Suburb Spotlight: Park Ridge Real Estate
Welcome to the first installment of our Suburb Spotlight series! Over the next few months we’ll dive in to some of Chicago’s most popular suburbs, starting with Park Ridge. Located just outside of Chicago’s northwest border, Park Ridge weaves together the charm of small-town living with the convenience of city amenities. Whether you’re entranced by its bustling uptown district, its tree-lined neighborhoods, or its highly-rated schools, this city has something for everyone — making Park Ridge real estate an attractive investment.
What We’ll Cover
Discover the charm of Park Ridge real estate with diverse housing options, high homeownership rate and investment potential.
Enjoy suburban living near the hustle and bustle of Chicago with neighborhoods that appeal to all lifestyles.
Look forward to a positive future for Park Ridge real estate including population growth, rising prices & exciting new developments.
Exploring Park Ridge IL Real Estate
Welcome sign in uptown Park Ridge, Illinois
Dubbed as one of the best suburbs in the Chicago area, Park Ridge, Illinois is a city that offers a unique blend of charm and convenience. This Chicago suburb, nestled in Cook County and just a stone’s throw from downtown Chicago, is home to a thriving population of 39,656 residents. Its rich history, marked by the Potawatomie who inhabited the area until 1833 and George Penny’s establishment of a brickworks in 1854, adds to its allure.
With a diverse housing market ranging from cozy townhouses to luxurious new constructions and timeless historic Victorians, Park Ridge is a place where everyone can find a place to call home. The city’s homeownership rate stands at an impressive 85%, with the majority of residents owning their own property. The median income for a household in Park Ridge — which is higher than many other communities in the Chicago suburbs — is $113,809. The population density in Park Ridge contributes to its mix of housing options.
The Housing Landscape
The charm of Park Ridge is partly due to its diverse housing options. The city provides an array of housing options, including:
Single-family homes
Townhouses
Condominiums
Apartments
Senior living communities
Assisted living facilities
Whether you’re looking for a cozy townhouse priced at an average of $375,000 or a luxurious new construction, Park Ridge’s housing market has something for everyone.
Adding to the city’s architectural allure are the historic Victorian houses, scattered throughout various neighborhoods. These timeless beauties, alongside the city’s new construction projects, make the housing landscape in Park Ridge both diverse and attractive.
Investment Potential
With a robust market and growing demand, Park Ridge is an attractive investment destination. The current real estate market in Park Ridge shows a promising increase in the number of homes for sale. This surge in available properties makes it an ideal time for potential investors to explore their options.
The property value in Park Ridge has been steadily increasing over the years, reflecting the city’s growth and development. This positive trend — coupled with the city’s status as a thriving suburb — drives the demand for property in Park Ridge. Despite a modest yearly average return on investment in Park Ridge real estate, the potential for future growth makes it a sound investment choice.
Navigating Property Purchases
Sorting through the real estate market in Park Ridge is an exciting journey, which typically involves:
Consultation with a realtor
Searching for the perfect home
Financing options
Making an offer
Home inspection
It’s essential to work with a licensed real estate professional who is knowledgeable about local regulations to ensure an efficient and successful real estate experience.
Whether you’re looking for a single-family home, a townhouse, or a condominium, Park Ridge has an array of options to choose from. With the city’s diverse housing market and robust trends, you’re sure to find a property that suits your preferences and investment goals.
A Community Close to the Heart of Chicago
Bustling intersection in uptown Park Ridge
One of the standout features of Park Ridge is its close proximity to the heart of Chicago. Located just 15 miles northwest of downtown Chicago, Park Ridge offers the best of both worlds — the tranquility of suburban living and the vibrancy of city life. This proximity to Chicago, coupled with the city’s low crime rate, makes it a safe and convenient place to live.
Commuting from Park Ridge to Chicago is a breeze thanks to the Metra rail system with two stations in Park Ridge, the downtown Park Ridge stop and Dee Road. The city is also a mere 20 minutes away from O’hare airport, making it an ideal location for frequent travelers.
