Old Town is a neighborhood in Chicago, Illinois, bounded by Larrabee Street on the west, Clybourn Avenue on the southwest, Division Street on the south and LaSalle Street on the east and northeast. It spans across eastern parts of the community areas of Lincoln Park and the Near North Side. Old Town includes the Old Town Triangle Historic District, bounded on the northeast side by Lincoln Avenue and Wells Street, and on its south side by North Avenue. Old Town is today considered an affluent and historic neighborhood, home to many of Chicago’s older, Victorian-era buildings. In the 1950s, the majority of this area was an enclave to the first Puerto Ricans to emigrate to Chicago. They referred to this area as part of “La Clark” until commercialization decorated late 1960s shop signs with the name of Old Town. The neighborhood is home to St. Michael’s Church, originally a Bavarian-built church, and one of 7 to survive the path of the Great Chicago Fire. St. Michael’s, Holy Name Cathedral, Immaculate Conception and St. Joseph’s catered also to Latinos with Spanish-speaking masses.
The neighborhood is known for the famed The Second City improvisational comedy troupe.
Old Town was also home to many gays & lesbians from the 1920s through the 1980s. There were numerous gay bars lining Wells Street (all of them closed now). This was the first “gay ghetto” in Chicago, predating the current Lake View neighborhood (which is the current epicenter of gay life); the first homophile organization in American history, the Society for Human Rights, was established by Henry Gerber at his home on North Crilly Court in 1924. As the area gentrified, the gays moved further north to Lincoln Park and then Lake View neighborhoods.
Old Town has one Brown-Purple Line ‘L’ station at 1536-40 North Sedgwick Avenue. It is one of the oldest standing stations on the ‘L’.
Old Town, Chicago: Historic Charm and Vibrant Community
Old Town is one of Chicago’s most historic and charming neighborhoods, known for its well-preserved architecture, lively atmosphere, and strong sense of community. Located just north of downtown, Old Town blends historical significance with modern urban living.
Why Choose Old Town?
Historic Appeal: Old Town is renowned for its historical significance and architectural charm. The neighborhood features a mix of Victorian-era homes, historic brownstones, and classic Chicago greystones. The Old Town Triangle Historic District is a notable area that preserves the neighborhood’s rich architectural heritage.
Cultural and Entertainment Hub: Old Town is a cultural and entertainment hotspot with a variety of theaters, music venues, and historic sites. The Second City, one of Chicago’s most famous comedy clubs, is located here, and the neighborhood hosts numerous festivals and cultural events throughout the year.
Green Spaces and Recreation: The neighborhood is home to Old Town Park, a welcoming green space with playgrounds, walking paths, and community events. Old Town’s proximity to Lincoln Park provides residents with access to extensive recreational facilities, including the Lincoln Park Zoo and nature trails.
Dining and Shopping: Old Town boasts a vibrant dining scene, with a range of options from casual eateries to upscale restaurants. The neighborhood also features unique boutique shops, local markets, and antique stores, providing a diverse shopping experience.
Family-Friendly Atmosphere: With its excellent schools, parks, and community-focused events, Old Town is popular with families. The neighborhood’s safe streets, family-friendly amenities, and strong community feel make it an appealing place to raise children.
Convenient Transportation: Old Town is well-connected to downtown Chicago and other neighborhoods through public transportation, including CTA’s Brown and Purple Lines. The neighborhood’s proximity to major roads and highways also facilitates easy commuting and travel.
Real Estate in Old Town
Old Town offers a range of real estate options, from historic homes and charming condos to modern apartments. Here’s an overview of the typical price ranges for different property types:
Condos and Apartments:
- One-Bedroom Condos: Prices generally range from $275,000 to $500,000. Smaller or older units are on the lower end, while larger or newly renovated condos with modern amenities are priced higher.
- Two-Bedroom Condos: Typically priced between $450,000 and $800,000. Prices vary based on factors such as location, building amenities, and interior finishes.
- Three-Bedroom Condos: Prices usually range from $700,000 to $1.5 million. Larger units with premium features, views, and modern updates are at the higher end of the spectrum.
Single-Family Homes:
- Single-Family Homes: Prices generally start around $900,000 and can exceed $2.5 million. Homes with historical significance, extensive renovations, or prime locations within the neighborhood are priced higher.
Lofts:
- Converted Lofts: Prices range from $400,000 to $1.2 million. Lofts with unique architectural details, such as exposed brick and large windows, are particularly sought after.
Rental Market
- Studio Rentals: Typically range from $1,700 to $2,300 per month.
- One-Bedroom Rentals: Usually between $2,000 and $3,500 per month.
- Two-Bedroom Rentals: Can range from $2,800 to $5,000 per month.
- Three-Bedroom Rentals: Rentals can go from $4,000 to $7,000 per month, depending on the unit’s size, location, and amenities.
Market Trends and Insights
- Appreciation and Development: Old Town has experienced steady appreciation in property values due to its historic charm and prime location. The neighborhood continues to attract buyers and investors interested in its unique character and strong community atmosphere.
- Diverse Community: The neighborhood appeals to a diverse mix of residents, including young professionals, families, and retirees, thanks to its blend of historic charm, modern amenities, and cultural vibrancy.
Community Highlights
- Neighborhood Vibe: Historic, charming, and vibrant with a strong emphasis on community and culture.
- Walkability: Highly walkable, with easy access to public transportation, green spaces, dining, shopping, and cultural venues.
- Notable Landmarks: Old Town Park, Second City, the Old Town Triangle Historic District, and various historic sites and theaters.
- Schools: The area is served by several well-regarded public and private schools, adding to its appeal for families.