The Chicago 77 is dedicated to writing about the Chicago real estate market from all possible angles. The Chicago 77 is written by the professionals who know the market best: real estate agents and brokers, developers, appraisers, bankers and mortgage brokers, inspectors, insurance agents, lawyers, and economists. We aim to slice and dice the real estate market in every way possible. You will find everything from information on market time for single family homes in Beverly to why lock boxes aren’t generally used in the city to the latest news on the latest high rise condo going up in The Loop.
What’s with the name?
Our name comes from the 77 official community areas that make up the City with Big Shoulders. This is the area that The Chicago 77 will write about.
Anyone who has been to Chicago for even a short time quickly realizes this is truly a city of vibrant and excitingly diverse neighborhoods. Depending on your source, there are anywhere from 202 to 227 neighborhoods in the city.
Community areas differ from neighborhoods in that community areas are very well defined and stable. There is no controversy over the number?there are 77 community areas in Chicago. Their borders are fixed and do not overlap. MRED (the multiple listing service that covers much of northern Illinois, including Chicago) uses the community areas rather than neighborhoods in their “neighborhood search” because the community areas are well defined and distinct.
An easy example is Chicago’s well known Lincoln Park community area. Inside Lincoln Park there are seven well recognized neighborhoods: DePaul, Old Town Triangle, Park West, Lincoln Park, Ranch Triangle, Sheffield Neighbors, and Wrightwood Neighbors. Even though any real estate agent working in Lincoln Park knows these neighborhoods, these same agents would likely argue over if they are all really neighborhoods and what the boundaries of the neighborhood are.