North Shore Suburb Named 'Most Expensive Neighborhood' In Illinois

GLENCOE, IL — Glencoe has the most expensive houses of any community in Illinois, according to a recent report.

With a mean home price of more than $3 million, the average single family home in the village is valued at nearly twice as much as Chicago's most expensive neighborhood and well over double the average of any neighboring state.

But it does not come close to the astronomical average valuations of the most expensive neighborhoods in the country.

Nine of the nation's 10 most expensive are located in Florida, California and New York, according to the CashNetUSA report, which calculated the average home price using real estate data from Zillow.

It found the most expensive neighborhood in the country is Manalapan in Palm Beach County, Florida, with an average house price of nearly $40 million.

Beverly Hills Gateway in Los Angeles County, California, was the most expensive neighborhood on the West Coast, with an average house price of more than $22.7 million.

In Chicago, the 10 most expensive neighborhoods were all located north of Randolph Street and south of Diversey Parkway.

The city's most expensive neighborhood is "New Eastside" — the area north of Grant Park, south of the river and east of Michigan Avenue. It has an average home price of nearly $1.7 million.

Next up is Sheffield Neighbors, Streeterville, Near North, Lincoln Park and Gold Coast, the only other Chicago neighborhoods to have seven-figure average home valuations.

"Chicago is known as an affordable alternative ‘big city,’" the report said, "and some of the pricier neighborhoods in our study get their big price tag courtesy of a minority of luxury homes (such as the Gold Coast) dragging up the average. The bustling waterside community of River North offers an alternative at the cheaper end of expensive."