River North and Streeterville, Chicago: A Buyer's Guide

River North and Streeterville sit just north of the Chicago River, on either side of Michigan Avenue. River North runs west of Michigan Avenue and is known for converted warehouse lofts, galleries, and restaurants. Streeterville runs east to the lake and is almost entirely high-rise, home to Navy Pier and the Northwestern Medicine campus. In both, buying a home usually means buying a condo, which makes the building itself as important as the unit.

What types of homes are in River North and Streeterville?

Most homes for sale are condos. River North mixes timber and brick loft conversions from its warehouse era with mid-rise and high-rise towers built since the 1990s. Streeterville is mostly high-rise buildings, many with doorman service, fitness centers, and lake or river views. Townhomes and single-family homes are rare in both neighborhoods.

What should I check before buying a high-rise condo?

Start with the association's finances. After your offer is accepted, the association provides a disclosure package covering its budget, reserves, insurance, litigation, and planned special assessments. In older high-rises, look closely at major systems like windows, elevators, and the building facade. Chicago requires buildings 80 feet or taller to have their exterior walls inspected regularly, and repairs identified by those inspections can lead to special assessments if reserves are thin. Also compare what monthly assessments include, since many high-rises cover heat, air conditioning, internet, or door staff.

Can I rent out a condo in River North or Streeterville?

It depends on the building. Many associations limit or prohibit leasing in their declarations, and some cap the number of units that can be rented at once. Short-term rentals of 31 days or fewer face an additional layer of rules: condo associations can add their building to the City of Chicago's Prohibited Buildings List, which bans short-term rentals building-wide. If you're buying as an investor or may rent the unit later, review the building's rules and the city's list before making an offer.

What's the River North and Streeterville market doing right now?

Pricing differs widely between loft conversions, older towers, and newer luxury buildings. For current numbers, see the weekly neighborhood market data, searchable by location and property type.

How does parking work in River North and Streeterville?

Most high-rises have garage parking, but it's often sold separately from the unit as a deeded space, assigned by the association, or leased monthly from a garage operator. Deeded spaces carry their own purchase price and, in many cases, their own property tax bill. Some loft buildings have little or no parking. Confirm exactly what parking comes with a unit, how it's owned, and what it costs each month.

How do you get from River North or Streeterville to the Loop?

Many residents walk, since both neighborhoods border the Loop across the river. In River North, the Red Line stops at Grand and Chicago, and the Brown and Purple Lines stop at Chicago and Merchandise Mart. Streeterville has no train station of its own, so residents rely on frequent buses along Michigan Avenue, Chicago Avenue, and the Grand and Illinois corridor, or walk west to the Red Line.

What are property taxes like here?

Property taxes depend on each unit's assessed value and the local tax rate, so budget from the actual bill for the specific unit, plus any separate bill for a deeded parking space. As a benchmark, the Civic Federation estimated Chicago's effective residential tax rate at 1.69% of market value in tax year 2022. See our guide to property taxes and other costs when moving to Chicago.

What is there to do in River North and Streeterville?

The Chicago Riverwalk runs along the south edge of both neighborhoods, and Michigan Avenue's shopping corridor divides them. Streeterville is home to Navy Pier, Ohio Street Beach, and the Museum of Contemporary Art. River North has one of the city's largest concentrations of restaurants and art galleries, along with the Merchandise Mart.

Where can I research schools and public safety?

Chicago Public Schools assigns schools by address. Use the CPS School Locator to confirm the schools for a specific property. For public safety, the City of Chicago publishes crime data on its open data portal.

Every Pareto client works with the same process, strategy, and tools, whichever neighborhood they choose. More guides: Chicago Neighborhood Guides.