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Lakewood Balmoral Real Estate and Neighborhood Information

Get to know Lakewood Balmoral

Lakewood-Balmoral is east of Andersonville and west of the much larger Edgewater neighborhood. With easy access to the beaches and parks along the lakefront, as well as nearby Loyola University, it is a vibrant neighborhood that includes part of the Bryn Mawr Historic District. Lakewood-Balmoral also has the distinction of being recognized by the Chicago Landmark Commission for its architecturally significant homes. The neighborhood is a comfortable mix of students, single working adults and families. Lakewood-Balmoral has a sizeable dining district with comfy coffee houses and a romantic French restaurant. The shopping options are a combination of outside-the-mainstream, independent stores and well-known national retailers.   

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Lakewood Balmoral Real Estate

Lakewood-Balmoral is the quiet neighbor of bustling Edgewater, which has the highest population density of any Chicago neighborhood. Composed primarily of single-family condominiums, brick two-and three-flats, courtyard apartment buildings and vintage homes, it is a historic area with charm and convenient access to the lakefront and shopping on North Broadway.

At the turn of the century, the Lakewood-Balmoral neighborhood drew some of the wealthiest Chicago families, including the Krafts, to build homes here. Influential architects like Neils Buck, Ivar Viehe-Naess, Holabird and Roche, and John Lewis Cochran designed homes in various styles during the era from approximately 1885 to 1905 that preceded Frank Lloyd Wright’s Prairie Style movement. Today, Lakewood-Balmoral’s streets reveal the same amazing architecture residents would have seen a century ago.

The Chicago Landmark Commission has designated several homes in the neighborhood as historic landmarks. On a short stroll under the leafy ash trees on Lakewood Avenue you will find fine examples of Eclectic, Classical, Queen Anne and Revival detailing. And many street intersections have quaint traffic circles that have been landscaped with small trees and colorful flowers.

Condominium conversions have grown in popularity over the last several years. Generally, the average sales price for a one-bedroom, one-bath condominium in Lakewood-Balmoral is $210,000 and the average price for a detached single-family home with two of three bedrooms is around $720,000. Several of the historic homes in the area have sold for over $1 million.

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