Edgewater: Beauty by the Lake

Chicago is a city of neighborhoods, each diverse in culture and scenery. The Windy City is a very unique city and the neighborhoods that make up the city are rich with history and diverse cultures. Edgewater is a sprawling area with wider streets, spacious yards and friendly neighbors. The origins of the name Edgewater come from the developer J.L. Cochran, who wanted to create a small town in 1880; during this time the name Edgewater was being used widely throughout the area.

Edgewater has a population of 62,000 people and has the highest population density of any of the neighborhoods in Chicago. Within its borders are several smaller neighborhoods-Edgewater Glen, Andersonville, and Lakewood-Balmoral. Initially built up during the 1920s, this area of Chicago underwent several rounds of new construction along the lakefront and on major streets, leaving mixed housing with high-rises, condominiums, mid-rise multi-units and single-family homes interspersed.

The neighborhood is situated on Lake Michigan's shoreline, giving its residents great access to Chicago's beaches, bike trails, lake fishing and more. Plus, it's very close to Wrigley Field, home of the Chicago Cubs. The residents of Edgewater are really close to the center of the city as it takes a quick a 10-minute drive via Lake Shore Drive to reach downtown Chicago. The transportation system in Edgewater is excellent as people here have easy access to CTA trains and public transportation. Another bonus for its residents is the close proximity to bustling Loyola University. Edgewater has a wide range of local business establishments, as well as a fairly mixed housing market that attracts people of all types and income levels.

Residents of Edgewater can easily reach Hollywood Beach and 16 other parks and beaches nearby. Although Edgewater has had its problems with poverty in the past, the Edgewater Community Council has done a lot to turn the area around and its businesses and real estate market are thriving now.

Edgewater has a very diverse population. In fact, the area’s population is the community's key to affordability. Historically, this community has been a gateway community for new immigrant groups. It’s also home to plenty of native-born middle-class Americans who prefer the area's culture. Andersonville is a neighborhood influenced heavily by Swedish culture and home to the Swedish American Heritage Museum. Lakewood-Balmoral is located east of Andersonville and it is famous for its vintage homes and quiet residential areas.

The main shopping street is North Clark Street, which runs roughly north-south. In 2006, merchants along North Clark Street were subjected to significant increases in commercial property taxes, causing these independent shops to struggle somewhat. Though the residential property taxes have risen in the area, they have not skyrocketed like the commercial district in downtown Andersonville.

According to the numbers, the housing opportunities in Edgewater are affordable for most Americans. The city and developers have contributed to lower housing prices. There are also some programs that help Edgewater maintain its affordable housing. Actually, Edgewater is an example of a community that has comfortably combined affordable and market-rate housing. It’s one of just 10 U.S. neighborhoods the Fannie Mae Foundation named as “just right” for first-time buyers in 2000, offering “families of modest means a toehold on homeownership with an abundance of starter houses and good prospects for significant price appreciation.” The condominium is flourishing in Edgewater. About two-thirds of Edgewater's condo units are rental, while the others are owner-occupied. Nearly 1,000 rental apartments have been converted into condominiums over the last decade in Edgewater.

With its rising population, nowadays Edgewater has almost no vacant apartment high-rises. This is mainly due to the Community Council’s effort to clean up the streets, pressure municipal offices to enforce building and fire codes, organize block groups and neighborhood activities and obtain financing for the rehabilitation of deteriorating multifamily buildings.