Why Live in Margate Park
Margate Park in Chicago features a mix of high-rise condos along Marine Drive and historic single-family homes in the Castlewood Terrace Historic District, showcasing Tudor Revival, Queen Anne, and early Prairie architectural styles. The neighborhood is predominantly made up of apartments and condos, with a significant portion of residents being renters. Margate Park offers ample green spaces, including Foster Beach and Montrose Beach, which provide access to the lake, bike trails, and dog-friendly areas like the Margate Park Puptown Dog Park and Montrose Dog Beach. The Margate Park fieldhouse includes a gym and fitness center, while the Bill Hersh Playground and Buttercup Playlot Park cater to children with various play structures and a splash pad.
The neighborhood is known for its vibrant dining scene, especially in the Asia on Argyle area, where Vietnamese restaurants like Nha Hang, Pho 777, and Pho 888 are popular. Other dining options include Kie-Gol-Lanee for Oaxacan cuisine and Tweet for organic brunches. Grocery shopping is convenient with Mariano's, Jewel-Osco, and Tai Nam Food Market nearby. Margate Park is also close to historic theaters and music venues like the Aragon, Riviera, and the Green Mill jazz club.
Transportation is accessible with the Argyle and Wilson Red Line L stations, numerous bus routes, and Divvy bike rentals. For drivers, U.S. Route 41 provides routes to the west and south, and O’Hare International Airport is 13 miles away. Healthcare facilities like Weiss Memorial Hospital are within a mile. The neighborhood is served by Senn High School and Lycee Francais de Chicago, both highly rated schools.
Frequently Asked Questions
Is Margate Park a good place to live?
Margate Park is a good place to live. Margate Park is considered somewhat walkable and a biker's paradise with great transit options. Margate Park is an urban core neighborhood. Margate Park has 14 parks for recreational activities. It is very dense in population with 44.6 people per acre and a median age of 46. The average household income is $73,479 which is below the national average. College graduates make up 51.2% of residents. A majority of residents in Margate Park are renters, with 65.9% of residents renting and 34.1% of residents owning their home. A
local real estate agent serving Margate Park can help you decide if this neighborhood is the right one for you. Learn more on our
Margate Park neighborhood guide.
Is Margate Park, IL a safe neighborhood?
Margate Park, IL is less safe than the average neighborhood in the United States. It received a crime score of 5 out of 10.
How much do you need to make to afford a house in Margate Park?
The median home price in Margate Park is $580,000. If you put a 20% down payment of $116,000 and had a 30-year fixed mortgage with an interest rate of 6.74%, your estimated principal and interest payment would be $3,010 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $129K a year to afford the median home price in Margate Park. The average household income in Margate Park is $73K.
What are the best public schools in Margate Park?
The best public schools that serve Margate Park are:
What are the best private schools in Margate Park?
The best private schools that serve Margate Park are:
What are the most popular zip codes in Margate Park, Chicago, IL?
What are the most popular neighborhoods near Margate Park, Chicago, IL?
Are home prices dropping in Margate Park?
Yes, home prices in Margate Park are down 27% in the last 12 months.
Home Trends in Margate Park, IL
On average, homes in Margate Park, Chicago sell after 1 days on the market compared to the national average of 70 days. The median sale price for homes in Margate Park, Chicago over the last 12 months is $294,500, down 27% from the median home sale price over the previous 12 months.
Median Sale Price
$294,500
Median Single Family Sale Price
$550,000
Average Price Per Sq Ft
$345
Number of Homes for Sale
1
Last 12 months Home Sales
8
Median List Price
$580,000
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
-27%