The Appeal of Park Ridge Neighborhoods
Aerial view of uptown Park Ridge
Park Ridge is home to a variety of neighborhoods, each with its own appeal. Whether you’re drawn to the vibrant atmosphere of Uptown, the serene ambience of South Park Ridge, or the convenience of living near Dee Road, Park Ridge has a neighborhood to suit your lifestyle. Each of these neighborhoods present a blend of amenities, architectural styles, and community vibes, contributing to the city’s overall charm.
Uptown Park Ridge — renowned for its delightful streets filled with extraordinary boutiques and shops — is a bustling hub of activity. On the other hand, South Park Ridge boasts exclusive communities with lush tree-lined lots and tranquil ponds, offering a serene living environment. Living near Dee Road comes with its own set of conveniences, including easy access to transportation and amenities.
Uptown: The Vibrant Corner of Park Ridge
Uptown Park Ridge is a vibrant corner of the city where residents can enjoy a lively scene filled with extraordinary boutiques and shops. This three-square block area — situated at the crossroads of Touhy Avenue, Northwest Highway, and Prospect — is a hub of activity and excitement.
From the Italian Villa to the Holt’s and Hay Caramba, Uptown Park Ridge offers an incredible variety of restaurants, catering to diverse culinary preferences. Not to mention the exciting entertainment options like the Pickwick Theatre and Prospect Park, ensuring there’s always something fun to do in Uptown.
The Serenity of South Park Ridge
South Park Ridge features a calm living environment, making it an attractive neighborhood for those seeking peaceful suburban living. This neighborhood is known for:
An exclusive community with lush tree-lined lots and a picturesque pond
Small-town feel
Highly-rated schools
A strong sense of camaraderie and a friendly, close-knit atmosphere
South Park Ridge also offers an array of recreational activities. From exploring the Pickwick Theatre to hiking along the Des Plaines River Trail, there’s plenty to do in South Park Ridge. The neighborhood’s remarkable parks and green spaces further enhance its serene ambiance.
The Convenience of Living Near Dee Road
Living near Dee Road in Park Ridge brings numerous advantages. The area is home to a luxurious boutique building called Vista Del Lago, which includes stunning views and resort-style amenities. The area is also located just a short drive away from O’Hare, the CTA Blue Line, and Metra, making commuting easy.
On top of its easy access to public transit, the area near Dee Road is also home to a variety of shopping centers and grocery stores, such as Jewel-Osco, Whole Foods Market, and Trader Joe’s, providing residents with their daily necessities. For healthcare needs, Advocate Lutheran General Hospital is located just a short distance away.
Education and Family Life in Park Ridge
Maine East high school in Park Ridge, Illinois
Park Ridge is not just a great place to live — it’s also a great place to learn. The city is home to some of the best schools in the Chicago suburbs, providing students with exceptional educational opportunities. From Maine East to Maine South, the city’s high schools are renowned for their commitment to academic excellence.
But Park Ridge isn’t just about academics. The city also includes a variety of parks and recreational facilities for residents of all ages to enjoy. Whether you’re a family with young children or a retired couple looking for a peaceful place to enjoy your golden years, Park Ridge has something to offer everyone.
Schools That Shape Futures
The schools in Park Ridge are more than just educational institutions — they’re places where futures are shaped. From elementary to high school, the city’s schools are well-renowned. In fact, the student to teacher ratio in Park Ridge schools is an impressive 15 to 1, ensuring that every child gets the attention they need to thrive.
The high schools in Park Ridge — Maine East and Maine South — are particularly known for their academic programs. With a total enrollment of well over 4,000 students, these schools are a testament to the city’s quality education.
Parks and Recreation for All Ages
Outdoor enthusiasts will find plenty to love about Park Ridge. The city is home to several parks, including Centennial Park and Prospect Park, which boast a number of recreational facilities. From fitness centers to dog parks, there’s something for everyone in Park Ridge.
The city also hosts a variety of special events and community programs throughout the year, catering to residents of all ages. Whether you’re looking to join a fitness class, take part in a community event, or simply enjoy a leisurely stroll in one of the city’s beautiful parks, Park Ridge has a wealth of recreational activities.
