AOL Real Estate - Blog

Live Small Among the Millionaires in Chicago's Lake Forest Suburb

Laurie Borman — 2010-03-15T16:30:00 00:00

Want to live like a millionaire? Buy this simple house in Lake Forest, Ill. -- a one-bedroom, one-bath cottage for $350,000 listed by Coldwell Banker. It's just a few blocks from a similar one-bedroom, three-room cottage owned by Grace Groner, 100, who died in January and left $7 million to her alma mater, Lake Forest College. Yes, you read that right. A multi-millionaire lived in a similarly simple home in the high-end Lake Forest neighborhood outside Chicago.

Groner, a former secretary for nearby pharmaceutical company Abbott Laboratories, made her millions from just three shares of Abbott stock she bought in 1935 for $60 each, according to the Chicago Tribune.

You might wonder where Groner lived in Lake Forest. That swanky neighborhood doesn't grow too many small homes like this one. Instead, the architecturally significant Chicago suburb 30 miles north of the Loop with an average household income is more than $200,000, has properties for sale more like this eight-bedroom, 13-bath mansion (left) on the lake currently listed at $15 million.

Groner's cottage is at 144 Washington Road, walking distance to the Lake Forest Country Day School, golfing at the private Onwentsia Club, and a short walk to her beloved Lake Forest College. Groner's home was donated to the college and officials say they intend to use it for recipients of her scholarship.

While there is a two-bedroom home built in 1908 at 163 Washington Road going for $250,000 (with $6,300 in annual property taxes) this is not an inexpensive neighborhood. On the same street, a five-bedroom, five-and-a-half-bath home with 3,062 square feet at 138 Washington Road is listed at $924,900. This is the east side of Lake Forest, closer to Lake Michigan and the location of some of the most expensive homes. There are homes in Lake Forest designed by architects such as David Adler and Howard Van Doren Shaw, and landscaped by Jens Jensen and Frederick Law Olmstead.

Lake Forest residents enjoy a 29-acre beachfront park with sailboat marina and sculpted swimming coves, covered picnic area, and outdoor showers for washing off sand.

In summer, Lake Forest polo matches take place on park district property near Green Bay Road. Matches have been played in the suburb since the 1930s.

Openlands, a ecosystem preservation project started in the 1960s by local residents, has preserved more than 700 acres in the city limits with paths for walking and biking. The 25-mile Robert McClory Bike Path runs through town, connecting Lake Forest with suburbs along the lake from Lake Bluff south to Evanston. And Lake Forest's downtown offers a mix of boutiques, bistros, grocery stores, and banks.

See more homes for sale in Chicago's Lake Forest suburb at AOL Real Estate.

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Big Value in Chicago's Bronzeville Neighborhood

Laurie Borman — 2010-03-10T09:00:00 00:00

Filed under: Lifestyle

Chicago's Bronzeville neighborhood prepped for its biggest influx of residents since the post Civil-War Great Black Migration when it bid for the 2016 Olympics last year. Rio de Janeiro won the bid, but that just makes Bronzeville an even better housing value.

Once one of the only Chicago neighborhoods where African Americans could reside, it was the home of Louis Armstrong, poet Gwendolyn Brooks, and founder of the Negro Baseball League Andrew "Rube" Foster. Currently on the market for $995,000 at 3619 S. King Drive: a four-bedroom 1890s brownstone owned by Etta Moten Barnett, the inspiration for Bess in Gershwin's "Porgy and Bess." (Listed by Bronzeville Properties LLC.) Gracious mansions, townhomes, condos, and rental apartments make up the diverse housing stock here.

Mel Monroe, 55, owner of the Welcome Manor Inn B&B, has lived in neighborhoods all over Chicago since he arrived in 1991, but he likes the beautiful architecture and extensive African-American history Bronzeville offers. While he says the number of restaurants and other business services could be expanded, he enjoys easy access to South Loop and Hyde Park dining and shops.

It's home to the prestigious Illinois Institute of Technology, Shimer College, and is close to McCormick Place and U.S. Cellular Field, home of the Chicago White Sox. The main drawback is a high crime rate. EveryBlock reported nearly 300 crimes in the last 30 days ranging from vandalism and narcotics arrests to armed robbery. Plans are underway to build low-rise townhomes and single family homes as well as retail along State St. where the 28 high-rises of the former Robert Taylor Homes housing project stood.

Monroe's Top Five Reasons for Living in Chicago's Bronzeville:

More space and style for the money. Though he's lived in the South Loop, River North, Lincoln Park, and the West Loop, Monroe says he settled in Bronzeville with his wife, Angela Higgenbotham, because he could get a spacious, stately brick home with six bedrooms for far less than any other neighborhood in town.
Close to the Loop. A 15-minute drive up State St. brings residents to downtown businesses, shops, and transportation hubs.
Ample, free on-street parking. "We have very few metered spots," Monroe says. Street parking in most city neighborhoods means pay parking, and sometimes at high rates of $2 for 20 minutes.
Walking distance to Lake Michigan. It's a 12- to15-minute walk for Monroe to the parks and paths of Lake Michigan.
Easy highway access. "You're just five minutes' drive to I-55, I-94, I-90," Monroe says.

