Lakeview median real estate price is $841,751, which is more expensive than 95.7% of the neighborhoods in Illinois and 85.9% of the neighborhoods in the U.S.
The average rental price in Lakeview is currently $3,216, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 88.7% of the neighborhoods in Illinois.
Lakeview is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
Lakeview real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Lakeview 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 1970 and 1999.
Real estate vacancies in Lakeview are 4.4%, which is lower than one will find in 70.9% of American neighborhoods. Demand for real estate in Lakeview 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.
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
People
The first thing that you'll notice if you moved to this neighborhood is that an astounding 3.3% of the households are same sex couples. According to NeighborhoodScout's analysis, this is a higher proportion of same sex households than in 99.4% of the neighborhoods in America. This is one indicator that this neighborhood is likely a gay-friendly neighborhood. So if you are looking for such a neighborhood, the Lakeview neighborhood should definitely be on your list of places to consider.
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 neighborhood: a neighborhood in which more "urban sophisticates" live than 98.8% 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, the rate of college educated adults in the Lakeview neighborhood is a unique characteristic of the neighborhood. 83.6% 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 98.8% of all U.S. neighborhoods.
Finally, if you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 4.8% of America's neighborhoods are wealthier than the Lakeview neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe.
Modes of Transportation
In the Lakeview neighborhood, 34.1% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 98.4% of the neighborhoods in America.
Real Estate
The Lakeview neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 32,798 persons per square mile in the neighborhood, it is more packed with people than 97.3% of the nation's neighborhoods. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The Lakeview neighborhood is among the top 5% of American neighborhoods in terms of walkability.
In addition, corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the Lakeview neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 44.7% of the real estate here is made up of such dwellings, which is higher than 97.8% of all U.S. neighborhoods.
Occupations
The Lakeview neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 97.2% of the neighborhoods in America. In fact, 73.6% 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.
Diversity
Did you know that the Lakeview neighborhood has more Greek and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.6% of this neighborhood's residents have Greek ancestry and 3.1% have Eastern European ancestry.
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 Lakeview 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 95.2% of the neighborhoods in America. In addition, 2.0% 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 75.3% 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 Lakeview neighborhood, 73.6% 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 18.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (5.0%), and 3.3% in manufacturing and laborer occupations.
Languages
The most common language spoken in the Lakeview neighborhood is English, spoken by 88.0% of households. Some people also speak Spanish (6.2%).
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 neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as German (19.0%). There are also a number of people of Irish ancestry (13.4%), and residents who report English roots (10.3%), and some of the residents are also of Italian ancestry (7.0%), along with some Polish ancestry residents (6.9%), among others.
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 neighborhood spend between 30 and 45 minutes commuting one-way to work (44.8% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (34.1%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (28.8%) and 5.5% of residents also carpool with coworkers, friends, or neighbors for their daily commute. 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.
