods.com.
4. Edgewater
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This North Side neighborhood falls fourth on the list of big sellers, attracting homebuyers with amenities like big beaches and historic charm. The entire eastern border of Edgewater runs along Lake Michigan, and the neighborhood includes the smaller and eminently hip pocket neighborhood of Andersonville.
The lakefront is undoubtedly Edgewater’s most recognizable feature. Apartment and condo towers sit within easy walking distance of the sand and the waves. As you move further into the interior of the neighborhood, you’ll find a greater variety of home types, including single-family homes.
Whether you’re thinking of coveted beachfront property or somewhere with a little more space, this neighborhood offers reasonable prices for homebuyers. Edgewater is the least expensive neighborhood on this list of top-selling neighborhoods, with a median sale price in the low $200s. Homebuyers with a budget in mind will find prices as low as $85,000, while luxury buyers can browse listings that hit nearly $1.5 million.
3. South Loop
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As a part of Chicago’s downtown heart, homebuyers interested in this neighborhood will find exclusively attached homes—many in sleek condo towers boasting views of the lake, the river, or Museum Campus.
This central neighborhood is not one of the city’s largest, but it does hold major appeal for homebuyers seeking the convenience of downtown access. You’ll find a large number of professionals residing here, as well as college students living near the South Loop campuses of Columbia College and Roosevelt University.
When it comes to feeling out the neighborhood price, many homebuyers may be pleasantly surprised at how affordable the South Loop can be, especially compared to its West Loop and Loop counterparts. The median home sale price in the South Loop is in the mid $300s, with current prices ranging from $134,900 to north of $5 million.
2. Lincoln Park
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This North Side neighborhood is one of the first names in Chicago luxury living, but it’s home to both working professionals and college students (thanks to the DePaul campus). Though not quite as large as Lakeview, the borders of Lincoln Park still hit both the river and the lake.
Lincoln Park homes conjure images of posh brownstones and luxury condos with a view of Lake Michigan, but homebuyers will still find more modestly priced condos among the multimillion-dollar price tags. No matter where you live in the neighborhood, you’ll have ready access to its ample greenspace and impressive lakefront.
Some prospective homebuyers might have sticker shock from prices that reach as high as $18 million, but the median home sale is in the mid $500s, and current prices are as low as $136,900.
1. Lakeview
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Lakeview takes the real estate cake with more than 1,000 home sales between May 1, 2018 and April 30, 2019. Sheer size could be part of the reason this North Side neighborhood attracted so many homebuyers. Lakeview sprawls all the way from the lake to the Chicago River, encompassing smaller sub-neighborhoods like Wrigleyville and Boystown.
As one of the city’s larger neighborhoods, Lakeview offers homebuyers plenty of home styles to choose from and a vibe that changes depending on where you settle in the neighborhood. The eastern edge of Lakeview offers more high-rise condos with a view of the blue waters of Lake Michigan. Wrigleyville offers a raucous party style that hardly ever sleeps. And western Lakeview has a quieter feel with homes that tend more toward low-rise flats than multi-story towers.
Lakeview is one of Chicago’s more expensive neighborhoods with a median home sale price in the low $400s. Yet, the variety of home styles and sizes means there’s a big budget range to work with. Current prices listed on Neighborhoods.com start at $90,000 and go up almost to $4 million.