Greektown median real estate price is $439,377, which is more expensive than 73.2% of the neighborhoods in Illinois and 57.8% of the neighborhoods in the U.S.
The average rental price in Greektown is currently $3,806, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 95.8% of the neighborhoods in Illinois.
Greektown is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
Greektown 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 renter occupied. Many of the residences in the Greektown neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.
Greektown has a 11.9% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 69.0% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Chicago, the Greektown neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
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 90.7% of the adults living in the Greektown neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 99.8% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
In addition, think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the Greektown neighborhood: a neighborhood in which more "urban sophisticates" live than 97.2% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for young, single professionals.
Also, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 52.3%. This is a higher percent living alone than we found in 96.7% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.
Real Estate
The Greektown neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 97.7% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
In addition, one of the really unique and interesting things about the look and setting of the Greektown neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 97.5% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 99.5% of all neighborhoods in America.
Furthermore, the Greektown neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 43,252 persons per square mile in the neighborhood, it is more packed with people than 98.1% of the nation's neighborhoods.
Modes of Transportation
More people in Greektown choose to walk to work each day (28.5%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Also, in the Greektown neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 29.9% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 96.9% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
Occupations
The Greektown neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 98.3% of the neighborhoods in America. In fact, 76.9% 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.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the Greektown neighborhood buck this trend. 33.6% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.5% of U.S. neighborhoods.
Diversity
Did you know that the Greektown neighborhood has more Greek and Belgian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.6% of this neighborhood's residents have Greek ancestry and 0.9% have Belgian ancestry.
Greektown is also pretty special linguistically. Significantly, 10.0% of its residents five years old and above primarily speak Langs. of India at home. While this may seem like a small percentage, it is higher than 99.2% of the neighborhoods in America.
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 Greektown 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 90.7% of the neighborhoods in America. In addition, 4.2% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 67.3% of America's neighborhoods.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
In the Greektown neighborhood, 76.9% 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 16.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (5.1%).
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 Greektown neighborhood is English, spoken by 65.4% of households. Other important languages spoken here include Langs. of India, Chinese and Spanish.
Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the Greektown neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Asian (31.1%). There are also a number of people of German ancestry (13.3%), and residents who report Irish roots (10.2%), and some of the residents are also of Mexican ancestry (7.6%), along with some Italian ancestry residents (6.1%), among others. In addition, 26.9% 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 Greektown neighborhood spend between 15 and 30 minutes commuting one-way to work (40.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (28.5%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (22.2%) and 9.4% of residents also ride the bus for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
