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Lakewood Balmoral
Real Estate and Neighborhood Information

Lakewood Balmoral Overview

Lakewood Balmoral is a part of Edgewater.

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 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.


Lakewood Balmoral History

A tobacco salesman from Philadelphia named John Cochran visited the Edgewater community in the 19th century and envisioned it as becoming one of the finest suburbs north of Chicago. In 1885 he bought 200 acres of land in what was Lake View Township, and proceeded to divide the land into sections for development. Lakewood-Balmoral, then known as Cochran’s Third Addition to Edgewater, was the last of those sections.

Cochran may have been somewhat too successful in his ambitions because Chicago annexed all of Lake View Township in 1889 under the stress of public service demands by a growing population. Undaunted, Cochran continued to work at building the area into one of the most prestigious enclaves in the city. In 1899, he published A Home by the Lake, a booklet describing the benefits of owning a home in the area. It also functioned as a sort of catalog for potential buyers to view the housing available including, as it said, 'some of the best examples of English Gothic, Colonial, Flemish, Classic Colonial, Queen Anne and French Renaissance of the Transition period.'

Around 1893, the first homes to be built were scattered up and down the eight blocks of Lakewood and Magnolia avenues between Foster and Bryn Mawr avenues. West of the Third Addition, construction continued at a slower pace. At this time there were just a few shops and only one grocery store on Bryn Mawr Avenue. What is now Broadway was not originally planned for commercial development, instead an ice plant, stables and coal yards were built along the railroad tracks.

Following World War II, the once affluent Lakewood-Balmoral neighborhood (as well as most of Edgewater) experienced economic decline. Many beautiful older homes were subdivided into smaller units to accommodate the ballooning population in the 1970s, diminishing the lofty status of the neighborhood. The Edgewater Community Council was eventually organized to examine some of the issues the community faced due to this change, and over the next decade the council oversaw many improvements including increased policing and better zoning laws that led to more reasonable development.

In the 1990s, the National Register of Historic Places designated Bryn Mawr Avenue from Sheridan to Broadway as the Bryn Mawr Historic District. This section of Bryn Mawr defines the northern boundary of Lakewood-Balmoral and was designated historic for many of its architectural gems, and also because it was Edgewater’s town center.

Today, the neighborhood embraces its historic significance, as residents have endeavored to restore their homes to the way they might have looked in the 1920s and ‘30s and old-fashioned lamp posts light the quaint streets. Additionally, Lakewood-Balmoral plans to increase commercial development and bring more shops and restaurants to the neighborhood, and the current alderman is attempting to increase the number of parks in the ward in addition to improving the area’s existing recreational areas.

Dream Town Knows Lakewood Balmoral

As Chicago neighborhood experts, Dream Town has successfully sold properties in Lakewood Balmoral. Dream Town holds a well-earned reputation for its impressive sales volume and dedication to personal, attentive service. Benefit from the Dream Town advantage when selling your Lakewood Balmoral home. Utilizing state-of-the-art technology, Dream Town drives more sales than any other Chicago brokerage.

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The Sights of Lakewood Balmoral

Lakewood Balmoral Neighborhood Photo
Lakewood Balmoral Neighborhood Photo
Lakewood Balmoral Neighborhood Photo
Lakewood Balmoral Neighborhood Photo
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Lakewood Balmoral Neighborhood Photo
Lakewood Balmoral Neighborhood Photo

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Schools In The Lakewood Balmoral Area

See grade levels, address, and scores for schools in the Lakewood Balmoral area.

School Type Grade Rating

Brennemann Elementary School

4251 North Clarendon Ave - public

Preschool - Middle PK-8
7

Budlong Elementary School

2701 West Foster Avenue - public

Preschool - Middle PK-8
7

McPherson Elementary School

4728 N Wolcott Ave - public

Preschool - Middle PK-8
5

Waters Elementary School

4540 N. Campbell Ave - public

Elementary - Middle K-8
5

Passages Elementary Charter School

1643 West Bryn Mawr Ave - charter

Elementary - Middle K-8
6

Northside Catholic Academy

5525 North Magnolia Avenue - private

Preschool - Middle PK-8
NR

Our Lady Of Lourdes

4641 North Ashland Avenue - private

Preschool - Middle PK-8
NR

Queen Of Angels Elementary School

4520 North Western Avenue - private

Preschool - Middle PK-8
NR

North Park Elementary School

2017 West Montrose Avenue - private

Preschool - Middle PK-8
NR

Joan Dachs Bais Yaakov Elementary School

6110 North California Avenue - private

Preschool - Middle PK-8
NR

St Philip Lutheran

2500 West Bryn Mawr Avenue - private

Preschool - Middle PK-8
NR

Misericordia Mcauley Residence

2060 West Granville Avenue - private

Elementary, High 1, 4, 10-12
NR

Chicago Montessori

1713 West Cullom Avenue - private

Preschool - Elementary PK-2
NR

German International School Chicago

1726 West Berteau Avenue - private

Preschool - Middle PK-8
NR

Clinton Elementary School

6110 North Fairfield Ave - public

Preschool - Middle PK-8
6

Goudy Elementary School

5120 North Winthrop Avenue - public

Preschool - Middle PK-8
6

Hayt Elementary School

1518 West Granville Ave - public

Preschool - Middle PK-8
6

Mather High School

5835 North Lincoln Ave - public

High 9-12
4

Ravenswood Elementary School

4332 North Paulina St - public

Preschool - Middle PK-8
7

Sullivan High School

6631 North Bosworth Ave - public

High 9-12
1

School data provided by GreatSchools.School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly. GreatSchools Ratings provided by GreatSchools.org.

Surrounding Neighborhoods

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