Named after Chicago's largest park, the Lincoln Park neighborhood is considered one of the city's most desirable neighborhoods. While most Chicagoans have visited one of Lincoln Park's lakefront attractions at least once, what is the neighborhood really like for residents or prospective buyers? What's driving Lincoln Park's real estate boom?
We sat down with Justin Moore, a 14-year Lincoln Park resident and president of the Wrightwood Neighbors Association, to learn what makes this unique neighborhood tick and find out where things might be headed in the future.
So Justin, why live in Lincoln Park?
My favorite thing about Lincoln Park is its location. You’re a mile from downtown and right on the lakefront. The neighborhood itself also has so much personality and charm. I think Lincoln Park has got something for everyone. For example, you can walk down Lincoln Avenue on a Saturday night and see one crowd attending some obscure indie rock concert at Lincoln Hall and right across the street is a totally different crowd taking in some high culture at the Victory Gardens Biograph Theatre.
What are some of Lincoln Park’s top attractions?
I’d say the Lake and the Park are probably the biggest draws. You’ve got the Lincoln Park Zoo, Chicago History Museum, Nature Museum, Lincoln Park Conservatory, North Pond, Diversey Driving Range, Green City Farmers Market, and Chicago’s top beaches all right here on our front porch. Lincoln Park has a great theatre scene with the Steppenwolf, Royal George, Victory Gardens, and the Apollo and Theatre on the Lake is in the middle of a makeover. Kingston Mines and Blues Bar are must-visit venues for live music. Thanks to the late, great Charlie Trotter, the area around Halsted and Armitage is now a fine dining destination. I think it's also worth mentioning Lincoln Park’s old-school neighborhood institutions like the Burwood Tap, Stanley’s, Geja’s Cafe, and Twin Anchors.
How has the neighborhood changed since you moved here?
When I first arrived in Lincoln Park it was definitely a younger crowd, a lot of DePaul students and single post-grads in their early- to mid-twenties. That student demographic is obviously still present, but Lincoln Park has become the hot place for young professionals to settle down and start a family. If you walk down the street on a weekend it’s like the "Stroller 500" out there. We’re seeing that out-of-towners travelers want to be in Lincoln Park and get the neighborhood experience that downtown lodging simply can’t match. The Hotel Lincoln has been a major success and vacation rentals properties like those offered by AirBnb could not be more popular these days.
Why do you think Lincoln Park has become such an attractive choice for families?
Again, I think it comes down to our great location. Lincoln Park has fantastic schools so young parents don’t have to give up the perks of city living and flee to the suburbs to raise their kids. The neighborhood is safe and offers the kind of housing that young, affluent buyers are looking for.
Tell us a little more about the neighborhood's housing situation.
Lincoln Park is hot. It was fairly insulated from the Great Recession so our land values have soared and continue to climb. The cost of a condo is approaching what a single family home used to go for. Even though prices are up, Lincoln Parkers are living a lot larger these days. We’re really spreading out compared to how things were a couple decades ago. Multi-unit rental buildings are being de-converted into single family homes and often multiple single family lots are cleared for castle-like mansions. Tear-downs are prevalent and a lot of housing stock is selling before it’s even built.
So what are your least favorite things about the neighborhood?
Lincoln Park’s great location comes at a price. Rents are high and taxes continue to go up. High land acquisition costs trickle down and affect everything. For example, if you go out to a local joint for a burger you’re going to pay prices comparable to downtown. Though living here is expensive, you can say the same thing about other hot Chicago neighborhoods like Bucktown and Wicker Park. With rising real estate prices in those areas, comparable apartments or condos in Lincoln Park really aren’t priced too differently. You can pay to live out there next to a highway or you could pay the same to be over here and live next to the Lake. So for me it’s an easy choice.
Do people have any unfair stereotypes about Lincoln Park?
I think people have a misconception that Lincoln Park is only a rich person’s neighborhood. We have some ultra-wealthy residents, but there are middle-class people who have lived here their entire lives who are very involved in community. Some of these residents feel the pressure of rising rents or increasing property taxes and might be making sacrifices to stay in Lincoln Park because they want to stay. Not every property is a multi-million castle.
So what’s next for the neighborhood regarding real estate and development?
Obviously we’ve got the long-discussed Children’s Memorial Hospital redevelopment on the way which should help bring some energy back to Lincoln Avenue that left when the hospital left. The upcoming transit-oriented Elevate Lincoln Park project from Baker Development is exciting and is a model that could be repeated on other commercial streets where higher density and lower parking makes sense. I think TOD has its place here because Lincoln Park is a very walkable neighborhood with good access to public transit and cycling is hotter than it’s ever been.
The single biggest development issue we’re looking at is Finkl steel site. In my opinion, riverfront land on the north side is simply too valuable for heavy industry to make sense anymore. The Planned Manufacturing District (PMD) designation needs to be amended but there are infrastructure and environmental issues that need to be addressed before the site can become a tech campus or housing or some combination of the two. We’ve got a public meeting coming up May 3rd to further discuss future plans for Finkl.
- Previous Lincoln Park Coverage [Curbed Chicago]