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Old 10-12-2017, 09:59 AM
 
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We are looking to move closer to the lake and still have the ability to walk to the train. We are also downsizing and will soon be empty nesters. We've been going to open houses up and down the North Shore an LOVE the area. We want a vintage home circa 1920's preferably. What are the pros and cons of each town? Why are homes in Highland Park cheaper than, say Glencoe?
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Old 10-12-2017, 10:53 AM
 
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Default There is no set formula for "housing value"...

Quote:
Originally Posted by porky847 View Post
We are looking to move closer to the lake and still have the ability to walk to the train. We are also downsizing and will soon be empty nesters. We've been going to open houses up and down the North Shore an LOVE the area. We want a vintage home circa 1920's preferably. What are the pros and cons of each town? Why are homes in Highland Park cheaper than, say Glencoe?
If there was a "magic calculator" that could input all the variables it might assign A% to "perceived school quality" B% to "potential employers in commute radius", C% to "dining and entertainment", D% "home quality / condition" and when it got down to ZYX% for things like "odds of neighbor being a member of the same clubs you are " I suppose you could pinpoint every reason why homes sell for a certain price. Until that happens the broader measure often come down to "how many homes are available vs how many people want them". By this measure the smaller towns, with more homes fronting Lake Michigan, tend to be pricier than those served by schools of similar perceived quality.

As somebody whose kids have moved away and still lives in an area with rather well regarded schools I would further suggest that the complex question of how much you might pay in real estate taxes (the majority of which do flow schools) vs the value you may or may not get at the time of resale is also a big factor in pricing...

If you do all the investigations into what sorts of benefits there are for residents of each town regarding things like access to parks / beaches it is entirely possible that the "prestige" of some towns is offset by factors that matter to your circumstances.

As far as "walkability" it is generally accepted that towns that are bigger (Highland Park and Wilmette in particular) support more businesses...
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Old 10-12-2017, 01:08 PM
Status: "T.e.m.p. B.a.n.n.e.d" (set 27 days ago)
 
3,846 posts, read 2,461,000 times
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Quote:
Originally Posted by porky847 View Post
We are looking to move closer to the lake and still have the ability to walk to the train. We are also downsizing and will soon be empty nesters. We've been going to open houses up and down the North Shore an LOVE the area. We want a vintage home circa 1920's preferably. What are the pros and cons of each town? Why are homes in Highland Park cheaper than, say Glencoe?
HP is bigger and contains a greater variety of housing stock than Glencoe. It's also farther from downtown Chicago.

FWIW, LF (from your thread title) will have slightly lower property taxes- YMMV though.
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Old 10-12-2017, 01:11 PM
 
Location: Evanston & Lake Forest, Illinois
1,765 posts, read 963,813 times
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Quote:
Originally Posted by porky847 View Post
We are looking to move closer to the lake and still have the ability to walk to the train. We are also downsizing and will soon be empty nesters. We've been going to open houses up and down the North Shore an LOVE the area. We want a vintage home circa 1920's preferably. What are the pros and cons of each town? Why are homes in Highland Park cheaper than, say Glencoe?
North Shore native here. These are all very different communities. Some on the ground exploration should give you a better feel for each community, especially the housing stock, walkability, and community amenities. Winnetka and Glencoe are going to have the most 1920s era homes. Highland Park will have its fair share, but much of Highland Park's housing stock was built in the 1950s, 1980s, 1990s, and 2000s. Lake Forest and Wilmette are going to lean much more strongly on the 1900s and 1910s, which are more my cup of tea frankly. Each community has very different demographics. Highland Park, Glencoe, and west Wilmette are strongly associated with the Jewish community. Even within that demographic there is a distinct difference. Glencoe has historically been associated with Chicago's most elite Jews and is thoroughly dominated by Jews of the very liberal Reform variety. There are two very large Reform synagogues, and amongst Jewish congregations that's it. Highland Park has more of a mix, but was populated mostly by upper-middle class Jews descended from Eastern Europe, and therefore has been primarily associated with Conservative Judaism. West Wilmette has a similar demographic to Highland Park, and both west Wilmette and Highland Park now have Chabad houses. Lake Forest, Winnetka, and east Wilmette are much more heavily populated by traditional American Mainline Protestants. As such, these areas are more politically conservative and local activities are less likely to revolve around a religious meeting house. However, since you are empty nesters, I'm not sure this matters as much as it would if you had children. In general, housing prices will rise as you get closer to the city and inventory will be lower. Winnetka and Wilmette are going to be more expensive per square foot of home and land than Glencoe. Highland Park and Lake Forest are going to be less expensive than Glencoe by the same metrics. Lake Forest has a tremendous amount of housing inventory, especially at the high end. Lake Forest has roughly a year and half's supply of housing inventory on the market. The "country seat" has greatly lost its appeal among younger buyers. However, you might see that as an opportunity for a bargain. The housing market throughout the North Shore is very cold, Evanston and Wilmette being exceptions.
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Old 10-12-2017, 02:34 PM
 
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I know of no reliable source that lists the religious / ethnic background of towns; any such speculation is baseless.

