Quote:
Originally Posted by Steely Dan
that's not really true. as i said in my last post, in my neighborhood of edegwater glen, SFH's routinely sell for $600,000 - $1,000,000, which is quite comparable to the prices of SFH's in the neighborhood i grew up in in southeast wilmette.
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I don't know Edgewater Glen, but I doubt there are 600k SFH in the prime lakefront parts of the North Shore. $1 million is probably a minimal starting point, for an OK house in decent condition, not right on the lake, but walking distance. I don't think Edgewater is similar, where you need $1 million to get something decent/livable.
Or to put another way- if I were to survey the BigLaw partners and corporate execs of Chicagoland, I would bet an absolute crapload live along the North Shore (Wilmette north) and in and around Gold Coast/LP/Lakeview (and in/around Hinsdale). Very few would list addresses north of Irving park and south of the Bahai Temple. Heck, probably few list addresses north of Diversey and south of Kenilworth.
In contrast, in DC and Toronto, those midtier neighborhoods are some of the richest/most desirable in the metro. If Chicago's wealth was like Toronto then Uptown would be Winnetka, basically (and the North Shore wouldn't be desirable).
The richest SFH neighborhoods in Toronto are in-town, because Toronto was so small back in the pre WW2 era. Chicago was already enormous, so it's analagous neighborhoods are way out. The Chicago versions of Rosedale, Forest Hill and Bridal Path, are in the burbs.