Chicago real estate, living and neighborhood perspective
Chicago Lake Shore Drive at night

Walking Around

walking to an L train in Downtown Chicago.
Image via Wikipedia

A study published in August by nonprofit CEOs for Cities, a group of urban-redevelopment advocates, researched 90,000 homes across the country.  Their research showed that homes that had more amenities within walking distance can help sustain home values.  Certainly in today’s market it has been difficult even maintaining values, but as people look to cut down expenses, which includes their cars and associated costs (insurance, parking, gas, maintenance, etc) home buyers’ criteria can narrow.

In Chicago, the Brown Line follows some of the city’s most prominent neighborhoods, from the Loop downtown, north to River North, Old Town, Lincoln Park, Lake View, North Center, Lincoln Square, and Ravenswood, coming to an end in Albany Park.

Walk Score, another popular website that features a “walkscore,” a point based system that analyzes the number of amenities within walking distance is another growing site.  They feature their scores on numerous home listings and websites.  Some have argued that Walk Score not accounting for topography may be inaccurate (they use “as the crows fly” measuring tool, thus if you live across a lake, they are assuming you will swim there).  However, in Chicago, where topography is not an issue walkscore has become an invaluable tool for new residents moving into a new neighborhood.

With raised awareness about green living and the recent movement of Gen Y moving back into the city, the importance and having area amenities in walking distance is growing.  The CTA based on their 2010 budget have shown that train commuters have grown from 187 million in 2005 to estimate 202 million in 2009.

It’s not just city neighborhoods that becoming an option, nearby suburbs which connects with the city’s train system are becoming a viable option such Evanston and Skokie.

Sherwin is a REALTOR® in the Chicago & Suburban area with @properties. Questions can be forwarded to Sherwin Sucaldito

Creative Commons License

”Walking Around” by Sherwin Sucaldito is licensed under a Creative Commons Attribution-No Derivative Works 3.0 United States License.
Based on a work at Realty Evolved

Realty Evolved