MLS sales data is reliable
Median Real Estate values:
avg List Price____Price/sq ft___percent ask to sell
Highland Park$634,500__$223__95.3%
Lake Forest$994,150__$276__93.1%
Glencoe$1,037,000__$306__94.5%
Wilmette$727,000__$309__94.7%
Winnetka$1,249,000__$350__94.3%
Kenilworth$1,512,000__$414__100.0%

Population -- http://www.city-data.com/city/Highla...-Illinois.html 29,871
http://www.city-data.com/city/Lake-Forest-Illinois.html 19,379
http://www.city-data.com/city/Glencoe-Illinois.html 8,923
http://www.city-data.com/city/Wilmette-Illinois.html 27,446
http://www.city-data.com/city/Winnetka-Illinois.html 12,490
http://www.city-data.com/city/Kenilworth-Illinois.html 2,562

Last edited by chet everett; 10-12-2017 at 02:44 PM..
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Old 10-12-2017, 03:04 PM
 
Location: Evanston & Lake Forest, Illinois
1,765 posts, read 963,813 times
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Quote:
Originally Posted by chet everett View Post
I know of no reliable source that lists the religious / ethnic background of towns; any such speculation is baseless.

MLS sales data is reliable
Median Real Estate values:
avg List Price____Price/sq ft___percent ask to sell
Highland Park$634,500__$223__95.3%
Lake Forest$994,150__$276__93.1%
Glencoe$1,037,000__$306__94.5%
Wilmette$727,000__$309__94.7%
Winnetka$1,249,000__$350__94.3%
Kenilworth$1,512,000__$414__100.0%
It's not speculation. I live here, and I grew up here. I am giving you a first hand account of the ethnic and socioeconomic realities of the area, as well as the history behind it. If you do not know that Highland Park, Glencoe, and west Wilmette are associated with the Jewish community, you definitely are not from the area. Likewise, if you do not know that Lake Forest, Winnetka, and east Wilmette are associated with white gentiles, you are definitely not from the area. Precinct level election results are readily available, and they correlate with my first hand account of the local demographic makeup. These differences are very distinct for those of us that grew up here. I think people looking to move somewhere new should be made aware of the local culture, so that they can determine if that is something that they want or not. My analysis of the local housing market is corroborated by your information from Redfin.
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Old 10-12-2017, 03:33 PM
 
Location: Evanston & Lake Forest, Illinois
1,765 posts, read 963,813 times
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Quote:
Originally Posted by chet everett View Post
I know of no reliable source that lists the religious / ethnic background of towns; any such speculation is baseless.
This brings to mind someone recommending a non-Mormon (aka gentile) move to Draper or Alpine, Utah, because there is no town-level census data available to analyze the true percentage of the population that is LDS. Anybody with any knowledge of that area knows that those communities are predominately LDS. For someone not interested in living in a community where that culture informs the life of the community, this information is helpful.
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Old 10-12-2017, 04:20 PM
Status: "T.e.m.p. B.a.n.n.e.d" (set 27 days ago)
 
3,846 posts, read 2,461,000 times
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Quote:
Originally Posted by Hiruko View Post
This brings to mind someone recommending a non-Mormon (aka gentile) move to Draper or Alpine, Utah, because there is no town-level census data available to analyze the true percentage of the population that is LDS. Anybody with any knowledge of that area knows that those communities are predominately LDS. For someone not interested in living in a community where that culture informs the life of the community, this information is helpful.
The biggest problem with your (original) post is it is too religiously weighted. The OP isn't asking about that.

Last edited by damba; 10-12-2017 at 04:20 PM.. Reason: spelling
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Old 10-12-2017, 04:57 PM
 
Location: Evanston & Lake Forest, Illinois
1,765 posts, read 963,813 times
Reputation: 2120
I realize that the OP didn't ask about it, but they did ask about the differences between the communities. I know that for a lot of people, including myself being Jewish, it's a pretty significant distinction. The biggest in fact. I think it's probably a bigger distinction than the housing stock or walkability when comparing Winnetka and Glencoe. Sure, Winnetka is a little bit larger and has three Metra stops, while Glencoe is a little smaller and only has one stop within its borders. However, they are remarkably similar aside from that ethno-religious distinction. I know people who have found it very uncool to find themselves in such homogeneous communities, and suddenly realize that they are an outsider amongst people with a strong in-group mentality. It's uncommon for someone to shop in all of these communities simultaneously, so it makes me think that the OP would like to know more about these distinctions.
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Old 10-12-2017, 05:08 PM
Status: "T.e.m.p. B.a.n.n.e.d" (set 27 days ago)
 
3,846 posts, read 2,461,000 times
Reputation: 2990
Quote:
Originally Posted by Hiruko View Post
I realize that the OP didn't ask about it, but they did ask about the differences between the communities. I know that for a lot of people, including myself being Jewish, it's a pretty significant distinction. The biggest in fact. I think it's probably a bigger distinction than the housing stock or walkability when comparing Winnetka and Glencoe. Sure, Winnetka is a little bit larger and has three Metra stops, while Glencoe is a little smaller and only has one stop within its borders. However, they are remarkably similar aside from that ethno-religious distinction. I know people who have found it very uncool to find themselves in such homogeneous communities, and suddenly realize that they are an outsider amongst people with a strong in-group mentality. It's uncommon for someone to shop in all of these communities simultaneously, so it makes me think that the OP would like to know more about these distinctions.
So you feel that the presence of Jewish people in Highland Park has a similar impact on the community as LDS do in the towns you referenced in UT, even though numbers are significantly less? Help me understand what you are getting at.
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