Waukegan Illinois Real Estate
First incorporated as a township in 1829, the northern suburb of Waukegan is one of the oldest communities in Lake County, Illinois. Located on the shores of Lake Michigan and eight miles from the Wisconsin border, it is now home to over 90,000 residents. A young city with about 30% of its residents under the age of 18, Waukegan is a great place for young families to settle down outside of Chicago.
As of 2005 there were 29,249 houses in Waukegan with 94.97% occupied and 53.84% owner occupied. The median house price was estimated at $162,000 and the median asking price for vacant homes on the market was $159,200. Also, the majority of the renter-occupied homes, nearly 9,000, are one or two bedroom houses while over 11,000 of the owner-occupied ones have two or three bedrooms. In addition, the architecture is an eclectic mix of many different styles and the reason behind this diversity is that many of the homes were built between 1950 and 1979.
Only 40 miles north of Chicago, residents of Waukegan are an easy drive away from all the pleasant amenities of the Windy City, but many do not need to leave the suburb’s borders to find everything they need. In recent years the economic and commercial developments in this lakeside northern suburb has lead to a steady influx of new businesses and jobs. Perhaps most impressive were the efforts to refurbish the Genesee Theatre, a large concert hall which was reopened in 2004 after fifteen years of being closed down. In addition, the city has received over $50 million in public and private donations for the Downtown and Lakefront Redevelopment Master Plan. With this money plus the $40 million the City itself invested in the plan, laborers have begun to clean up older building and build new ones to support the influx of fledgling businesses in the downtown area. Also, 100 acres of new lakefront property are now undergoing predevelopment plans.
The exciting growth activities are not the only reasons why families are beginning to move to Waukegan. Parents are also impressed by the quality of the education their children receive in Waukegan Community Unit District 60 school system. In short, affordable housing, consistent redevelopment, and strong schools make this northern Chicago suburb an ideal location for new homebuyers in the market.
