Why Live in Magnificent Mile
Magnificent Mile, a neighborhood in Chicago, is renowned for its architectural landmarks such as the Wrigley Building, Tribune Tower, and Palmolive Building. This area, also known as Mag Mile, has evolved into a luxurious commercial district with upscale restaurants, retailers, and high-rise condos. Residents enjoy the convenience of city living with numerous things to do, including shopping at stores like ZARA and Saks Fifth Avenue, and dining at local favorites such as Pierrot Gourmet and Gino’s East. High-rise condos dominate the housing market, featuring panoramic views of the Chicago skyline and amenities like spas, community pools, and fitness centers. Seasonal attractions include The Christkindlmarket and the SOAR Farmers Market at the Museum of Contemporary Art plaza. Recreational activities are abundant, with the Museum of Ice Cream and Ohio Street Beach nearby. The neighborhood is well-connected with two Red Line stops on North State Street, and Chicago O’Hare International Airport is a 17-mile drive away. For healthcare, John H. Stroger Jr. Hospital is 5 miles away, and the University of Illinois Chicago campus is 3 miles away. Highly rated private schools, Frances Xavier Warde School and The Latin School of Chicago, serve the area.
Home Trends in Magnificent Mile, IL
On average, homes in Magnificent Mile, Chicago sell after 18 days on the market compared to the national average of 70 days. The median sale price for homes in Magnificent Mile, Chicago over the last 12 months is $1,700,000.
Median Sale Price
$1,700,000
Median 1 Bedroom Sale Price
$225,000
Average Price Per Sq Ft
$417
Number of Homes for Sale
1
Last 12 months Home Sales
500
Median List Price
$1,775,000
Median Change From 1st List Price
4%