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Gold Coast Neighborhood Summary

Updated: Feb 16, 2022


Neighborhood Report

Cost of Living: High

Public Transit: Excellent

Nightlife: High

Restaurants: Excellent

 

The Gold Coast neighborhood is a mix between beautiful private residences and high-rise apartments. The Gold Coast is known for its Oak Street Beach and its high-end restaurants and shopping.


The Gold Coast neighborhood grew in the wake of the Great Chicago Fire. In 1882, then millionaire Potter Palmer moved to the area from the Prairie Avenue neighborhood on the city's south side. Palmer filled in a swampy area - which later became Lake Shore Drive - and built the Palmer Mansion, a forty-two room castle-like structure. Other wealthy Chicagoans followed Potter into the neighborhood, which became and still is one of the wealthiest in Chicago, hence the name "Gold Coast".

 

Location

The Gold Coast neighborhood is located north of downtown Chicago (the Loop) and is a part of Chicago's Near North Side community. The neighborhood is bound by North Avenue on the north, Lake Shore Drive on the east, Oak Street on the south and Clark Street on the west. The Gold Coast has very easy access to the subway Red and Brown Lines as well as bus routes.


Gold Coast has some of the most high-end shopping in the nation and is further surrounded by more great shopping on Michigan Avenue. In addition, Gold Coast has some very iconic Chicago restaurants located in the neighborhood with histories dating back 30+ years.

 

Cost of Living

The Gold Coast neighborhood is a historic neighborhood with many iconic buildings and boasts a great location. Rents typically range from $1,400 through $5,000 per month depending on the size, location, newness and the level of luxury of the apartment building. Condos and private homes can exceed $5,000,000+ depending on the historic value, upkeep and size. As all other downtown Chicago neighborhoods, parking ranges from $200 to upwards of $400+ per month.


In summary, this historic neighborhood is beautiful, calm and conveniently close to many of Chicago's historic sites. Gold Coast has the perks of living close to the lake, Oak Street Beach, the Loop, running routes and all of the wonderful downtown parks that Chicago has to offer. This wonderful downtown neighborhood is definitely a worthy consideration if you are looking for city living in Chicago.


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