Edgewater

 

Edgewater is located six miles north of the Chicago loop along Lake Michigan.  Boundaries are West from Lake Michigan to Ravenswood Avenue (1800 West); and North from Foster Avenue (5200 North) to Devon Avenue (6400 North).  Residents enjoy the lakefront setting, convenient public transportation and local parks.

Edgewater has been a part of Chicago for more than 100 years. For nearly 50 of those years the Edgewater community was identified by the Edgewater Beach Hotel, a Miami style hotel. The staff at this pink stucco hotel located along Lake Michigan serviced celebrities like Bette Davis, Babe Ruth and Marilyn Monroe and was famous for hosting music filled evenings on the beach. In the 1960s, the hotel was torn down.

Landmark status has been granted to significant historic building structures prohibiting further teardowns. The local economy is fueled by entrepreneurs who are encouraged to locate businesses in commercial areas of Edgewater.

 

Demographics

Edgewater it is a community of approximately 62,000 people with a median age of 35. People in this community are mostly professionals, 7108 in the White Collar and 1821 the Blue Collar.

 

This community gathers a total number of 20619 households, out of which 8333 are family households and the rest of 12287 are singles households. The count of households with children is 4324, each household have an average number of 2.06 people.

Average household income is $45,703, while the median income goes to $41,252, out of which the median income for people under 25 is $26,082.

 

 

 

 

Real Estate

Fannie Mae named Edgewater one of only 10 urban communities in the United States 'just right for affordable home ownership'.  Prairie Style, bungalows, Victorian, stucco, wood frame and 4-plus 1.

Per Trulia.com, the median sales price for homes in Edgewater for the period from Nov 08 to Jan 09 was $205,000. Down 22.6%, or $60,000, compared to the prior quarter and a decrease of 13% compared to the prior year. Sales prices have appreciated 10.8% over the last 5 years in Edgewater, Chicago though.  

The median sales price of $205,000 for Edgewater is 13.68% lower than the median sales price for Chicago IL.  Average listing price for homes on Trulia in Edgewater was $307,077 for the week ending Feb 25, which represents a decline of 1.1%, or $3,538 compared to the prior week and a decline of 1.2%, or $3,672 compared to the week ending Feb 04. Average price per square foot for homes in Edgewater was $182 in the most recent quarter, which is 33.82% higher than the average price per square foot for homes in Chicago.

Edgewater extends from Foster Avenue (5200 N) to Devon Avenue (6300 N) and Lake Michigan to Ravenswood (1800 W). It includes zip codes 60640, 60660 and Andersonville, Lakewood-Balmoral, Little Saigon, Epic and Edgewater Glen neighborhoods.

Restaurants and Nightlife

Nightlife ranges from bars such as Fireside, to watching a play at the Raven Theatre on Clark or the City Lit Theater Co on Bryn Mawr.  Restaurant options vary from branches of Chicago favorites such as Ann Sather, Carson's, Francesca's Gino's pizza, Ranalli's and Reza's, as well as locally owned Ethiopian, Thai, Chinese, French-Vietnamese, and Middle Eastern restaurants.

Neighborhood Attractions

In June for two days, Clark Street starting from Foster Avenue to Balmoral Avenue is the Midsommarfest, which is one of Chicago's best known neighborhood festivals.  More than 40,000 people attend this festival of ethnic food and live music.

Lincoln Park and Grant Park which dominate the lakefront.  However, Edgewater's parks include three which are: Lake Michigan beaches: Osterman, Foster Avenue and Lane and Broadway Armory Park.

Schools

Edgewater homeowners will find pre-schools and colleges in the area.  There is the William C. Goudy School, named for the first president of the Chicago Bar Association, here students study our legal system and participate in field trips to local courts.  In addition to these PreK-8 schools, Nicholas Senn High School is has been rate one of only 16 schools in the nation recognized for its community service program, allowing Edgewater students to learn while they help their neighborhood.  You will also find private elementary and high schools in the community which include the Northside Catholic Academy, the Sacred Heart Schools and the Rogers Park Montessori School.  Loyola University Chicago is located between Rogers Park and Edgewater and was ranked by U.S. News & World Report as part of 50 universities recognized for offering the best value for a college education.

 

Transportation

Edgewater is a quick to the Loop via the Metra railroad (at the Ravenswood station), on express and local buses that run along the lakeshore (#136 Sheridan/LaSalle, #147 Outer Drive and #151 Sheridan) or on the Red Line (El stations are located at Granville Ave., Thorndale Ave., Bryn Mawr Ave. and Berwyn Ave.).  Busy commercial streets are served by the #22 Clark and #36 Broadway buses. Permit parking is allowed on residential streets and city ordinances requiring off street parking for newly constructed lofts, condos and homes has helped minimize parking problems in the area.