Lakeview

Chicago, IL

Neighborhood Market Analysis

Q3 2025 Report
$625,000 (condos/townhomes); $1.2M (single-family, 2025)
Median Home Price
92 (Walker's Paradise)
Walkability Score
Public schools rated 7–9/10 on GreatSchools; strong reputation for elementary options.
School Rating

Location Overview

Neighborhood Boundaries

Roughly bounded by Irving Park Rd (north), Diversey Pkwy (south), Ravenswood Ave (west), and Lake Michigan (east).

Zip Codes

6061360657

Market Data Summary

Price RangeCondos: $350,000–$1M+; Single-family: $900,000–$2.5M+
Price per Sq Ft$400–$600 (2025)
Inventory LevelsLow to moderate; new listings absorbed quickly, especially below $1M.

Property Characteristics

Home Types & Architecture

Home Types

Vintage courtyard condosMid-century and modern high-risesThree-flatsSingle-family homesTownhomes

Architectural Styles

1920s brick courtyardMid-century modern high-riseChicago BungalowGeorgian row houseSpanish Baroque (notable commercial)Classical Revival

Property Details

Typical Lot SizesCondos: N/A; Single-family: 25x125 ft standard city lot
Home Age Range1920s–present; many buildings 50–100+ years old, with new luxury construction since 2015
Construction QualityMix of well-maintained vintage, gut-rehabbed, and luxury new builds. High-quality brick and stone exteriors common.

Community Profile

Demographics & Lifestyle

Demographics

Diverse, with a mix of young professionals, families, and LGBTQ+ residents. Median age ~34. Highly educated, median household income above city average.

Community Vibe

Vibrant, inclusive, and energetic. Strong neighborhood identity, active block clubs, and community events.

Typical Residents

  • Young professionals
  • Families with children
  • LGBTQ+ community
  • Long-term residents

Family Friendly

Very; multiple parks, playgrounds, and family events. Good access to schools and lakefront.

Amenities & Lifestyle

Parks & Recreation

  • Lakefront Trail
  • Belmont Harbor
  • Wrigley Field
  • Lincoln Park

Dining Options

  • The Chicago Diner
  • Crosby's Kitchen
  • Coda di Volpe
  • DMK Burger Bar

Shopping Centers

  • Southport Corridor
  • Broadway commercial district
  • Belmont Avenue shops

Local Businesses

  • Intelligentsia Coffee
  • Southport Grocery & Cafe
  • Music Box Theatre
  • Unabridged Bookstore

Education & Schools

Public schools rated 7–9/10 on GreatSchools; strong reputation for elementary options.
Overall School Rating

Elementary Schools

  • Nettelhorst Elementary
  • Blaine Elementary

Middle Schools

  • Nettelhorst Elementary (K-8)
  • Blaine Elementary (K-8)

High Schools

  • Lake View High School
  • Lincoln Park High School (selective enrollment nearby)

Private Schools

  • St. Andrew School
  • Bernard Zell Anshe Emet Day School

Transportation & Accessibility

Transit & Roads

Public Transit

  • CTA Red, Brown, Purple Lines (Belmont, Addison, Southport)
  • Multiple CTA bus routes

Major Roads

  • Lake Shore Drive
  • Clark Street
  • Broadway
  • Irving Park Rd

Commute & Walkability

Commute Times15–25 minutes to downtown by train; 20–40 minutes by car depending on traffic.
WalkabilityExcellent; most errands and entertainment accessible on foot.
ParkingChallenging, especially near lake and Wrigley Field; permit and paid street parking common.

Marketing Intelligence

Target Buyer Types

  • Young professionals
  • Move-up buyers
  • Investors
  • Families seeking city living

Key Selling Points

  • Proximity to lakefront and parks
  • Historic and architectural diversity
  • Vibrant dining and shopping
  • Strong community identity

Pricing Considerations

Price competitively for condition and location; renovated vintage units and new construction command premium.

Common Objections & Response Strategies

Objection: Parking is difficult.

Response Strategy:

Highlight proximity to public transit, bike lanes, and walkability. Suggest nearby parking rental options.

Objection: Older buildings may need repairs.

Response Strategy:

Emphasize recent updates, building reserves, and the value of vintage character. Provide inspection reports.

Objection: Noise from nightlife or Wrigley Field.

Response Strategy:

Point out quieter streets, soundproofing upgrades, and community event calendars.

Investment Insights

Investment Potential

Appreciation Potential

Strong, with consistent 3–5% annual appreciation over past 5 years. High demand for both rentals and ownership.

Rental Demand

Very high, especially for 1–2BR units and near transit. Vacancy rates below 4%.

Buyer Competition

Intense for well-priced, updated properties. Multiple offers common below $1M.

Best For

  • Young professionals
  • Families seeking urban amenities
  • Investors targeting stable rental income

Potential Concerns

  • Older buildings may need updates
  • Parking limitations
  • Noise near nightlife and stadium

Professional Recommendations

1

Leverage hyperlocal market data to set realistic pricing and manage client expectations.

2

Stage homes to highlight unique architectural features and outdoor spaces.

3

Educate buyers on building age, reserves, and upcoming assessments.

4

Promote the neighborhood's walkability, amenities, and school quality in marketing materials.

5

Network with local businesses and community groups to enhance listing exposure.

Competitive Analysis

Comparable Markets

  • Lincoln Park
  • Roscoe Village
  • Uptown

Market Positioning

Lakeview is positioned as a vibrant, accessible, and architecturally rich neighborhood with strong appreciation and lifestyle appeal.

Competitive Advantages

  • Lower price per sqft than Lincoln Park
  • More diverse housing stock than Roscoe Village
  • Stronger nightlife and retail than Uptown

Price Comparison

Median prices 10–15% below Lincoln Park, 10% above Uptown.

Investment Metrics

4.5–5.5% for multi-family and condo rentals (2025)
Cap Rates
5–6% gross annual yield on well-located 2BR units
Rental Yields
18–20
Price-to-Rent
Positive cash flow possible with 20% down on updated units; best in smaller multi-family properties.
Cash Flow
3–5% annual appreciation expected through 2027.
Appreciation

Buyer Journey Insights

First-Time Buyers

Lakeview offers affordable entry points for condos, strong amenities, and easy transit. Education on HOA and building age is key.

Move-Up Buyers

Wide selection of larger condos, townhomes, and single-family homes. Emphasize school quality and lifestyle upgrades.

Downsizers

Vintage elevator buildings and new luxury towers appeal; highlight walkability and low-maintenance living.

Investors

High rental demand, stable returns, and low vacancy. Focus on updated units near transit.

Relocators

Lakeview's central location, diverse housing, and vibrant culture make it attractive for those new to Chicago.

This neighborhood analysis was generated using hyperlocal data and AI intelligence.

Neighborhood conditions change - consult with local real estate professionals for the most current information.

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