Uptown in the News
June 13/14, 2007
The winds of commercial and residential revitalization are blowing through historic Uptown, one of the latest Chicago lakefront neighborhoods to experience new growth and neighborhood development.
The diverse community is getting a face-lift thanks to major new neighborhood developments like Wilson yard, an innovative 5-acre mixed-use residential and retail development between Montrose and Wilson avenues just west of Broadway.
Projects like Wilson yard are fueling the new look of Uptown, and real estate experts say now is the time to take advantage of the affordable housing stock available in Uptown.
“Home shoppers looking for everything from affordable condos and rental apartments to posh lofts and a Queen Anne mansion can take their pick at the diverse housing stock in the Uptown neighborhood.,” noted Paul Hardej, president of Metropolitan Development Enterprises, which is developing the ambitious Rainbo Village on the 2-plus-acre site of the former Rainbo Roller Rink.
Although the Uptown neighborhood is still a haven of reasonable priced housing units, real estate experts say prices are rising and time is running out to make an investment in the community as buyers continue to be lured by the area’s lakefront location shopping amenities, transportation opportunities and cultural attractions.
Uptown may not yet be “Yuptown,” but a revitalization of the neighborhood—bounded roughly by Irving Park Road, Foster Avenue, Lake Michigan and Clark Street—has been in progress for more than a decade, real estate sources say.
The greater Uptown community consists of several smaller upscale residential enclaves, including several historic landmark districts with diverse housing stock.
Uptown’s upscale enclaves include; The Hutchinson Street District (a city landmark district), the Sheridan Park Historic District (a national landmark district), Buena Park Historic District (a national landmark district), Clarendon Park and Margate Park. Each of the landmark districts has its own homeowners association and owners gather for a monthly meeting with the Uptown Chicago Commission.
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