Wicker Park and Bucktown giving Lincoln Park a run for its money

Lincoln Park is one of the best loved spots in the city to get an apartment or condo, but competition from a nearby neighborhood is beginning to change the landscape.

Through all the highs and lows of the past few years for Chicago real estate many Lincoln Park home and condo owners have stubbornly refused to sell for less than what their property is worth, come recession or no. And, interestingly enough, the hugely popular neighborhood has been able to maintain a steady market of buyers and sellers (as well as a thriving rental market). The median sell price for Lincoln Park condos, between 2007 -11, only fluctuated from around $420,000 to $340,000—a very minor drop considering the severity of the housing market bubble burst.  Volume, however, has been an issue as the number of condos sold in the last quarter of 2011 stands as about only ½ of the current sales volume (640 compared to 336).

All this only backs up the claim that Lincoln Park is one of the favorite well to do neighborhoods in Chicago, filled with excellent restaurants, bars, and entertainment options. Access to the lake as well as Lincoln Park itself seems to only sweeten the deal.

But there is a challenger in the form of the Bucktown/Wicker Park area to Lincoln Park’s west. Wicker Park and Cheap Pills Bucktown Condo prices here have shown a more significant drop, from $385,000 down to a current $311,000, but still better than most of the city. And the neighborhood is thriving thanks to great transportation to the downtown area, modern development of Chicago Condos and Apartments, and brand new restaurants and bars opening continually.  Together Wicker Park Condos and Bucktown Condos (sometimes together known as West Town) have become a major option for those willing to take advantage of the current low prices for ownership, and the area is continuing to be a major challenger to the popularity of Lincoln Park in the quality of life and living options located there.

If you are looking to buy or sell an apartment or condo in any of these fantastic Chicago Neighborhoods, contact Core Group Chicago buy fucidin cream gnome3 start-here icon directly as we can help match apartment and condo seekers with the best property for them. Take advantage of our knowledge, experience, and reach today.

 

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