$1,028,653Average Value$491Average Price per Sq Ft64Homes For Sale
A Chicago neighborhood home to a bustling commercial district and high-rise condos
The Chicago neighborhood of Magnificent Mile received its name in the 1940s after developer Arthur Rubloff noted that the stretch was home to architectural gems like the Wrigley Building, the Tribune Tower, and the Palmolive Building. Since then, Mag Mile, as it is locally known, has welcomed a luxe commercial district featuring upscale restaurants, retailers and high-rise condos, offering residents plenty to do close to home. “While Lincoln Park has that classic neighborhood feel with tree-lined streets, as you go further south into Magnificent Mile, you start getting into high-rise living, and the city of big shoulders comes at you fast,” says Grigory Pekarsky, Realtor with Vesta Preferred LLC, who has 16 years of selling experience in Chicago. “You’re not getting your own doorstep, but you’re getting convenience. People value that here. They want that lifestyle.”
Luxury high-rises tower over Mag Mile offering residents lakefront views from the sky.
Mag Mile homes line the shores of Lake Michigan and boast some of the best views in the city.
Mag Mile is home to Chicago's Neo Gothic landmark architecture at the Wrigley and Tribune tower.
1/3
The retailer and eateries of North Michigan Avenue
Considered Chicago’s most idyllic commercial district, a walk down North Michigan Avenue includes stops into an array of stores, from ZARA and Tommy Bahama to luxury retailers located in Saks Fifth Avenue. Many, including tourists, come to the area to do seasonal shopping or spend the day peeking through the impressive storefronts. Many restaurants call Mag Mile home, like Pierrot Gourmet at The Peninsula, offering mid-day snacks in the form of pastries and coffee out on its patio. Though filled with fine-dining opportunities, according to locals, Gino’s East on East Superior Street is the go-to spot for a casual dinner. “It’s the place to be,” says Marcus Franklin, a Chicago native and longtime resident who now lives in the suburbs to the north. “You go in, write your name on the wall and then enjoy a Chicago-style deep-dish pizza.” For meals at home, residents head to the Trader Joe’s on East Ontario Street to stock up on groceries.
Michigan Ave aka "Mag Mile" is home to flagship retail stores and luxury brands.
Flagship stores elevate brands public image as they claim prime retail real estate on Mich Ave.
Walking on Michigan Ave is known for its see and be seen shopping experience.
Ginos East brings deep dish to the Mag Mile with a variety of in house pies and casual dining.
1/4
The homes of Magnificent Mile
Homes in the community come in high-rise condo buildings that overlook the streets beneath. These break off from the wide residential sidewalks and lead into lobby areas, many of which feature a concierge at the entrance. Built during the mid-to-late 20th century, these many include large windows, providing residents with panoramic views of the Chicago skyline. Prices range from $195,000 for a single bedroom to $700,000 for a larger multiple-bedroom space. However, units with expansive square footage featuring building amenities from spas, community pools and fitness centers can reach up to $3.25 million.
Condos in Mag Mile come in a variety of sizes from low to high-rise towers next to the MCA.
Gilded entrances to Mag Mile homes portray a level of sophistication in the housing supply.
Mid and Highrise condos line the shores of Lake Michigan as the sunsets over the Mag Mile.
1/3
Wintertime visits to The Christkindlmarket
When the holiday season rolls around, many head less than a mile south to The Christkindlmarket on West Washington Street. “It’s a staple for people living in Chicago,” says Franklin. Here, shoppers enjoy seasonal candies while exploring an array of local vendors. “We used to take the kids there every year and visit the same artist who makes glass-blown ornaments, and now we have 13 years' worth,” shares Franklin In the summer, the SOAR Farmers Market at the Museum of Contemporary Art plaza welcomes residents every Tuesday, with booths selling fresh produce, flowers, baked goods and more.
Families enjoy a cold day at the Christkindlmarket in Chicago.
The SOAR Farmers Market at the MCA welcomes residents each Tuesday with produce and baked goods.
1/2
The shores of Ohio Street Beach
Residents have plenty of recreational opportunities, including trips to the Museum of Ice Cream on North Michigan Avenue and the Wrigley Building, to appreciate the architecture of the historic Chicago landmark. Time by Michigan Lake is spent 4 blocks east at Ohio Street Beach, where many go for walks along the beach or jog along the paved parallel pathway.
Ohio St Beach is family friendly with a foam walk way across the sand.
Bikers race down the lake shore path as it runs through Jane Adams Memorial Park.
Mag Mile residents enjoy the pristine shoreline at Ohio St Beach all summer long.
1/3
Getting around on the Red Line
Two Red Line stops are along North State Street: Chicago Station at the intersection of West Chicago Avenue and Grand Station at East Grand Avenue. These both sit a 2-block stroll east of the neighborhood and provide passengers access to the entire city. Meanwhile, those traveling out of the city can reach flights at Chicago O’Hare International Airport via I-90, or the CTA Blue Line. Closer to home is John H. Stroger Jr. Hospital, a 5-mile drive on Ontario Street, and the University of Illinois Chicago campus, a 3-mile trip along the same route.
Commuting around the Mag Mile is easy with several stops available on the CTA Red Line.
The CTA operates several stations in the Mag Mile quickly connecting residents between lines.
