Chicago at a Glance: Beverly
Beverly is located in a quiet corner of southwest Chicago that feels more like a suburb than one of the 77 official neighborhoods of the city. The first time visitor to the neighborhood may be surprised to find hilly tree-lined roads with beautiful homes just minutes from the heart of the city.
Beverly was originally a suburb of Chicago, but was annexed by the city. The neighborhood became home for many Irish immigrants who came looking for the affordable housing that was built in the area. The Irish community continues to thrive in Beverly.
Today Beverly is an upscale neighborhood. It is the safest neighborhood in all of Chicago and offers an excellent lifestyle
Amenities and Attractions in Beverly
Beverly's Irish population gives the neighborhood a distinctive flair with the many Irish pubs and the popular St. Patrick's Day parade. There is even a castle built from stone brought from the old country.
The South Side Irish parade is held every year on the weekend before St. Patrick's day. After the parade, residents and tourists can enjoy a pint in one of the many different Irish pubs. The Cork and Kerry is an historic pub located on S. Western Avenue.
The Chicago Irish Film Festival celebrates the best Irish filmmakers. The event in is held in March each year at the Beverly Arts Center.
Residents also can enjoy the Dan Ryan Woods. There are many hiking trails and picnic areas in the park.
There are also several retail outlets in the neighborhood, with most retail space found on Cermak Road and Halsted Street.
According to the most recent U.S. Census Bureau statistics, Beverly's population is 21,992. The neighborhood is still home to a large majority of Irish-Americans as well as smaller percentages of African Americans, Hispanic, and Asian residents. The median income in Beverly is $66,823.
The housing market in Beverly is currently going through a rocky period. According to the most recent quarterly statistics from the Chicago Association of Realtors, the number of homes sold during the second quarter of 2007 dropped to a total of 42.
The total number of homes sold has dropped for the last two consecutive years, from 57 sold during the second quarter of 2005.
Homeowners looking to sell their home this year are facing longer turnover rates in Beverly. It took an average of 105 days to sell a home in the neighborhood during the second quarter of 2007, up from 58 during the previous year.
However, the turnover rate is still off the high of 115 days during the second quarter of 2005.
The average sales price for single-family homes in Beverly continues to increase. The average sales price during the second quarter of this year rose 19 percent to $374,778. This is a modest increase when compared to the last few years. Prices went up by 145 percent during 2005.
The condominium market in Beverly is fairly small, with only 8 units sold during the second quarter of 2007.
Real Estate in Beverly
Buyers looking for condos in Beverly have few choices. Most of the current property listings are for single-family homes in the area. The current median price of homes in Beverly is $346,500.
One new condo development underway in Beverly is located at 1824 103rd Street, in the heart of the neighborhood. This development offers four bedroom and three bath luxury townhomes for just over $500,000. There is quick access to the downtown Chicago business district via nearby public transportation.
There is also a two flat building for sale at 2344 107th Street. This property has a two bedroom and two bath apartment and a one bedroom and one bath unit. The listing price is $499,900 for the property.