According to the Chicago Tribune:

Prices range from $35,000 to nearly $1 million, with historic brownstones and greystones near Lake Michigan fetching higher prices.
Many homes average $150,000 to $250,000.

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Why I Live in Chatham, Chicago

Laurie Borman — 2010-02-17T14:00:00 00:00

Filed under: Lifestyle

Tiffany Harston, an assistant principal, says what she loves best about her Chicago South Side Chatham neighborhood is its stability. "It's known to be a nice, family-oriented black community where a lot of middle-class families reside," she says. And that includes some famous former residents.

Chatham is the childhood home of Nat King Cole, whose father preached at True Light Baptist Church. You'll find Nat King Cole Park, which features an outdoor basketball court and spraypool at 361 E. 85^th St. in Chatham not far from his father's church. Also in Chatham is Tuley Park, 501 E. 90th St., with a swimming pool, gym, tennis courts, baseball field, and more.

Bounded by 79^th Street on the north, 95^th on the south, and roughly the Dan Ryan Expressway west and Cottage Grove on the east, Chatham offers a mix of housing stock from the iconic Chicago brick bungalows to Victorians, ranch homes, even Tudors and town homes. Harston notes, "Homes are a nice size and have lots of character."

Most of the rental buildings lie along 79^th and 81^st Sts.

Harston, 34, grew up in the neighborhood and currently lives in a four-story brick home with her husband. Her other reasons for loving Chatham:

Prestigious African-American businesses. Not only is this where these business started, like Illinois Service Federal, Seaway National Bank, and Johnson Products, but it's where their owners live. I can remember as a child that the Johnsons were not just members of this community, but they were members in this community," she says.
Long-time residents. "You don't get a lot of turnover, " she says. "Most of the people on my block are older people, or its their children or grandchildren in the home. The history is rich in the homes over here. You don't get a lot of newcomers."
Close to family. "We're centrally located, less than 15 minutes from all our families, north side, west side, south suburbs."
Close to attractions. "We're not far from the lake, and some of the city highlights, like the Museum of Science and Industry, the University of Chicago, Hyde Park, a lot of the mom and pop shops, the DuSable Museum," she say. "they're all within a 5-10 mile radius from us."

Access to city transportation. Harston notes that there are Metra and L stops and a bus line. "If for some reason we're unable to drive, we're situation in a position where we have access to public transportation, " she says.

A few stats on Chicago Chatham neighborhood from the Chicago Tribune:

Median home price: $152,500
Current listings from $52,000-$195,000
Half owners, half renters
About 35,800 people live in the neighborhood

For more Why I Live In... features, click here.

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Why I Live in Bridgeport, Chicago

Laurie Borman — 2010-02-11T12:00:00 00:00

Filed under: Lifestyle

South Side Chicago's Bridgeport neighborhood is probably best known as the boyhood home of Mayor Richard M. Daily, and where his father, the late Mayor Richard J. Daily, lived all his life. That solid-brick bungalow (left) is at 3536 S. Lowe St.

The neighborhood's also close to U.S. Cellular Field, where the White Sox play at 333 W. 35th St.. But Bridgeport's real home run is the low home prices and rents and proximity to area attractions that draw crowds of families and young singles.

Alyse Cerone,29, who's lived in Bridgeport for just under a year in a one-bedroom unit, says location, convenience and safety top her list of reasons for calling the neighborhood home. Her top five...

Proximity to the Loop. "The fact that you're only 15 minutes by car to downtown," she says, makes it an ideal location for people who like to explore all of the city.
Proximity to highway system. "I'm the one of my friends that always drives," says Cerone. "It doesn't take me long to get anywhere because I'm near (interstates) 290, 255. I've got options, unlike people who live in Lincoln Park and only have Lake Shore Drive. The highways make it so easy to get places."
Family friendly neighborhood. "All of my neighbors are always out in the summer. Everybody notices what goes on. They're concerned about me. If they haven't seen me in a while, they'll say, 'Where have you been?' And since I live by myself, I like that."
Local dining. "The Mom and Pop restaurants are unique. I like going to one-of-a-kind places. And it doesn't cost you $200 to go out to dinner." Places like the Bridgeport Restaurant and Dox's serve up American fare at reasonable prices.
Safety. "This is an old-fashioned Irish neighborhood. There's a higher percentage of service people--policemen, firemen that live here. That makes it safer."

The Scoop on Bridgeport: A number of homes in the Bridgeport neighborhood, like the historic Daley home, are classic Chicago brick bungalows. The Historic Chicago Bungalow Association supports owners who want to rehab their properties, and will be offering seminars on preservation, rehabilitation, energy efficiency, and financing from now through May to homeowners. In addition, a lot of new housing -- including gracious brick townhomes of the Lexington Square Development and other condos -- have come on the market in the last several years.

A few stats on Bridgeport home values from the Chicago Tribune:

Homes: $200,000 to over $2 million
Condos: $140,000 to $460,000
Townhomes: $400,00 to $600,000
Top agencies representing Bridgeport: @Properties, Coldwell Banker

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