Chicagoland Home Values to Rise in Andersonville, Lincoln Square and Ravenswood

Chicago is a walking city and especially when within commuting distance of transit, the location is ideal.   Chicagoland Home Values are expected to rise in Andersonville, Lincoln Square and Ravenswood neighhorhoods with the announcement of the planned Ravenswood Station transit oriented development.

According  to the National Association of Realtors, residents of communities with easy access to transit, needed stores and services and walkable streets spend an average just 12 percent of household income for transportation costs, versus 36 percent in areas where residents must drive long distances to reach key services.

I’ve spoken of the proposed development of the new transit oriented Ravenswood Station, and last week Alderman Schulter of the 47th Ward announced the plans at a meeting of local home owners from the Andersonville, Ravenswood and Lincoln Square neighborhoods.   The LEED certified project by Magellan Development and Lowenberg Architects will be similar in design  to Lakeshore East (part of Chicago’s Pedway), but  located at the northwest corner of Lawrence and Ravenswood.

The new development will include a three-story building with a much needed grocery store, gym, green roof and outdoor terrace.   Home owner requests for additional bike parking and green plants around the perimeter of the four-level parking structure received positive response from the alderman.   The parking structure will include parking for 180 Metra rail commuters and 400 shoppers.

Along with the soon to be relocated train stop and indoor auto and bike parking, there will be shops and a full service gym. The new development  will tie in nicely with the  streetscape  project already in progress by the 47th ward to improve walkability in the area, via installation of new sidewalks, lighting, trees and planters, benches and curbs on Lawrence from Western to Ashland Avenues.

Maggie Finegan, Move with Maggie Team

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