Is Glencoe an alternative to some Chicago neighborhoods?

by Joe Zekas on 9/10/12

Glencoe has a small, but surprisingly lively downtown near its Metra station. The downtown area has one-of-a-kind shops, sidewalk cafes, the Writers’ Theatre, a farmers market, the wildly-popular Friends Park, and more.

I’d consider living near downtown Glencoe a viable alternative to many low-density in-city neighborhoods along the CTA Brown Line, especially for anyone concerned about public schools. As a bonus, and depending on where you live and your destination in the Loop, the Metra may offer a shorter commute from Glencoe than the Brown Line from the northwest side.

Two years ago I sat in Friends Park with Shirley Olin, chatting about Glencoe, where she’d managed a Coldwell Banker office for more than 30 years. We continued our conversation at the Starbucks, around the corner from Friends Park.

A 5-bedroom, 4 ½ bath home directly across from Friends Park at 724 Vernon Ave just came on the market, priced at $1,250,000. It’s described as an “extreme makeover” of a “historically significant home.”

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{ 6 comments… read them below or add one }

Bob September 11, 2012 at 9:55 AM

Yes, Glencoe, with it’s population of under 9k, median household income of 516k, combined black/Latino population of less than 5%, and median home price of 2.6M is just like the NW Side of Chicago! I mean both have streets, and shops, and a train, and people too.

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Joe Zekas September 11, 2012 at 2:38 PM

Did you read what I wrote, Bob?

I don’t know where your median $2.6M comes from. The median sale price last month, according to Redfin, was $808K. And your laughable $516K for median household income, what’s your source for that?

What’s the population of Roscoe Village? Hint: less than Glencoe. Roscoe Village has fewer Blacks than Glencoe. And the median price of a single-family home in RV?

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Bob September 11, 2012 at 3:01 PM

Joe,

I did read the entire article, and I got the data from Money Magazine via Wiki.
http://en.wikipedia.org/wiki/Glencoe,_Illinois

Glencoe was listed as the 6th highest Top Earning town in the country by Money.com
Median household income: $516,908
Median home price: $2,657,234

There are certainly similarities between some Chicago enclaves on the n/nw sides and the north shore. I just don’t think there are sufficient similarities to classify them as substitute goods in the real estate market. I doubt many people in the market for a single family house in Roscoe Village are also looking in Glencoe, and vice versa.

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Joe Zekas September 11, 2012 at 3:36 PM

Bob,

You could also have used the Census data from your cite (median household income $164K).

Or you could have gone directly to CNN Money and found that Wikipedia radically misstated the CNN Money numbers. If you had any familiarity with the demographics of the North Shore and home price levels you’d know the Wiki CNN Money numbers were completely whacked.

My point wasn’t whether people considering RV are also considering Glencoe – but that perhaps they should.

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pedro September 11, 2012 at 4:31 PM

Simple answer is no.

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SheridanB September 18, 2012 at 9:23 AM

The brown line is what makes the difference – no worries about schedules and frequent service all day and on weekends vs having to drive everywhere else. The housing stock is also totally different, the city’s being smaller and, mostly, older vs. large(ish) single family houses – the one featured above certainly has no peers along the brown line, though perhaps there are some similar in Kenwood, JP Highlands or Beverly.

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