Value of Neighborhood Being on Lake? (Chicago, Evanston: best neighborhoods, home, neighborhoods)

[OKParker]

Hey all,

So I think about this a lot and I am curious to hear your thoughts. Will people 10 years from now (and also people 30 years from now) think the west loop and west town and wicker park area is worth living in since it is so far away from the lake? Will everyone just want to live in the 2000-5000 S LSDish area? Will Roger's Park see home values higher than Ukranian Village?

I want to understand whether there is any geographic value in neighborhoods like Logan Square - pretty far from the city center and far from the lake.

Any examples from other cities or just general insight would be appreciated.

[Kmanshouse]

I'd say if it hasn't yet, it's not going to later. Rogers Park and Uptown aren't the best neighborhoods, lake or not. Whereas Lincoln Square, Wicker Park, Bucktown, Roscoe Village are really nice neighborhoods away from the lake. What would you choose?

[fusillirob1983]

Originally Posted by Kmanshouse

I'd say if it hasn't yet, it's not going to later. Rogers Park and Uptown aren't the best neighborhoods, lake or not. Whereas Lincoln Square, Wicker Park, Bucktown, Roscoe Village are really nice neighborhoods away from the lake. What would you choose?

Rogers Park, Uptown and Edgewater are also a longer commute from downtown in most instances.

[frimpter928]

Because we don't have a climate like that of LA or Miami, unless you are talking about lakefront property, neighborhoods that are lakefront like Rogers Park or Edgewater, I don't see them really booming or increasing as much as a neighborhood like Logan Square or even Avondale will/would.

Because Chicago is city by design where it has such a central downtown and everything radiates from it, I would say the real value is in the closer you are to downtown the better, regardless if lakefront or not. I think neighborhoods will gain more value in that sense.

People don't move to Chicago for the lake, they move to Chicago for the urban living and jobs which you find more and more closer to downtown. Again, if this were Miami or LA, where people move here for the climate as well as the beach life, I could then see places like Rogers Park taking off.

For most people sure, it's nice to live by the lake. But for most Chicagoans the lake is only useful for 3-4 months out of the year. Ask how your average Chicagoan how many times they go by the lake from October - April. Lakefront is a nice asset for a neighborhood, but it's not something that people here are demanding.

[MassVt]

I really don't understand how Rogers Park came to be seen as "undesirable", at least in part. There are some nice sections, but you would think that the lakeside neighborhoods would be highly sought -after. Similar areas in Evanston are simply gorgeous..

[frimpter928]

Originally Posted by MassVt

I really don't understand how Rogers Park came to be seen as "undesirable", at least in part. There are some nice sections, but you would think that the lakeside neighborhoods would be highly sought -after. Similar areas in Evanston are simply gorgeous..

I don't think anyone is saying they are "undesirable" but they are nowhere near as desirable as places like Logan Square or the West Loop, Bucktown, Wicker Park, neighborhoods that are not that close to the lake. I definitely see how if you have property right on the lake that makes sense. But if you live in Lakeview, and live on Belmont and Racine, you really aren't moving to the Lakeview neighborhood because of the lake, it's more so you are living there for the amenities and the vibrancy of the neighborhood. The urban living component. The lake is just a plus.

Again, the lake is a desirable thing to have on a certain level, but it's not usually the top priority for most people living in Chicago. Just like how living on the waterfront in NYC or Boston is not really a top priority either. These are cities that people move to for urban living, not for waterfront or beach life. IN a place like San Diego, Miami, or LA waterfront really matters. In a place like Chicago, NYC, or Boston, it's certainly a plus, but not a top priority for most people.

[OKParker]

These are good responses. I think the most enlightening truth to come out of this is that it is probably true that no one moves to Chicago for the waterfront.

Based on this, it sounds like proximity to the loop + proximity to nice commercial districts is probably more important to people in Chicago than proximity to natural areas (parks, lake, beach)

[frimpter928]

Originally Posted by OKParker

These are good responses. I think the most enlightening truth to come out of this is that it is probably true that no one moves to Chicago for the waterfront.

Based on this, it sounds like proximity to the loop + proximity to nice commercial districts is probably more important to people in Chicago than proximity to natural areas (parks, lake, beach)

Yup. IMO you hit the nail on the head.

[jfre81]

Originally Posted by MassVt

I really don't understand how Rogers Park came to be seen as "undesirable", at least in part. There are some nice sections, but you would think that the lakeside neighborhoods would be highly sought -after. Similar areas in Evanston are simply gorgeous..

My move to Chicago was originally going to be in August-September and I would have lived in west Rogers Park off Western, but this setup fell through and now I'm going to further down the Western corridor, somewhere between Wicker/Logan area and Tri-Taylor/IMD area. I was actually looking forward to RP, because I've seen some of Evanston and it's nice, and it was a place close to the lake that wasn't too expensive.

Might not have liked the lake area too much this winter though, and I'm pretty hardy when it comes to Midwest weather.

[nap1313]

I think the lake is beautiful, but would never live along it. It’s too inconveniently located and a pain in the butt to get anywhere else in the city, especially the airports.

Neighborhoods like Wicker and Logan are more centrally located relative to other neighborhoods in the city.