Edgewater’s affordability, livability, accessibility to public transport, and adjacency to the Lake Michigan lakefront have made this Chicago’s “it” neighborhood. Even though Edgewater ranks as one of Chicago’s most densely populated areas, renters and new buyers continue to be attracted to this neighborhood, causing a population increase of 2.46% in the last decade. Now with a population of 62,500, Edgewater has been a very steady and diverse community since the 1970s. A recent census put the demographic makeup at 48% white, 17% black, 20% Latino, and 12% Asian. The senior population is down 18%, as the number of families with children increases.

Currently containing more than 30,000 housing units of varying types and sizes, Edgewater has room for yet more residents. In addition, the amount of small businesses coming into the area has increased the investment potential for property owners. For example, in the last five years, Edgewater has seen the openings of 25 new restaurants and 21 antiques dealers, more than any other Chicago neighborhood.

A 1.5-square-mile North Side neighborhood bordered by Lake Michigan and Devon, Ravenswood and Foster Avenues

With the core element being affordable housing, Edgewater’s Community Council has taken a hands-on approach to expansion, focused on preserving, rather than tearing down, troubled buildings. Thankfully, Edgewater developers have a creative approach to everything, especially housing. Many buildings have been rehabbed and converted to condominiums.

There are more mixed-use residential and commerical projects planned along Broadway and Catalpa Avenue and on Bryn Mawr, and more moderately priced restaurants alongside expensive townhouses at Bryn Mawr and Sheridan.

You can find a studio apartment in a condominium conversion for $75,000 and up, while a one bedroom will start at $114,000 and a 3,200 square foot unit will run upwards from $365,000.