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Cabrini Green Real Estate and Neighborhood Information

Get to know Cabrini Green

With one of the richest histories of any Chicago neighborhood, Cabrini-Green, once the site of one of the most infamous public housing projects in the entire country, is now experiencing a major revitalization that would have been undreamed of by residents just ten years ago. Nestled among some of the city‘s most sought-after neighborhoods, Cabrini-Green has long been targeted as a prime Chicago location. Now, row after row of new construction townhomes and condominium developments are replacing the rundown residences of yesteryear making Cabrini-Green a hidden gem that is still hovering under the radar. Forward thinkers are taking advantage of the neighborhood's top properties and getting in before the transition is complete and real estate prices shoot up. Already infused with chic dining spots, grocery stores and a growing shopping district, Cabrini-Green is the Chicago neighborhood of the future.

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Cabrini Green Real Estate

Things are indeed turning around in Cabrini-Green, as evidenced by the seven-acre development of North Town Village that was completed in 2002 on a site that had previously hosted public housing projects. The complex features 261 residences, 50% of which are available to market-rate renters and buyers, and the remaining homes are reserved for low-income and former public housing tenants.

An interesting fact: In an effort to reverse many of the problems that plagued the Cabrini-Green housing projects, strict rules have been put in place for the tenants of the low-income residences. Residents are required to work at least 30 hours per week, or to attend classes or job training for the same amount of time. Loitering in public spaces is forbidden, as well as loud music.

Another, more recent development in Cabrini-Green is the 760-unit development, Parkside of Old Town. This new townhome and condo development will consist of eight large buildings that will span nearly eight city blocks centered around Seward Park. Residences will be located between Larrabee Street and Cleveland Avenue, between Division and Elm Streets, stretching in an L-shape. Parkside homes will be priced between the low $200,000s and the mid $500,000s, and as with North Town Village, half of the residences will be sold at market rate, and the other half will be reserved as low-income housing.

Though these developments do represent a bold experiment on the part of both developers and the Chicago Housing Authority, it appears, at least at the start, to be a shining success. Crime has plunged and new life has emerged in the neighborhood. And since they’ve been put on the market, these new units have been in very high demand.

While the projects were a large part of this Chicago neighborhood’s character, there are a good number of luxury new-construction condos, lofts, penthouses and townhomes that have given Cabrini-Green a new lease on life. Large mid- and high-rise residences with upgraded amenities and contemporary style living spaces are available at a much higher price tag than the forthcoming mixed-income housing. In fact, some three- to five-bedroom units go for over a million dollars. The diverse mix of properties is sure to bring a wide range of inhabitants to the area, creating an eclectic neighborhood that is sure to prosper in the years to come.

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