Greektown median real estate price is $410,638, which is more expensive than 73.5% of the neighborhoods in Illinois and 57.3% of the neighborhoods in the U.S.
The average rental price in Greektown is currently $3,618, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 95.8% of the neighborhoods in Illinois.
Greektown is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
Greektown real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Greektown neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.
Greektown has a 11.9% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 69.0% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Chicago, the Greektown neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
The rate of college educated adults in the Greektown neighborhood is a unique characteristic of the neighborhood. 90.7% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 99.8% of all U.S. neighborhoods.
In addition, think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the Greektown neighborhood: a neighborhood in which more "urban sophisticates" live than 97.2% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for young, single professionals.
Also, one of the most interesting things about the Greektown neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 52.3% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 96.7% of the neighborhoods in America.
Real Estate
The Greektown neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 97.7% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
In addition, one of the really unique and interesting things about the look and setting of the Greektown neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 97.5% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 99.5% of all neighborhoods in America.
Furthermore, the Greektown neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 43,252 persons per square mile in the neighborhood, it is more packed with people than 98.1% of the nation's neighborhoods.
Modes of Transportation
In the Greektown neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 28.5% of residents here. This is a higher proportion of walking commuters than we found in 99.0% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, a unique way of commuting is simply not to. And in the Greektown neighborhood, analysis shows that 29.9% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 96.9% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
Occupations
The Greektown neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 98.3% of the neighborhoods in America. In fact, 76.9% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Car Ownership
We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Greektown neighborhood has a highly unusual pattern of car ownership. 33.6% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.5% of U.S. neighborhoods.
Diversity
Did you know that the Greektown neighborhood has more Greek and Belgian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.6% of this neighborhood's residents have Greek ancestry and 0.9% have Belgian ancestry.
Greektown is also pretty special linguistically. Significantly, 10.0% of its residents five years old and above primarily speak Langs. of India at home. While this may seem like a small percentage, it is higher than 99.2% of the neighborhoods in America.
There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.
The neighbors in the Greektown neighborhood in Chicago are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 90.7% of the neighborhoods in America. In addition, 4.2% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 67.3% of America's neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Greektown neighborhood, 76.9% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 16.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (5.1%).
Languages
The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Greektown neighborhood is English, spoken by 65.4% of households. Other important languages spoken here include Langs. of India, Chinese and Spanish.
Ethnicity / Ancestry
Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.
In the Greektown neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Asian (31.1%). There are also a number of people of German ancestry (13.3%), and residents who report Irish roots (10.2%), and some of the residents are also of Mexican ancestry (7.6%), along with some Italian ancestry residents (6.1%), among others. In addition, 26.9% of the residents of this neighborhood were born in another country.
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Greektown neighborhood spend between 15 and 30 minutes commuting one-way to work (40.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (28.5%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (22.2%) and 9.4% of residents also ride the bus for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