Park Ridge Real Estate Compared to Other Suburbs
When it comes to real estate, Park Ridge stands out among other Chicago suburbs. With its small-town charm and city amenities, Park Ridge presents a living experience that’s hard to match. The average house price in Park Ridge is an impressive $427k, which is competitive with other Chicago suburbs.
But it’s not just about the numbers. Park Ridge brings benefits that other suburbs can’t match. From its robust property values to its outstanding schools and close proximity to Chicago, Park Ridge offers a wealth of advantages for prospective home buyers.
Why Choose Park Ridge Over Other Suburbs?
What makes Park Ridge stand out among other suburbs?
City convenience and suburban tranquility
Two vibrant downtown districts
Excellent public schools
A wide array of housing options
A variety of pet-friendly amenities, including dog parks and pet stores
All of these factors contribute to Park Ridge’s appeal for residents, making it a great place to live.
Furthermore, Park Ridge is known for a high quality of life. Ranked highly in terms of affordability, education, and safety, Park Ridge is considered one of the top small cities in the northwest suburbs. Despite the relatively high cost of living, the city’s many advantages make it one of the most desirable places to live.
Proximity to Universities and Employment Hubs
Another major plus of living in Park Ridge is its proximity to major universities and employment hubs. Just 15 miles away from the University of Chicago and Northwestern University, Park Ridge is ideally located for students and faculty members alike.
Moreover, Park Ridge is located only a short drive from downtown Chicago, the city’s major employment hub. This proximity, coupled with the city’s excellent transportation options, makes Park Ridge an attractive option for professionals looking for a balance between work and home life.
Architectural Gems and Historic Sites
The iconic Pickwick Theatre in Park Ridge, Illinois
Adding to its charm, Park Ridge is home to a variety of architectural gems and historic sites. From the Iannelli Studios Heritage Center (a vibrant nonprofit museum that celebrates local art) to the Pickwick Theatre (a historic Art Deco movie theater) the city is rich in cultural and architectural landmarks.
Park Ridge real estate also showcases a variety of architectural styles, including:
Spanish
Victorian
Colonial
Modern residences
The city’s diverse architectural landscape within its square mile, combined with its historic sites, adds to its appeal.
The Future of Park Ridge Real Estate
Looking ahead, the future of Park Ridge real estate is promising. With some planned developments and projected market trends on the horizon, the city is set to continue its growth and development. Furthermore, the city’s population growth is likely to bring about increased demand for housing, which could result in rising real estate prices in the future. This trend, coupled with the city’s unique advantages and robust market, suggests a bright future for Park Ridge real estate.
Recap
With its combination of suburban tranquility and city convenience, top-notch schools, diverse neighborhoods, and strong real estate market, Park Ridge offers an unmatched living experience. Whether you’re a home buyer, an investor, or simply someone looking for a great place to live, Park Ridge is worth considering.
Keep an eye out for our next post in the Suburb Spotlight series! From Park Ridge to Vernon Hills, we’re covering some of Chicagoland’s most desirable suburbs.
Frequently Asked Questions
Is Park Ridge, Illinois a good neighborhood?
Park Ridge is a safe, family friendly neighborhood with great schools, friendly neighbors, as well as plenty of shops and restaurants — making it an excellent place to live.
Is Park Ridge a wealthy suburb?
Park Ridge is an affluent suburb of Chicago, located just 15 miles northwest of downtown Chicago.
Is Park Ridge walkable?
Park Ridge is an ideal destination for pedestrians, with its well-connected grid of sidewalks making most errands accessible on foot. Walking in the area is peaceful and enjoyable.
What is Park Ridge Illinois known for?
Park Ridge is known for its beautiful ridge terrain — being the highest point in Cook County — and its cultural landmarks like the Art Deco Pickwick Theatre. It was also the hometown of first lady and U.S. Senator Hillary Clinton.
What kinds of housing options are available in Park Ridge?
Park Ridge offers a diverse array of housing options, including single-family homes, townhouses, condominiums, apartments, senior living communities, and assisted living facilities, providing something for everyone.