History of The Gold Coast
Before 1885, The Gold Coast homes for sale were not popular; that is, until wealthy merchant Potter Palmer built an elaborate castle on Lake Shore Drive near Division Street. Soon afterward, many other well-heeled Chicagoans decided to migrate to this new wealthy community.
Originally the area was called The Astor District, named after John Jacob Aster who was one of the richest people in the country. The neighborhood expanded and offered some of the most exclusive homes and condominiums in Chicago. Though Astor did not live in Chicago, just the use of his name gave the neighborhood the status of wealth and prosperity which still remains today.
The Streeterville neighborhood, which lies east of Michigan Avenue, is bordered by the lake on both the north and on the east. Interestingly, most don’t know that all this expensive real estate was once at the bottom of Lake Michigan! But how did Streeterville get it's name?
In the late 1880s, George 'Cap' Streeter's boat hit a sandbar just off the shoreline. George and his wife decided to remain on their boat and made it their new home and encouraged dumping in this area. So, after several years, the debris built up, filled in, and became solid land. Then George claimed this "new land" as an independent territory because an 1821 government survey had declared that Chicago and Illinois property lines terminated at the shoreline. As a Civil War Veteran, Streeter used his homesteading rights and declared the new land to be the District of Lake Michigan. However, as would be expected, the powers that be eventually got around to taking this land by force, and it is now some of the most expensive real estate in Chicago.
Gold Coast Homes for Sale
The Gold Coast Historic District is now listed on the National Register of Historic Places. Its stately homes, especially along historic Astor Street, evoke a sense of rich history. Each stone mansion gives the impression of prosperity and wealth. A stroll through the neighborhood will give you an up-close glimpse of some of the city’s oldest and most unique architecture. The most expensive single-family residences here sell for over $10,000,000.
Many who live on the Gold Coast and in Streeterville often walk to work, if the weather permits, of course. The area is also well served by several CTA bus lines. The Chicago Loop is less than a mile away; and in addition, for a leisurely drive, you can travel picturesque Lake Shore Drive.
Things To Do in The Gold Coast
Are you ready to shop 'til you drop? The world-famous Magnificent Mile runs north on Michigan Avenue between the Chicago River and Oak Street. Along this street you will find a blend of some of the world’s most exclusive stores (including Macy’s, Nordstrom, Nieman-Marcus, and Bloomingdales), chic restaurants, office buildings and hotels. The historic Michigan Avenue Bridge, and the neo-gothic Tribune Tower are among the architectural treasures which you will find at the south end of this incredible strip.
Chicago’s trademark Water Tower is one of the few structures which survived the Great Chicago Fire of 1871. The Water Tower Place shopping mall, the distinctive John Hancock Center, the opulent Drake Hotel, and the fabulous art-deco Palmolive Buliding (formerly the Playboy Building) anchor the north end of the "Magnificent Mile Strip". Oak Street Beach, which is at the end of North Michigan Avenue, is popular among the locals and visitors alike for its incredible view. You can relax on the sand or jog along Lake Michigan against the backdrop of some of the world’s most original and unique high-rise buildings.
If you're looking for outstanding homes in a historic, yet active neighborhood, Gold Coast homes for sale might be just what you're looking for!
Locate this neighborhood on our Chicago Neighborhood Map!