Tag Archives: Glencoe

Chicago Suburb Named Most Expensive Neighborhood in Illinois in New Ranking

A Chicago suburb was recently named the most expensive neighborhood in Illinois.

In a new list from lending website CashNetUSA, which ranked the most expensive neighborhoods in ever U.S. state, the northern suburb of Glencoe ranked at the top for Illinois.

The ranking looked at home prices from Zillow, then calculated the average house price in each neighborhood by dividing the total house prices by the number of houses.

Glencoe, located north of Chicago along Lake Michigan, ranked the highest for Illinois at just over $3 million. It has a population of 8,849, as of the 2020 Census.

That’s still far from the most expensive neighborhood in the country, however. It’s also under the average price of $5.2 million.

Still, Florida, Colorado, California and New York have each have eight-figure neighborhoods.

Manalapan, Florida, topped the list at just under $40 million.

When it comes to Chicago, the ranking dubbed the New East Side the most expensive in the city, beating out Sheffield, Streeterville, Near North and Lincoln Park.

The website said it analyzed 122 Chicago neighborhoods, six of which had an average home price over $1 million.

“Chicago is known as an affordable alternative ‘big city,’ and some of the pricier neighborhoods in our study get their big price tag courtesy of a minority of luxury homes (such as the Gold Coast) dragging up the average,” the ranking stated. “The bustling waterside community of River North offers an alternative at the cheaper end of expensive.”