Most Expensive Neighborhoods in Chicago IL

Located right on the shores of Lake Michigan, Chicago is one of the largest cities in the United States and has a reputation for delivering the very best of the country’s dining, art, culture, entertainment, and architecture. The Windy City is home to a number of neighborhoods, each of which has its own unique feel, go-to restaurants, local shops, and noteworthy attractions. Some of Chicago’s most desirable neighborhoods also happen to be some of the city’s most expensive, but for those looking to relocate to these Chicago neighborhoods, the steep price tag may very well be worthwhile.

Gold Coast

An historic district with charming streets and luxurious homes, Chicago’s Gold Coast is a neighborhood known for its gorgeous architecture, upscale restaurants, and local boutiques. The Gold Coast borders Lake Michigan and residents can delight in the area’s stunning views. The neighborhood’s residences vary in style, but the most noteworthy are the expansive and timeless greystones that have been beautifully maintained over the last century. The Gold Coast has excellent public schools, but is also home to a wealth of renowned private schools. The neighborhood offers a variety of homes in all styles and sizes, from one-bedroom apartments to large single-family homes. While apartments can be priced as low as the high $100s, grand, historic homes in the Gold Coast neighborhood can be priced as high as $15M.

River North

Known for its upscale eateries, trendy nightclubs, and lively bars, River North is one of Chicago’s most bustling neighborhoods, especially after hours. An epicenter of art and design, creative types flock to River North to enjoy close proximity to a multitude of art galleries, historical architecture, and museums. River North is also home to some of the city's most buzzworthy restaurants, and celebrity chefs have been known to set up shop in this must-visit neighborhood. Home prices in the River North neighborhood are indicative of the demand, as studio apartments are priced starting in the mid-$100s and larger homes in luxury buildings are priced as high as $9M.

Streeterville

Situated along Lake Michigan and bordered by the Magnificent Mile and Michigan Avenue, it’s hard to find a better location in all of Chicago than Streeterville. Some of the area’s most noteworthy landmarks include the Navy Pier, the East Lake Shore Drive Historic District, and Ohio Street Beach, which extends into Lake Michigan. The neighborhood is also where many of the city’s most impressive skyscrapers can be found, including the famed John Hancock Center, Water Tower Place, and 900 North Michigan Avenue. One bedroom condos in Streeterville are priced starting in the mid-$100s, however grander, more luxurious three and four bedroom homes can fetch prices into the $7M range.

Neighborhoods in Chicago With Luxury Homes

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West Loop

What was once an industrial zone has become one of the trendiest, most highly-sought after areas in The Windy City. Chicago’s West Loop is where locals and visitors will find some of the city’s most renowned dining as well as up and coming eateries, right along the famed Randolph Restaurant Row. In addition to world-class cuisine, the West Loop area is home to a wealth of local art, including bold, one-of-a-kind murals that have become neighborhood landmarks. Those looking to relocate to the West Loop neighborhood can expect to pay top dollar, as one bedroom apartments are priced starting in the mid-$200s while larger homes in more modern, luxurious buildings are priced as high as $6M and above.

Old Town

Beloved for its charming, picturesque streets lined with mature trees and unique shops, Old Town is a neighborhood that residents are excited to call home. The neighborhood features historic buildings, many of which reflect Victorian-era architectural styles. Those in search of a laugh flock to Second City comedy club, a neighborhood landmark and Chicago institution. Old Town boasts a number of quaint coffee shops, old-fashioned pubs, and cute eateries that blend old-world charm with modern city life. The neighborhood offers residents access to excellent schools as well as a wealth of cultural attractions. Prospective homebuyers can expect to pay top dollar for an address in Chicago’s Old Town neighborhood, with studio apartments priced starting in the high $100s and expansive townhomes commanding prices as high as $6M.

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Posted by Helaine Cohen on
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