Affluent and Popular Neigbhorhoods of Chicago
Geography of Chicago: North, West, South and East
To become acquainted with the geography of Chicago, it is necessary to understand the north, south, east and western boundaries. Unlike the same named and confusing streets of the Big Apple, learning one’s way around Chicago is a fast study. Foremost, a vast majority of the city is void of east addresses because it is bordered by Lake Michigan on its east shore. The city’s grid is divided by ‘zero’ streets which demarcate the east, west north and south divisions.
Wabash is a ‘0’ street that divides the line between east and west. The north and south boundaries are represented by the other ‘0’ street, Madison. Both Wabash and Madison streets are located downtown, the central business district of Chicago. (Commonly, downtown Chicago is referred to as the Loop).
Did you know that Chicago’s downtown central business is referred to as the ‘Loop’? The name originated from the elevated transit train lines that encircle a loop around the artery of the city.
Magnificent Mile
Just north of the Loop is the Magnificent Mile. From the southeast corner of Oak Street to down the vibrant streets of Michigan Avenue, the area is overrun with a wealth of places to live, shop and dine (from Michigan Avenue from the river at Wacker Drive to Oak Street). It’s deemed as the equivalent of Beverly Hill’s Rodeo Drive or New York City’s Fifth Avenue.
Although, the Magnificent Mile holds no resemblance to the top two city’s fashion nerve centers, it is home to many of the same designers and retailers (Prada, Neiman Marcus, Tiffany’s, Cartier, Chanel, Hermes, Saks Fifth Avenue, to name a few). Five-star hotels such as critically acclaimed Peninsula, Park Hyatt and Four Seasons Hotels are permanent residences of the Mag Mile.
Chicago’s Streeterville
Due south east of the Magnificent Mile is Streeterville. What started out as a sandbar, turned landfill is now the home of many of Chicago’s famous landmarks (John Hancock Center, Chicago Tribune, and the Museum of Contemporary Art). Named after George Wellington (Cap) Streeter, the Civil War veteran claimed the land as own in the late 1800s. Then he tried to maximize his earnings by charging solid waste contractors high prices to use the area as an 186 acre landfill.
Despite, the trashy beginnings of Streeterville, today it is comprised of corporate business and upscale living, alike. The community remains home to the corporate headquarters of Playboy Enterprises and to the kitsch television icon, The Jerry Springer Show. Mid-rises, high-rises and other condominiums are interspersed amongst mammoth office buildings. Navy Pier as far east as the area reaches. While abruptly ending at Michigan Avenue, it touches the boundaries of the Magnificent Mile. (Property values start at $260 K and go up to the millions).
Chicago’s Gold Coast
The northwest corner of Oak Street represents Chicago’s Gold Coast. The community is comprised of singles, empty-nesters, as well as families. The area extends from Lake Michigan – Clark Street (east and west), Oak Street (1100 N) to North Avenue (1600N). As one of the more affluent areas of the Windy City, the cost of a studio condominium starts at $250,000. The property value of the homes and condos are unlimited and totter into the millions.
Over the years, the Gold Coast neighborhood has always been a nightlife attraction on the renowned Rush Street. It attracts both celebrities and life forms of all socio-economic backgrounds. Aside from the names of the clubs and bars, not much has changed in the way of decadence. The movie, “About Last Night” (Demi Moore and Rob Lowe) pretty much sums up the hedonism of the infamous Chicago meat market scene.
Chicago’s Lincoln Park
If one continues to travel north in Chicago, next door to the Gold Coast is Chicago’s Lincoln Park. From the Northeast corner of North Avenue to Diversey and as west as Clybourn Avenue, Lincoln Park garners a reputation of Yuppies. As one of the city’s oldest neighborhood, the community is a mÃ?©lange of brownstones, stately homes, town homes, new construction and more. Over the last five years, the property value of Lincoln Park has exceeded the value of property in the Gold Coast.
The dense street parking makes the area perfect for the non-driving urban dweller. Not to mention, convenient public transportation is merely a few blocks away from most bus and train stops. Lincoln Park is not limited to the urban professional, either. DePaul University, prestigious theatre companies, Lincoln Park Zoo, 20-something bars, popular retail chains are more than the sideline fascinations of the neighborhood.
