Does the Gold Coast neighborhood feel as dense as the Upper East Side (NYC)? (Chicago: apartment, home)

[marothisu]

Originally Posted by jonnynonos

It is buffoonish to ask for anything but a so called qualitative opinion between two such areas. If you compared the UES to a block in the United Arab Emirates that happened to contain some ridiculous new ultra luxury developments, would it really be of value?

No, and I've already given my real life analysis of the area in about 3 different posts. I was directly responding to something you said - and now you're calling me out on responding to something you said?

In short, it is as wealthy and cosmopolitan as you are going to find in any US city outside of NY and maybe LA, and, yes, that is pretty much the area in Chicago.

Which is what I and others have said numerous times already.

[CharlesMcintyre]

Originally Posted by jonnynonos

Ok, so do we all think that having house prices that on average are $1 mm vs. $2 mm is what the OP is talking about?

Do you think that is his concern?

Unless he is Donald Trump Jr I doubt it.

Compared to virtually anywhere else in America or the world they are both enormous concentrated areas of wealth.

Since he's concerned about public transportation I doubt he's worry lying if he can get a pet house on the 30th as opposed to the 40th floor .

I only pointed out the prices differences between Gold Coast and Upper East Side and that Gold Coast is relatively cheap compared to other large metropolitan areas in United States. We should consider the fact the Gold Coast is a very wealthy district but still has a housing market that does not reflect it. Investing in real estate in Chicago I would consider to be rather risky. Chicago has actually an oversupply of housing. A few of the reasons why rents are so high in Chicago is because of high taxes, regulations, inflation and the fact that people have turned to the rental market because of the high risk on the housing market. The New York ultra-high end housing market has long been a method for foreign investors to park their capital. Because of the unstable financial markets and world affairs the ultra-high end market has actually stabilized some. I really don’t see that I have written anything controversial.

Yeah, maybe that your real estate market is comparable to Detroit but other than that…

[jonnynonos]

Originally Posted by CharlesMcintyre

I only pointed out the prices differences between Gold Coast and Upper East Side and that Gold Coast is relatively cheap compared to other large metropolitan areas in United States. We should consider the fact the Gold Coast is a very wealthy district but still has a housing market that does not reflect it. Investing in real estate in Chicago I would consider to be rather risky. Chicago has actually an oversupply of housing. A few of the reasons why rents are so high in Chicago is because of high taxes, regulations, inflation and the fact that people have turned to the rental market because of the high risk on the housing market. The New York ultra-high end housing market has long been a method for foreign investors to park their capital. Because of the unstable financial markets and world affairs the ultra-high end market has actually stabilized some. I really don’t see that I have written anything controversial.

Yeah, maybe that your real estate market is comparable to Detroit but other than that…

Statistics don't really tell the whole story, which I suppose is part of my point. Chicago's Gold Coast is almost entirely made up of gorgeous single family homes, with a few dozen large condo complexes built in the 60s- 70s.

It doesn't really tell the whole story.

[marothisu]

Originally Posted by jonnynonos

Statistics don't really tell the whole story, which I suppose is part of my point. Chicago's Gold Coast is almost entirely made up of gorgeous single family homes, with a few dozen large condo complexes built in the 60s- 70s.

Ehhh - also depends on your definition of Gold Coast. Most peoples' definition of GC extends south to at least Oak or Delaware now and there are many others who extend it down to Pearson Ave now. There are many businesses and condo/apartment buildings down near Chicago Avenue that refer to themselves as the Gold Coast.

If you're talking about just north of Division, then what you say is on average true .

[jonnynonos]

Originally Posted by marothisu

Ehhh - also depends on your definition of Gold Coast. Most peoples' definition of GC extends south to at least Oak or Delaware now and there are many others who extend it down to Pearson Ave now. There are many businesses and condo/apartment buildings down near Chicago Avenue that refer to themselves as the Gold Coast.

It's kind of irrelevant in my opinion. If you are worried that the best residence in the Waldorf Astoria or Park Hyatt won't live up to your standards I imagine you would have better things to do than ask about it on a public forum.

People who are so wholly dedicated to being in the absolute eye of the storm that they have to live on the upper east side of Manhattan wouldn't in my opinion be considering leaving Manhattan.

Given common sense , Chicago is going to be a scaled down affair in every conceivable way.

[marothisu]

Originally Posted by jonnynonos

It's kind of irrelevant in my opinion. If you are worried that the best residence in the Waldorf Astoria or Park Hyatt won't live up to your standards I imagine you would have better things to do than ask about it on a public forum.

People who are so wholly dedicated to being in the absolute eye of the storm that they have to live on the upper east side of Manhattan wouldn't in my opinion be considering leaving Manhattan.

Given common sense , Chicago is going to be a scaled down affair in every conceivable way.

What are you talking about? We aren't talking about this money **** anymore. We're talking about neighborhood makeup of types of buildings, density, and feel. And for this conversation, it's absolutely relevant to mark where your borders are if you want to compare to the UES. The area south of Division Street is a lot different than north of it in the types of buildings and commercial/retail density, and a lot more high rise.

[CharlesMcintyre]

Originally Posted by jonnynonos

Statistics don't really tell the whole story, which I suppose is part of my point. Chicago's Gold Coast is almost entirely made up of gorgeous single family homes, with a few dozen large condo complexes built in the 60s- 70s.

It doesn't really tell the whole story.

Sure, which I initially wrote. It wealthy live in mansions and very expensive townhouses while the empty nesters, young professionals and other from the middle class lives in the apartment buildings. The same is actually true for Upper East Side, although not so many young professionals and middle class can afford owning an apartment (condo or co-op) in Upper East Side. Gold Coast is what I would call social diversity (sort of - because low income earners are excluded) when people from different income brackets can afford to live on the same street, although some of them live in small studio apartments and make 50K a year and others live in mansions and make 50 million a year.

[UC18]

Originally Posted by jonnynonos

If Chicago was NY, it wouldn't be Chicago, it would be NY.

That's pretty much exactly what the people you are arguing with are saying.

So what, exactly, are you arguing?

[UC18]

Originally Posted by jonnynonos

There is no misleading data; there is just offhand estimates.

Ah, so then it wasn't misleading data so much as completely made up numbers. I was trying to give you give you the benefit of the doubt. You should have taken it.

[jonnynonos]

Originally Posted by UC18

Ah, so then it wasn't misleading data so much as completely made up numbers. I was trying to give you give you the benefit of the doubt. You should have taken it.

Someone insinuated the bottom market for a condo in the UES was 800k; I pointed out it was far less.

Please post something fact based or stop
posturing.