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River North Real Estate

Once a neighborhood of old factories and warehouses, the River North neighborhood sits north of the Chicago River, and has blossomed in recent years into an area of art galleries, trendy restaurants, hotels, and dance clubs. River North is home to the massive four million-square foot Merchandise Mart building, once owned by the Kennedy family, and on a typical weekend, the area is bustling with tourists and Chicago-area residents as well. The area is bounded by Chicago Avenue, and Huron, Orleans and Wells Streets.

The number of art galleries in the River North neighborhood ranks second only to Manhattan's Soho area. More than 65 galleries feature a wide assortment of works including contemporary and ethnic art, sculpture and prints, photography, ceramics and furniture, and a sampling of European paintings. On the first Friday of each month, area galleries feature evening receptions that draw large numbers of art lovers.

The area also contains various top-notch spas and health clubs including the popular East Bank Club on North Kingbury Street and the Lakeshore Athletic Club on North Wabash Avenue. If you want to bowl a few games, you can check out the scene at the bowling alley adjacent to the House of Blues Hotel that's located in the Marina City complex on the Chicago River.

Along Ontario Street, between Dearborn and Wells Streets, sits the hub of River North nightlife, which draws hordes of tourists and Chicago-area residents to the area, to such popular dining spots as the Hard Rock Cafe, the Rainforest Café, Gino's East Pizzeria, Ed Debevic's diner, and the newly-built, two-story, 20,000-square-foot McDonald's restaurant with its 60-foot "golden arches." The contemporary McDonald's restaurant sits replaces the hugely popular "Rock'n Roll" McDonald's restaurant that originally stood in its spot.

In terms of housing, the average price of a two-bedroom condominium is $440,304; the average price of a townhome is $$469,100, and the average cost of a single-family home is $506,000 (2003).

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