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Old 07-07-2017, 09:36 AM
 
Location: Chicago
6,359 posts, read 8,829,292 times
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Can communities in 2 Lake counties (IL and IN) ever turnaround because of the value of lakefront location?

Simply put, could the pressure of real estate value open up the development of high end residential construction in areas that tend to be downtrodden like Waukegan, North Chicago, and the shore of Lake Co IN? I realize that said development would come in almost with a gated approach and only affect the shoreline itself, but could it happen?

Lake Michigan shoreline is on a premium and highly valued and sought. I know the negatives would be there (nobody is going to want to buy high end property and get a North Chicago address), but can this happen.

I'll throw this one in as added question:
Lake County IL is, as per its namesake, loaded with lakes. They are virtually all quite beautiful, but number of them have low grade residential development along their shore. The same question I had above: wouldn't the value of lakefront property at some point kick in to make the shorelines of these communities open to large scale McMansion development?
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Old 07-07-2017, 09:42 AM
 
4,011 posts, read 4,251,153 times
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Nope. Cost issues vs remodeling what's already on the north shore. There are also a myriad of other great choices/wide open spaces/desirable school districts with great and established amenities nearby to be ignored.
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