4 Bed, 5 Bath, 5600 Sqft
Named after the city’s largest lakefront park, Lincoln Park is considered by many real estate agents as the crown jewel of the city’s lakefront neighborhoods considered both the best suitable Chicago neighborhood to raise a family. Originally settled in the early 1850s, Lincoln Park is one of Chicago’s oldest communities. Lincoln Park’s boundaries are defined as Diversey Avenue to the north, Lake Michigan to the east, Clybourn Avenue to the west, and North Avenue to the south. Read more about the unique Lincoln Park Chicago real estate market.
Today, and for the last 25 years, Lincoln Park property values and prices increased dramatically; in the last 50 years with the pioneering urban renewal project of the LPCA, Lincoln Park condos and homes have become some of the most sought after in the city. Lincoln Park home sales have a full array of options at nearly all price points today: high-rise condominium units overlooking Lake Michigan, the park, and the downtown skyline, townhomes and row houses on quiet, tree-lined streets, rental apartments, and some of the city’s most expensive luxury homes. Lincoln Park also has a vibrant and diverse housing scene that is also home to DePaul University.
Many of the neighborhood's older, stately graystones, brownstones and brick walkups are rehabs, updated with modern conveniences and state-of-the-art amenities essential to today's lifestyle. While some are still private single-family residences, most of these vintage buildings have been split up into separate two- and three-bedroom units. The majority of studios and one-bedrooms can be found in Lincoln Park's stretch of mid- and high-rise condos that are generally limited to the eastern edge of the neighborhood, closer to the lakefront. You can typically get anything from a studio loft to a three-bedroom duplex. The buildings usually offer bonuses such as a pool, exercise room, tennis courts, garage parking, extra storage, doorman and roof-top deck. And some of the properties on the top floors afford amazing views of the water, which means you will have to pay more, but for a coveted window or balcony facing that kind of scenery, it is well worth the price.
Many of Lincoln Park's first inhabitants were immigrants who arrived on the scene in waves. Germans were the original inhabitants, coming to Chicago from their European homeland to break free of religious persecution and discrimination. Taking up with the existing local industry of farming, most of the new residents took to the fields and made a life for themselves in the agrarian society sprouting north of Chicago's bustling city center. Going hand in hand with the area's crop-based economy, manufacturing plants that produced agricultural goods went up along the Chicago River and Lincoln Park thrived as a small rural community.
As transportation advanced, connecting the pastoral northern region to downtown, an increasing number of people moved to the area in search of more space and less congestion. In 1859, the Presbyterian Seminary relocated from Hanover, Indiana to a new home in Lincoln Park, constructed on 25 acres of land donated by prominent men in the city -- Michael Diversey, Joseph Sheffield and William Ogden (who all have streets named after them now) -- at Fullerton and Halsted avenues, which is now the site of DePaul University. Situated in the heart of the neighborhood, the seminary brought roughly another thousand residents to Lincoln Park, many of Scotch-Irish heritage. More housing was needed so the seminary erected 55 homes in the vicinity around the seminary as well as a dozen and a half high-class residences that were referred to as the McCormick row houses, named after Cyrus McCormick who donated a large sum of money to the Presbyterian Seminary.
During the Great Depression of the early-1930s, Lincoln Park’s grand real estate rapidly declined in to tenement housing and high density sleeping rooms until after World War II, when the Lincoln Park Conservation Association was founded to rehabilitate the neighborhood with both private and public funds. With the dedicated efforts of the LPCA, the neighborhood was designated a conservation area.
Today, Lincoln Park is a very affluent area, but people are finding some unbelievable bargains right now in the neighborhood. Vintage building 1-bedrooms from the low-200s, 250s for a nice 2-bedroom, and luxury 3-bedroom condos in the 420-450,000 dollar range. If you want to be in the city, it’s one of the nicest parts of town. Lincoln Park foreclosures are great for empty nesters, retirees, first-time homebuyers. Currently 1-3 bedroom Lincoln Park homes are about $435,000 and the average price of a single-family home is about one and a half million dollars.
The neighborhood is home to one of the oldest zoos in the country; The Lincoln Park Zoo. It is one of the most popular and visited parks in the city, which also contains DePaul University campus. Lincoln Park real estate is luxurious and varied: a walk in Lincoln Park starts at Lake Michigan with high-rise condominium buildings enjoying lake, park, and downtown views. Further from the lake, Lincoln Park properties are more eclectic: from brownstone and greystone townhomes, to traditional Chicago three-flats, mid-rise and low-rise condominium building, vintage and modern mansions, and Lake Michigan high-rise buildings. Lincoln Park is known for its high-priced real estate but if you know the area, it can be extremely affordable.
In warm-weather months, we wait for Wednesdays and Saturdays to stock up on fresh produce brought in by local farmers to the popular Chicago's Green City Market, and moms, do not panic. In the winter, Lincoln Park boasts a wide array of things to do for the whole family! In addition to the winter-famous "Zoo Lights" presented by Charter One at the Lincoln Park Zoo, be sure to check out the Chicago Historical Society, the Lincoln Park Conservatory, the Lincoln Park Cultural Center, and the Peggy Notebaert Nature Museum. For more information about Lincoln Park Chicago real estate, contact us today at (312) 566-8141.
The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by brokerage firms other than Compass Real Estate are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing brokers. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed.
Listing information last updated on November 18th, 2019 at 2:35am CST.