Millennials have finally surpassed baby boomers as the largest group of homebuyers, but that doesn’t mean boomers are out of the housing market. Some members of the older generation are looking to downsize from a big suburban home, others want to move closer to their kids and grandkids, and some just want a change of pace. While millennials might be the biggest group living in the city, Chicago still has plenty to offer baby boomers. Find out if this city is the right place for you. 

Finding the Right Home Price and Style

Townhomes in the Edgewater neighborhood

Some baby boomers are looking to retire any day now, but 65 percent of the generation plans to work past 65 or not retire at all, according to the Transamerica Center for Retirement Studies. What does that mean for members of the generation who are home shopping? In many cases, it means the price point is a top consideration. If you’re planning a move to the city with a budget in mind, it may make the most sense to look outside of the major downtown area. Neighborhoods like Edgewater (median sale price of $230,000) and East Side (median sale price of $124,000) have more reasonable prices.

When it comes to home style, baby boomers might be in the market to downsize. If that’s the case, the city’s neighborhoods have plenty of condos, two-flats, and smaller single-family homes.

Deciding How to Get Around

Chicago's Loop is great for anyone who wants to be close to multiple transportation options / Shutterstock

Half of older adults want a bus stop within a mile of their home, according to AARP. If you’re in this group, it likely means you want to ditch the car for public transit, which is certainly a viable option. The CTA, both the ‘L’ lines and bus routes, makes it easy to get around the city (plus, you don’t have to worry about the cost and hassle of parking). 

If boomers are looking for a home in a walkable area, some of the neighborhoods in the downtown part of the city are high on the list. For example, the Loop, South Loop, and West Loop are all highly walkable. These neighborhoods are also excellent options for boomers looking to shed lawn and large home maintenance responsibilities. All three neighborhoods have plenty of condo buildings. Plus, members of the generation still working would have easy access to downtown jobs. 

Many baby boomers are looking for ways to stay fit, whether they’re retired or not. Walking, driving, and public transit aren’t the only ways to get around Chicago. The city also has plenty of bikeable neighborhoods, and an increasing number of older people are getting on bikes, according to People for Bikes. Try Lincoln Park, which has more than 30 Divvy stations, or Humboldt Park, which has plenty of bike lanes and a bike shop.

Staying Active in the City

The Lakefront Trail is a great place to get some exercise and see some great views / Shutterstock

Baby Boomers who want to stay active will have no shortage of options in Chicago. The city’s park district operates pools where residents can swim for free or purchase a lap swim pass. If you want to be near a pool for the summer months, consider Woodlawn (home to the 50-meter Washington Pool) or Portage Park (home to the Olympic-size Portage Pool).

The city also has a proliferation of parks with paths perfect for jogging and walking. Humboldt Park has a park of the same name with 219 acres of open greenspace. Neighborhoods like Bronzeville, Lincoln Park, and Lakeview have access to the 18-mile Lakefront Trail, which offers a scenic route for walkers, runners, and bikers alike.

Finding the Right Neighborhood

A summer day in the Lakeview neighborhood / Shutterstock

Chicago has no one perfect neighborhood for baby boomers. It all depends on what you’re looking for in a home base. Maybe you have similar tastes to Bill Gates, who possibly bought a home near the University of Chicago in Hyde Park. Or, maybe you’re looking for somewhere quiet to settle down and enjoy an empty nest. If that’s the case, Lakeview could be the spot for you. Outside of the boisterous areas of Boystown and Wrigleyville, the neighborhood has no shortage of quiet, peaceful streets lined with condos and smaller single-family homes.