All About the History of the Gold Coast
Strolling along the streets of Gold Coast Chicago, the rich history is clearly present. From the historic walk-ups to notorious landmarks, this neighborhood provides residents with a unique connection to the past.
Gold Coast’s Roots
The Gold Coast neighborhood was originally known as the Astor Street District, after John Jacob Astor, and kept that name throughout the 1800s.
Interestingly enough, John Jacob Astor never actually resided in Chicago, but his achievement as one of the wealthiest men in the United States at the time earned him recognition and an entire neighborhood named after him.
This name helped to attract other wealthy families and individuals to the area. Among these wealthy people was Potter Palmer, who also played an instrumental role in the development of the Gold Coast.
After the Chicago Fire in the late 1800s, Potter purchased a large amount of land and eventually converted the swampy land into a strip of desirable property along the Lake, now known as Lake Shore Drive.
Palmer also gained attention when he built and resided in “The Palmer Mansion”, the largest home in Chicago at the time. Other influential and wealthy people quickly began moving to the area, triggering a huge growth during the late 19th century.
Gold Coast Historic District
The Gold Coast District was added to the National Register of Historic Places in 1978 in order to highlight and preserve the area’s history.
This historic district is located in the Near North Side of Chicago, roughly bounded by North Avenue, Lake Shore Drive, Oak Street, and Lake Street.
The Gold Coast Historic District gained an early reputation of affluence and luxury.
The neighborhood has a history of housing some of the city’s most influential and affluent people, including J.B. Pritzker, Vince Vaughn, and Lori Greiner.
Gold Coast Now
To this day, the Gold Coast neighborhood maintains its prestige, ranking as one of the most expensive areas of Chicago, as well as the 7th richest urban areas in America with a median household income of $153,358.
This affluent and vibrant area boasts high-end shopping and an endless amount of restaurants and bars. The Gold Coast also provides easy access to Michigan Avenue, one of the most famous shopping districts in the country.
If you are in the market for a new property, Gold Coast is a great option, booming with premier real estate. Whether you are looking for a historic property complete with incredible renovations or a luxury high rise boasting draw-dropping views and amenities, you can easily find your dream home in this vibrant neighborhood.The history of the Gold Coast, coupled with this neighborhood’s unbeatable energy and activities, makes this area the perfect spot to call home. Contact an experienced broker today and find your dream home!
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