Millenium Park median real estate price is $827,783, which is more expensive than 95.6% of the neighborhoods in Illinois and 85.6% of the neighborhoods in the U.S.
The average rental price in Millenium Park is currently $4,884, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 99.1% of the neighborhoods in Illinois.
Millenium Park is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
Millenium Park real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Millenium Park neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
Real estate vacancies in Millenium Park are 4.1%, which is lower than one will find in 72.8% of American neighborhoods. Demand for real estate in Millenium Park is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the Millenium Park neighborhood buck this trend. 80.6% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.9% of U.S. neighborhoods.
People
Do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 90.2% of the adults living in the Millenium Park neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 99.7% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
In addition, a unique characteristic about the people in the Millenium Park neighborhood is that a majority of them are young, single professionals. In fact, there are more young, single professionals in this one community than 97.6% of neighborhoods in the U.S. Here you'll find an active nightlife nearby with lots of opportunities to flirt and find romance. In addition to being an excellent choice for young, single professionals, this neighborhood is also a very good choice for urban sophisticates.
Also, wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Millenium Park neighborhood is wealthier than 95.5% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood.
Real Estate
The real estate in the Millenium Park neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 96.9% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.4% of American neighborhoods.
In addition, if you like crowded places, then you will probably enjoy the the Millenium Park neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.5% of neighborhoods in the U.S., with 27,667 people per square mile living here.
Modes of Transportation
In the Millenium Park neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 29.8% of residents here. This is a higher proportion of walking commuters than we found in 99.1% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 40.8% of the Millenium Park neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.9% of America's neighborhoods.
Occupations
The Millenium Park neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 98.1% of the neighborhoods in America. In fact, 76.0% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Diversity
Did you know that the Millenium Park neighborhood has more Croatian and Austrian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.1% of this neighborhood's residents have Croatian ancestry and 2.5% have Austrian ancestry.
Millenium Park is also pretty special linguistically. Significantly, 1.9% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 98.4% of the neighborhoods in America.
Migration / Stability
The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the Millenium Park neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.5% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the Millenium Park neighborhood in Chicago are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 95.5% of the neighborhoods in America. With 14.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 59.4% of U.S. neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Millenium Park neighborhood, 76.0% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 15.8% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (5.7%), and 4.6% in clerical, assistant, and tech support occupations.
Languages
The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Millenium Park neighborhood is English, spoken by 63.7% of households. Other important languages spoken here include Chinese, Langs. of India, Spanish and German/Yiddish.
Ethnicity / Ancestry
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the Millenium Park neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Asian (25.6%). There are also a number of people of German ancestry (18.3%), and residents who report Mexican roots (10.4%), and some of the residents are also of Irish ancestry (9.4%), along with some Italian ancestry residents (7.8%), among others. In addition, 35.5% of the residents of this neighborhood were born in another country.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Millenium Park neighborhood spend between 15 and 30 minutes commuting one-way to work (49.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (40.8%) take the train to get to work. In addition, quite a number also hop out the door and walk to work to get to work (29.8%) and 12.4% of residents also drive alone in a private automobile for their daily commute. This neighborhood is distinguished by the high number of residents who take the train to work each day, which can be a very good way to get to work at a lower cost and with less pollution.
