Why Live in Lake Meadows
Lake Meadows in Chicago's South Side has undergone significant redevelopment since the 1940s, transforming from deteriorating housing projects into a vibrant community. The neighborhood features a mix of renovated condominiums, townhouses, and single-family homes, with contemporary and Queen Anne architectural styles. The area is predominantly rental, with high-rise apartments and midcentury condominiums. Lake Meadows Park, an 8-acre green space, offers basketball courts, playgrounds, and walking paths, while the nearby 33rd Street tennis courts host the historic Chicago Prairie Tennis Club. The neighborhood's biggest draw is its proximity to Burnham Park and the scenic Lakefront Trail, which leads to 31st Street Beach and continues 3 miles north to The Loop.
Despite limited dining and shopping options within walking distance, residents frequent the Lake Meadows Shopping Center and local eateries like Bronzeville Hoagie & Panini and Chicago’s Home of Chicken & Waffles. The neighborhood is well-connected by Chicago Transit Authority (CTA) bus stops and the Metra, facilitating easy commutes to downtown Chicago. Educational institutions include John J. Pershing Elementary Humanities Magnet School and Wendell Phillips Academy High School, both part of Chicago Public Schools. The Illinois Institute of Technology is also nearby, enhancing the area's educational landscape.
Lake Meadows is safer than the national average, contributing to its appeal for families and professionals. The upcoming Bronzeville Health Center will further enhance local healthcare options. With its blend of green spaces, convenient transit options, and proximity to cultural hubs, Lake Meadows offers a balanced urban living experience.
Home Trends in Lake Meadows, IL
On average, homes in Lake Meadows, Chicago sell after 26 days on the market compared to the national average of 51 days. The median sale price for homes in Lake Meadows, Chicago over the last 12 months is $171,540, up 39% from the median home sale price over the previous 12 months.
Median Sale Price
$171,540
Median Single Family Sale Price
$641,000
Median Townhouse Sale Price
$425,000
Median 2 Bedroom Sale Price
$176,770
Median 1 Bedroom Sale Price
$110,000
Average Price Per Sq Ft
$156
Number of Homes for Sale
5
Last 12 months Home Sales
7
Median List Price
$190,500
Median Change From 1st List Price
9%
Median Home Sale Price YoY Change
39%