Dubbed as ‘Hot Hyde Park’ by the Chicago Sun-Times, this once suburban area has made a name for itself as a desirable place to settle down and purchase a home without compromising on location.
The pairing of green space and culture in Hyde Park is a utopian existence for any big city dweller. It has a low crime rate and top-notch schools, making it attractive for families and soon-to-be parents who are looking for a new home. Hyde Park’s continued upswing has created a huge demand for new development and rehabbed housing for the busy single working adult, as well as the recently retired and starter family.
The price of real estate in the Hyde Park neighborhood, although rising steadily, is considerably lower than homes north of the Loop. You get more for your money, with all the modern amenities of a 21st century lifestyle. It’s an area rich in culture– world-renowned architects such as Mies van der Rohe and Frank Lloyd Wright designed many of the buildings in the neighborhood. Plus, Hyde Park is only six miles from downtown Chicago, putting all that excitement and commerce at your fingertips.
Hyde Park’s housing stock is split pretty evenly between vintage courtyard apartment and condo buildings, single-family homes and tall high-rises that hug the lakeshore. Several gut-rehab courtyard condo developments have been added to the neighborhood in recent years. The renovated Shoreland Hotel on South Shore Drive will add several hundred new rental apartments to the neighborhood. As you can see, there are plenty of factors that make Hyde Park is one of Chicago’s most enticing neighborhoods.
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Buying your first home? Click here for great tips and to find out Debra’s answers to the top four most common questions she receives from first time homebuyers.