Lake View in decline? (Lincoln, Sheffield: condos, houses, neighborhoods)

[jonnynonos]

I walked down Clark Street all the way through Lake View yesterday and couldn't help but notice what seemed to be a marked increase in empty retail storefronts. Further, the discrepancy between Lake View and West Town in terms of edgy, creative, trendy eating and retail options has, as far as I can tell, become almost absolute.

I thought Lake View in general just looked very old, borderline run down, and, considering what neighborhoods like Wicker Park are offering, not likely to continue attracting young people in the numbers it previously has/is known for.

I realize Broadway/Boystown has it's own cachet.

[marothisu]

Clark has been like that for awhile - other streets are better with it.

[Bird4Prez]

Walk along Belmont, walk along Southport, walk along Diversey (granted this is the southern border for the neighborhood), walk along Lincoln Ave, walk along Wellington, walk along Sheffield..... I don't know the exact demographics age-wise, but the houses/condos all look pretty well-heeled to me. There are a lot of established and older restaurants in Lake View that may discourage newer competitors from popping up (I am not an expert on the dynamics of the restaurant biz). I would say that Lakeview is more for thirty-somethings with young families than it was in earlier decades. Wicker Park, Bucktown, Logan Square, Ukranian Village and other blue line/near west areas may be geared towards the younger set. I think the title of your thread should be "Is the Clark Street portion of Lake View in decline?" One look at Zillow will show you that the housing market doesn't seem to think Lake View is in decline. Also, it is so close to downtown and has so many CTA options for commuters who aren't ready for the suburbs that I don't see how it would ever suffer a serious decline.

[jonnynonos]

Originally Posted by Bird4Prez

Walk along Belmont, walk along Southport, walk along Diversey (granted this is the southern border for the neighborhood), walk along Lincoln Ave, walk along Wellington, walk along Sheffield..... I don't know the exact demographics age-wise, but the houses/condos all look pretty well-heeled to me. There are a lot of established and older restaurants in Lake View that may discourage newer competitors from popping up (I am not an expert on the dynamics of the restaurant biz). I would say that Lakeview is more for thirty-somethings with young families than it was in earlier decades. Wicker Park, Bucktown, Logan Square, Ukranian Village and other blue line/near west areas may be geared towards the younger set. I think the title of your thread should be "Is the Clark Street portion of Lake View in decline?" One look at Zillow will show you that the housing market doesn't seem to think Lake View is in decline. Also, it is so close to downtown and has so many CTA options for commuters who aren't ready for the suburbs that I don't see how it would ever suffer a serious decline.

I walk along those streets all the time; still, I've always thought of Clark St. as the heart of Lake View.

You are right that given its proximity to the lake, it will likely never really go into a steep decline. But my post is also pointing out that it seems the new, creative lifeblood has stopped flowing into the area. If you compare it to Division in Wicker Park, for instance, it really couldn't seem older or dustier, and I am not just talking about hipster destinations; I mean interesting new businesses and restaurants.

I'm not a Realtor but a quick look at Zillow actually pointed out a negative/below average (national average) for the housing prices.

Agreed, though, that the situaiton varies from street to street, block to block.

[pete6032]

So you walked down one street in a neighborhood area of 95,000 people and concluded that Lakeview is "in decline."

[Vlajos]

Clark Street has always been the worst major street in Lake View. At least as long as I've been paying attention. Look at Southport these days . It's almost unrecognizable from 10 years ago.

According to redfin, median $/sf is up almost 15% yoy. The median price is down 1.6%. That tells me prices are increasing. The mix of things sold has a nominally lower price point though.

[probablyimnotsure]

Originally Posted by pete6032

So you walked down one street in a neighborhood area of 195,000 people and concluded that Lakeview is "in decline."

Lakeview does not have 195,000 people living in it. It's more like half that.

[Vlajos]

Originally Posted by probablyimnotsure

Lakeview does not have 195,000 people living in it. It's more like half that.

Either way, the point is valid.

[jonnynonos]

Originally Posted by Vlajos

Clark Street has always been the worst major street in Lake View. At least as long as I've been paying attention. Look at Southport these days . It's almost unrecognizable from 10 years ago.

According to redfin, median $/sf is up almost 15% yoy. The median price is down 1.6%. That tells me prices are increasing. The mix of things sold has a nominally lower price point though.

Southport is only one street! Ha!

But, I am not really talking so much about, you know, Lake View becoming Detroit or anything.

What I meant, and I should have articulated it more, is that, in my opinion, the momentum has shifted away from it in terms of being a compelling destination for young people moving to the city seeking a sophisticated urban environment. The momentum is clearly along the Milwaukee corridor.

It's just an opinion. I definitely understand if people disagree.

And re: Clark Street, I have been walking up and down Clark Street for a really long time. It's always had its sore spots, but, in my opinion, it really was looking worse than ever.

I have no data to prove that, again, just an opinion.

I wondered if anyone else had an opinion. Not pronouncing the death of Lake View.

[pete6032]

Originally Posted by probablyimnotsure

Lakeview does not have 195,000 people living in it. It's more like half that.

Youre right, I had that wrong. Wikipedia says 95,000.