Near Eastside is Chicago's newest neighborhood. It's a mixed-use area comprised of full-service luxury condominiums, hotels and office towers, sandwiched between the Chicago River and Millennium Park, with a prime locale right on the lakeshore. The neighborhood is extremely vertical with several residential buildings and hotels topping the 40-story mark. For the most part, Near Eastside caters to single working adults, couples, and young families who enjoy the good life, paired with the convenience of being steps from the lakefront and walking distance to the Loop. The neighborhood is centered about an award-winning, terraced park that encompasses landscaped fountains and flowers, a playground and a kiddie spray pool. Restaurants, grocery stores, coffee shops and a couple bars are found along the outer streets. Business and retail are steadily moving into the area as more condominiums are built in the rapidly-growing Near Eastside neighborhood.
New Eastside Real Estate and Neighborhood Information
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New Eastside Real Estate
Near Eastside is a bustling neighborhood that looks to provide strong value in the Chicago condominium market for the next several years. Once a popular spot for working singles, the neighborhood is now looking more attractive to families. With the development of Lakeshore East Park and the plans for a new school, there is interest in the neighborhood that would have been unheard of a decade ago.
The neighborhood exudes urban sophistication and modern charm. With its hotels and soaring office and condominium towers, this is a great neighborhood for anyone who appreciates high-rises and the history of the skyscraper. Within several blocks are two buildings that were once the tallest structures in the city. And if you happen to have a yacht, the neighborhood boasts its own marina that spans the length of the shoreline along Near Eastside providing slips to park your boat during the summer months—makes hopping in your sea faring vessel a snap for those weekend cruises out in the open water.
Even though residents are surrounded by glass, steel and concrete, the development of major parks nearby has made this a beautiful outdoor recreation area as well. When the weather is warm, the Pritzker Pavilion and its beautiful Frank Gehry-designed band shell is an easy five-minute stroll away. There are tennis courts in Grant Park, a running and biking path hugging the lakeshore, and the Museum Campus is within walking distance as well. Not to mention the waterfront is at your disposal anytime of day or night, and when those fireworks shoot off of Navy Pier throughout the summer (on Wednesday and Saturday evenings), Near Eastside residents have front-row seating—in their living rooms.
Many of the older condominiums in Near Eastside neighborhood have been updated over the years by their owners so prices can vary depending on the amount of upgrades that have been added. For a starter studio or one-bedroom condominium in this neighborhood, expect to pay around $250,000. Just know various options such as balconies and parking can drive the price up considerably. The other major consideration is the view…generally speaking, units on the north side sell for less than units on the south side.
On the higher end, condos in Near Eastside neighborhood can cost as much as $1.4 million for a three-bedroom place with breath-taking views of the water, luxury amenities and finishes, and garage parking space. Of course, not all residences in the neighborhood are million-dollar properties. There are plenty of good-size condos with a couple of bedrooms and parking that range in price from $350,000 up to $990,000. But no matter how much you end up spending on your Near Eastside abode, you’re sure to fall in love with the absolutely priceless setting of downtown waterside living.
New Eastside market trends
The average sale price of a home in New Eastside is represented by the chart to the right. The red line indicates the average price based on the total time frame selected in the drop-down window. The blue line indicates the average sale price for the particular month within that time frame. For more detailed information on New Eastside sign up for the trends report below or contact your Dream Town broker.
The average number of days a home in New Eastside spends listed for sale is represented by the chart to the right. The red line indicates the average number of days based on the total time frame selected in the drop-down window. The blue line indicates the average number of days a home spent on market during the particular month within that time frame. For more detailed information on average market listing times in New Eastside sign up for the trends report below or contact your Dream Town broker.
The average sale price of a home compared to its listing price in New Eastside is represented by the chart to the right. The black line indicates the baseline listing price for homes during the time frame selected in the drop-down. The red line indicates the difference between the average listing price and the average sale price during the particular month within that time frame. For more detailed information on New Eastside sign up for the trends report below or contact your Dream Town broker.
The total number of listings in New Eastside is represented in the chart to the right. The red line represents average number of days based on the total time frame selected in the drop-down window The blue bar represents the current number of listings during the particular month of that time frame. For more detailed information on New Eastside sign up for the trends report below or contact your Dream Town broker.
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