Lincoln Park Condominiums
Lincoln Park is well known throughout much of the country as one of the most desirable communities in Chicago in which to live. The area is known for shady, tree-lined streets and stretches of exciting entertainment and nightlife melding an ideal union of serenity and fun. Lincoln Park holds an old fashioned appeal reinforced by rows of brown and graystone walkups as well as newer Lincoln Park Condominiums offering a mix of conventional three and four story flats, single family townhomes and high rises that satisfies almost anyone’s taste.
Most of the neighborhood’s older graystones, brownstones, and brick walkups are rehabs. But don’t let that fool you. They are updated with the most modern of conveniences and state-of-the-art amenities essential to today’s busy lifestyle. There are still many private single-family residences, but many have been split up into separate two and three bedroom units. These vintage apartments or condos are very popular with the student population of DePaul University whose campus is located within the boundaries of Lincoln Park. Many parents have discovered that buying a condo is more cost effective when sending their children to college than paying room and board to the college or university. Kiddie Condos as they are called offer many advantages. FHA now has a program out for just this situation. It offers a low down payment, a lower owner-occupied interest rate since it is not an investment property and by a blood relative (son or daughter) being a co-signer can help them establish a solid credit rating. Another major advantage is you own the property so any increase in equity over the years can be realized when finally selling the condo. Lincoln Park Condominiums near the DePaul University campus is obviously one of the areas in which Kiddie Condos can be found.
As mentioned above Lincoln Park is one of the most popular communities in the Chicago area. The charm of the many brownstones and graystones are not the only buildings of architectural significance in the area. There are two churches, St Vincent DePaul and St Josaphat’s, one of the so-called Polish Cathedrals dotting the landscape of much of Chicago. These monumental edifices tower over much of the neighborhood lending it much of its charm.
Today Lincoln Park is primarily made up young urban professionals, recent college graduates and young families. The majority of Lincoln Park’s families are very wealthy, making Lincoln Park the overall second wealthiest neighborhood in Chicago, after the Gold Coast. Lincoln Park condominiums offers a modest alternative to many of the larger primary residences in which Lincoln Park is well known.
