New Eastside Real Estate Guide 2026: Chicago's Most Undervalued Lakefront Neighborhood

Hazel Mae
May 16
4 min read

Updated: 4 days ago

By Jason Rowland | Founder & Managing Broker, Rowland Group at Compass | May 2026

New Eastside is the best real estate story in Chicago that most people haven't heard yet. Tucked between Millennium Park, Lake Michigan, and the Chicago River, it is one of the most physically spectacular urban neighborhoods in America waterfront living with a downtown address, Millennium Park as your front yard, and the lakefront path literally at your doorstep. Yet it trades at prices that would be unthinkable for a comparable address in New York, San Francisco, or even the Gold Coast. That gap is closing. Here is the full picture for 2026.

What Is New Eastside?

New Eastside is a planned residential community developed primarily from the 1990s onward on former rail yards east of Michigan Avenue, between the Chicago River and Lake Michigan. Its primary residential buildings Aqua Tower, 340 on the Park, Chandler, Harbor View, Buckingham, and others are clustered around Lakeshore East Park, a beautifully maintained private park at the neighborhood's center. The area is bounded by Randolph Street to the north, Lake Shore Drive to the east, the river to the south and west.

Why New Eastside Is Undervalued

The simple answer is awareness. New Eastside doesn't have the brand recognition of the Gold Coast or Lincoln Park despite offering comparable or superior physical attributes lake views, park access, walkability for meaningfully lower prices. A two-bedroom with lake views in New Eastside might trade for $700K-$900K. A comparable unit in the Gold Coast would be $1M-$1.5M. The fundamentals are identical; the price differential is a function of market awareness, not underlying value.

I have been tracking this gap for years, and it is narrowing. As Millennium Park's regional and national profile has grown, and as the neighborhood's amenity base has matured, buyers are discovering New Eastside. The trajectory of appreciation here has outpaced many better-known Chicago neighborhoods in recent years, and I expect that to continue.

New Eastside Real Estate Prices in 2026

Condos with Lake & Park Views

One-bedroom condos in New Eastside buildings start around $350K-$500K. Two-bedrooms with lake or park views typically run $650K-$1.1M. Three-bedrooms in full-amenity buildings like Aqua or 340 on the Park range from $1M-$2M. Penthouse units with unobstructed lake views have traded above $3M.

Building Quality & Amenities

New Eastside buildings are among the best-amenitized in Chicago full concierge service, fitness centers, pools, private terraces, and in-building parking are standard in the major buildings. Aqua Tower, designed by Jeanne Gang, is one of the most architecturally significant residential buildings in the world. Living in a building of this quality in this location, at these prices, is a value proposition that I believe will be fully recognized by the market within this decade.

The New Eastside Market in 2026

New Eastside is a low-volume, low-turnover market residents who discover the neighborhood tend to stay. This means inventory is genuinely constrained even by Chicago standards, and when quality units become available they attract serious buyers. Days on market for well-priced product is competitive with other premium Chicago neighborhoods.

The buyer profile skews toward downsizers from large Chicago homes, young executives seeking a premium city base, and out-of-state buyers relocating to Chicago who are drawn to the combination of a downtown address and genuine lakefront access. We also see meaningful interest from buyers maintaining a Chicago pied-a-terre alongside a suburban or out-of-state primary residence.

What It's Like to Live in New Eastside

Millennium Park with the Cloud Gate, the Pritzker Pavilion, and some of the best public programming in any American city is literally steps away. The lakefront running and cycling path runs directly past the neighborhood. Whole Foods and a growing set of retail and dining options are within the neighborhood. The Loop and all of its commercial and cultural amenities are a 10-minute walk. It is, by any honest assessment, one of the finest urban living situations available in the American Midwest.

Frequently Asked Questions: New Eastside Real Estate

Why is New Eastside less expensive than the Gold Coast?

Primarily market awareness and history. The Gold Coast has 150 years of prestige attached to its name. New Eastside is a relatively young neighborhood its major buildings were constructed from the 1990s onward and has not yet accumulated the same level of brand recognition. The physical and lifestyle attributes are comparable and in some respects superior. The price gap is opportunity.

Is New Eastside a good long-term investment?

I believe it is one of the best long-term real estate investments available in Chicago today. The combination of a genuinely scarce lakefront downtown address, improving amenity base, growing market recognition, and pricing still below comparable Gold Coast units makes a compelling case. I have been recommending New Eastside to clients for years and the appreciation data has validated that thesis.

What buildings are in New Eastside?

The major residential buildings include Aqua Tower, 340 on the Park, The Chandler, Harbor View, The Buckingham, Shoreham, Tides, and Park Millennium, among others. Each has a distinct profile in terms of unit mix, amenities, and price range. Contact Rowland Group for a building-by-building breakdown matched to your specific criteria.

About the Author

Jason Rowland is the Founder and Managing Broker of Rowland Group at Compass, Chicago's top-producing real estate team. With $400M+ in closed transactions and over 15 years of experience, Jason is consistently ranked in the Top 1% by the Chicago Association of REALTORS®. Contact: jason.rowland@compass.com | 312-927-1942 | rowlandgroupre.com