Walking along Lake Michigan, you will encounter a point in the Gold Coast area where the building exteriors and lobby atmospheres suddenly change. Chicago is a large city, so the price spectrum varies widely among neighborhoods, making it one of the most diverse in the U.S.

The Gold Coast is considered the oldest and most established affluent neighborhood in Chicago. Developed as a mansion district for the upper class since the late 19th century, it is still densely populated with large condos and townhouses. The median home price is known to exceed $1 million.

Lincoln Park, thanks to its pleasant environment with parks and a zoo, as well as excellent private schools, attracts young affluent individuals and professional families. The median price is estimated to be in the range of $900,000 to $1.2 million.

Outside of Chicago city limits, suburban towns like Kenilworth and Winnetka in the North Shore are also mentioned as some of the most expensive residential areas in the entire Chicago region. Kenilworth, in particular, is consistently noted as one of the municipalities with the highest median income in the U.S., often with median home prices exceeding $2 million.

The reasons these areas have established themselves as affluent neighborhoods include lake views, long-established private schools, excellent public school districts, and accessibility to the downtown loop. The Gold Coast is known for its walkable lifestyle, while the North Shore suburbs are highlighted for their spacious lots and school districts.

The overall median home price in Chicago is reported to be around $350,000, creating a gap of nearly three times compared to the Gold Coast or Lincoln Park, and the gap widens even more when compared to North Shore suburbs like Kenilworth.

The Chicago area is one of the regions in the Midwest with the largest Korean population, and among affluent or professional Korean families, areas with good school districts like Lincoln Park, Northbrook, and Glenview have consistently been preferred. For those who prioritize access to the city center, choosing condos in the Gold Coast or Streeterville is also common.

From an investment perspective, the downtown condo market in Chicago has shown relatively stable trends in recent years, so it is generally advised to check both management fees and property tax burdens before making a purchase, according to industry views.