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Real Estate Prices & Overview

Lakeview Northwest median real estate price is $660,116, which is more expensive than 92.1% of the neighborhoods in Illinois and 79.3% of the neighborhoods in the U.S.

The average rental price in Lakeview Northwest is currently $2,345, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 72.8% of the neighborhoods in Illinois.

Lakeview Northwest is a densely urban neighborhood (based on population density) located in Chicago, Illinois.

Lakeview Northwest 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Lakeview Northwest neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.

Real estate vacancies in Lakeview Northwest are 3.6%, which is lower than one will find in 76.0% of American neighborhoods. Demand for real estate in Lakeview Northwest is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

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 Lakeview Northwest neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Occupations

Executives, managers and professionals make up 77.3% of the workforce in the Lakeview Northwest neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 98.4% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

Modes of Transportation

If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 29.9% of the Lakeview Northwest neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.2% of America's neighborhoods.

Also, a unique way of commuting is simply not to. And in the Lakeview Northwest neighborhood, analysis shows that 31.1% 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 97.4% 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.

People

Do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 80.7% of the adults living in the Lakeview Northwest neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 98.0% of U.S. neighborhoods. In this way, this neighborhood truly stands out.

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 Lakeview Northwest neighborhood: a neighborhood in which more "urban sophisticates" live than 95.4% 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.

Real Estate

Being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the Lakeview Northwest neighborhood is one of the most walkable neighborhoods in America.

Diversity

Did you know that the Lakeview Northwest neighborhood has more Lithuanian and Polish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.3% of this neighborhood's residents have Lithuanian ancestry and 12.2% have Polish ancestry.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Lakeview Northwest neighborhood in Chicago are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 67.9% of the neighborhoods in America. With 11.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 52.6% of U.S. neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Lakeview Northwest neighborhood, 77.3% 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 9.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (7.2%), and 5.9% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Lakeview Northwest neighborhood is English, spoken by 89.1% of households. Some people also speak Spanish (8.7%).

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 Lakeview Northwest neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Irish (16.9%). There are also a number of people of German ancestry (16.7%), and residents who report Polish roots (12.2%), and some of the residents are also of Mexican ancestry (8.1%), along with some Italian ancestry residents (8.0%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Lakeview Northwest neighborhood spend between 30 and 45 minutes commuting one-way to work (39.2% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (29.9%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (29.3%) . This neighborhood is distinguished by the high number of residents who take the train to work each day, which can be a very good way to get to work at a lower cost and with less pollution.


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