1/2
Getting schooled in Magnificent Mile
Students from prekindergarten through 8th grade can attend Ogden Elementary School, which maintains a B-minus grade on Niche. Meanwhile, older students can head to William H. Wells Community Academy High School, which holds a C-plus rating. Private schools, Frances Xavier Warde School and The Latin School of Chicago are also close by, and both maintain an A-plus rating.
Nearby the Magnificent Mile is Ogden Elementary, a branch of the Ogden International School of Chicago.
GreatSchools:
The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process.
View GreatSchools Rating Methodology
Interested in learning more about homes in this area?
Reach out to
Larissa Brodsky,
an experienced agent in this neighborhood.
Parks in this Area
Millenium Park
Trails
Events
Amphitheater
Connors Park
Concessions
Multi-Purpose Field
Washington Square Park
Botanical Gardens
Multi-Purpose Field
Addams (Jane) Memorial Park
Trails
Beach
Concessions
River Esplanade Park
Trails
River
Lake Shore Park
Tennis
Playground
Multi-Purpose Field
Goudy (William) Square Park
Playground
North Avenue Beach
Bike Trails
Lake
Beach
Seneca Park
Picnic Area
Playground
Multi-Purpose Field
Transit
Airport
Chicago Midway International
22 min drive
Bus
Michigan & Delaware
Bus
Michigan & Hubbard (Wrigley Bldg.)
Bus
Michigan & Pearson
Bus
Michigan & Superior
Bus
Michigan & Ohio
Bus
Michigan & Erie
Bus
Michigan & Illinois
Crime and Safety
1 - Low Crime, 10 - High Crime
Magnificent Mile
US
Homicide
3
4
Sexual Assault
4
4
Assault with Weapon
2
4
Robbery
5
4
Burglary
5
4
Motor Vehicle Theft
4
4
Larceny
8
4
Crime Score
5
4
Source: WhatIsMyCrimeRisk.com
Demographics and Home Trends
On average, homes in Magnificent Mile, Chicago sell after 62 days on the market compared to the national average of 47 days. The average sale price for homes in Magnificent Mile, Chicago over the last 12 months is $832,430, up 2% from the average home sale price over the previous 12 months.
Freshly painted window frames throughout Residence 1405. Added, elegant wainscoting to primary bedroom wall with contemporary accent color and wall sconces. Additional beaux living room sconces. A reputation that proceeds itself at the Bristol, Residence 1405, a true 3 bedroom and 2.1 bathroom residence offers a complete and cohesive 2024 renovation with nothing overlooked or salvaged. A
Wake up to gorgeous city views in this sun-kissed, 18th floor "D" tier unit in a world-class location! Being a corner unit, the "D" tier is the highly desirable due to its floor plan and eastern and southern exposure. The open floor plan seamlessly the kitchen, dining, and living area, making it perfect for entertaining. Beautiful floor-to-ceiling windows and a kitchen that features light oak
Explore the property in 3D! Click the 3D button to take a virtual tour and walk through every detail. Discover the pinnacle of luxury living at The Ritz-Carlton Residences in Chicago. This exceptional home seamlessly blends opulent hotel amenities with the comfort of a private residence, all supported by a dedicated staff committed to providing unparalleled service and convenience. Upon arrival,
Galley kitchen with white cabinets and stainless appliances. GAS ranges for cooking! Bldg features a business center, 24 hour fitness center, laundry, grocery and valet. Huge roof top sundeck. Cats and dogs welcome! (50lb limit please!) Valet pkg onsite: $240/mo.
Welcome to this stunning FULLY FURNISHED 2-bed, 2-bath condo located in the heart of the Gold Coast! This beautifully renovated high-floor unit offers unobstructed west-facing views, allowing you to enjoy breathtaking sunsets from the 31st floor. With 11 floor-to-ceiling windows flooding the space with natural light, this condo is a masterpiece. The spacious living area is freshly painted and
Spacious two bedroom two bath, 1400 sf, has been beautifully upgraded and is available FURNISHED ONLY. Superb location - shopping,public transportation, Oak Street beach, and more. Bamboo floors throughout the property. Both full bathrooms have: heated granite floors; granite counters; glass shower and tub doors. Main bathroom has tub/shower and 2nd bathroom has shower only with built-in bench.
Interested in learning more about homes in this area?
Reach out to
Larissa Brodsky,
an experienced agent in this neighborhood.
Average Home Value
Source: Public Records
Property Mix - Square Feet
This Neighborhood Has More Renters
Demographics
Total Population
2,643
Median Age
44
Population Density
62 ppl/acre
Population under 18
12.9%
Below the national average
23.8%
Population over 65
28.8%
Above the national average
19.1%
Finances
Median Household Income
$138,797
Significantly above the national average
$71,702
Average Household Income
$159,520
Education and Workforce
High School Graduates
100%
College Graduates
88.3%
Significantly above the national average
34.1%
Advanced Degrees
47.9%
Significantly above the national average
13.3%
% Population in Labor Force
73.8%
Weather
Annual Precipitation
34''
Average Winter Low Temperature
20°F
Average Summer High Temperature
84°F
Annual Snowfall
40''
Area Factors
Very Bikeable
Bike Score®
81/ 100
Walker's Paradise
Walk Score®
99/ 100
Rider's Paradise
Transit Score®
91/ 100
Source: Walk Score
Source: Walk Score
Sound Score® measures the noise level of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address.
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. Our sources include: Accuweather, Public Records and Neustar. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
