River North is a neighborhood in
Chicago bounded by the Chicago River, Chicago Avenue, and Michigan Avenue. Because of its dense population, this neighborhood is considered urban. Real estate prices in this neighborhood are relatively high in River North.
Reputation
River North was originally named Smokey Hollow, because of the many factories in the area. However, the name was changed in 1974 when much of the property in the area was purchased and restored by a real estate developer. River North is known for its residents' high level of education, diversity, and active nightlife. This neighborhood is the perfect location for young, single professionals. However, this neighborhood is also home to many families with children.
Hot Spots
Within the neighborhood of River North, you will find the River North Gallery District. This part of the neighborhood is home to one of the highest concentrations of art galleries in the United States, You will also find plenty of dance clubs, bars, lounges, and entertainment venues in River North.
River North offers many popular restaurants and shops to keep its residents entertained. For religious or spiritual residents, the cathedral district provides several different cathedrals and churches.
Safety
The crime rate in River North is slightly above average when compared to the average for all neighborhoods across the country. However, it is still lower than the average for other neighborhoods in Chicago.
River North experiences 13 violent crimes and 78 property crimes each year. This amounts to 4.19 violent crimes per 1,000 residents and 25.15 property crimes per 1,000 residents. The rate of violent crime in this neighborhood is considerably lower than the average rate for this city as a whole, which is nine per 1,000 residents. However, it is higher than the national average, which is only 3.8 per 1,000 residents.
River North's property crime rate is also lower than the average for the entire city of Chicago, which is 35.71 per 1,000 residents. It is slightly lower than the national average property crime rate, which is 27.3 per 1,000 residents.
Convenience
Because of the structure of River North, many residents choose to walk from one place to another. In fact, over 40 percent of River North's residents walk to work. This neighborhood is also served by four train stations that take residents to other locations in the city. In spite of these options, some people still own private vehicles in River North.
Types of Homes
Most of the real estate is River North Chicago comes in the form of
apartments. You will also find a few townhomes in this area. Most of the real estate in River North was built after 1970, and more than half of all real estate in this neighborhood was constructed after the year 2000. The average real estate value in River North is $366,067, which is higher than more than 80 percent of all neighborhoods in the country.
