New Homes Magazine has named South Chicago one of Chicago’s hottest neighborhoods.
“Commercial and residential improvements have been underway in South Chicago for years, and the neighborhood, which has had its share of gang and crime problems, has benefited from the citywide real estate boom of the last decade. In 2005, the median price of a single-family home in South Chicago was just $128,706, but that represents an increase of 115 percent over the median in 2000.
That’s not why South Chicago makes our list, however. You can find the reasons, all 578 of them, on the lakefront between 79th Street and 87th Street. U.S. Steel closed its South Works plant in 1992, and the site is the largest chunk of open land slated for development in Chicago. And it sits on the lake. “It’s amazing,” one city spokesperson said. “It’s like a big prairie out there the size of the Loop.””
Read the entire review of South Chicago and check out the other Chicago neighborhoods that made the list in New Homes Magazine.