Millenium Park median real estate price is $769,664, which is more expensive than 95.5% of the neighborhoods in Illinois and 85.5% of the neighborhoods in the U.S.
The average rental price in Millenium Park is currently $4,642, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 99.1% of the neighborhoods in Illinois.
Millenium Park is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
Millenium Park 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 occupied by a mixture of owners and renters. Many of the residences in the Millenium Park neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
Real estate vacancies in Millenium Park are 4.1%, which is lower than one will find in 72.8% of American neighborhoods. Demand for real estate in Millenium Park 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.
Car Ownership
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Millenium Park neighborhood have a highly unusual car ownership. 80.6% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.9% of U.S. neighborhoods.
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 90.2% of the adults living in the Millenium Park neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 99.7% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
In addition, if you're looking for an active nightlife with lots of opportunities to flirt and find romance, then you probably won't have to go too far from the Millenium Park neighborhood to find it. Only 2.4% of the neighborhoods in the country have a larger proportion of young, single professionals. The nightlife may not be reminiscent of a "Sex and the City" episode, but the people who live here find friendship, romance, fun, and socializing readily available. In addition to being an excellent choice for young, single professionals, this neighborhood is also a very good choice for urban sophisticates.
Also, 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 4.5% of America's neighborhoods are wealthier than the Millenium Park 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.
Real Estate
One of the really unique and interesting things about the look and setting of the Millenium Park neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 96.9% 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 99.4% of all neighborhoods in America.
In addition, if you like crowded places, then you will probably enjoy the the Millenium Park neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.5% of neighborhoods in the U.S., with 27,667 people per square mile living here.
Modes of Transportation
More people in Millenium Park choose to walk to work each day (29.8%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Also, in the Millenium Park neighborhood, 40.8% 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 98.9% of the neighborhoods in America.
Occupations
Executives, managers and professionals make up 76.0% of the workforce in the Millenium Park neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 98.1% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Diversity
Did you know that the Millenium Park neighborhood has more Croatian and Austrian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.1% of this neighborhood's residents have Croatian ancestry and 2.5% have Austrian ancestry.
Millenium Park is also pretty special linguistically. Significantly, 1.9% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 98.4% of the neighborhoods in America.
Migration / Stability
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Millenium Park neighborhood. In the Millenium Park neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.5% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 Millenium Park 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 95.5% of the neighborhoods in America. With 14.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 59.4% of U.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 Millenium Park neighborhood, 76.0% 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 15.8% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (5.7%), and 4.6% in clerical, assistant, and tech support occupations.
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 Millenium Park neighborhood is English, spoken by 63.7% of households. Other important languages spoken here include Chinese, Langs. of India, Spanish and German/Yiddish.
Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the Millenium Park neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Asian (25.6%). There are also a number of people of German ancestry (18.3%), and residents who report Mexican roots (10.4%), and some of the residents are also of Irish ancestry (9.4%), along with some Italian ancestry residents (7.8%), among others. In addition, 35.5% of the residents of this neighborhood were born in another country.
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 Millenium Park neighborhood spend between 15 and 30 minutes commuting one-way to work (49.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (40.8%) take the train to get to work. In addition, quite a number also hop out the door and walk to work to get to work (29.8%) and 12.4% of residents also drive alone in a private automobile 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.
