Understanding the Commercial Real Estate World of Beverly, Chicago

Beverly, located on Chicago’s South Side, is a neighborhood that stands out for its historic charm, strong sense of community, and distinct residential character. Beverly is one of Chicago’s most picturesque neighborhoods known for its large homes, tree-lined streets, and strong Irish-American heritage. While it is primarily residential, Beverly also has a thriving commercial real estate market that supports the needs of its residents and attracts visitors from across the city. This article explores Beverly’s commercial real estate landscape, offering insights into the neighborhood’s unique characteristics, economic trends, and key points of interest that define its identity.

A Brief Overview of Beverly

87th Street borders Beverly to the north, Vincennes Avenue to the east, 107th Street to the south, and Western Avenue to the west. The neighborhood is well-known for its distinctive architecture, with a mix of historic mansions, bungalows, and Tudor-style homes. Beverly’s elevated location, which includes the highest natural point in Chicago, adds to its unique charm.

Beverly has long been a destination for families looking for a suburban feel within the city. The neighborhood’s strong community ties, excellent schools, and vibrant cultural scene make it an attractive place to live and work. Beverly’s commercial corridors, particularly along Western Avenue, offer a variety of businesses that cater to residents and visitors, making the area a key location for commercial real estate investment.

The Commercial Real Estate Landscape

Beverly’s commercial real estate market primarily focuses on retail, office spaces, and mixed-use developments. The neighborhood’s stable residential base, coupled with its strong community engagement, creates a supportive environment for local businesses and offers opportunities for long-term investment.

1. Retail Spaces: Beverly’s main commercial corridors, particularly along Western Avenue and 95th Street, are home to various retail businesses. These areas are bustling with activity, offering everything from boutique shops and restaurants to essential services like grocery stores and pharmacies.

2. Chicago Office Spaces: While Beverly is primarily residential, there are opportunities for small office spaces, particularly for healthcare providers, legal practices, and professional services. These offices are often in converted residential properties or small commercial buildings along major streets.

3. Mixed-Use Developments: Mixed-use properties are becoming more common in Beverly, especially along its busier streets. These developments typically feature ground-floor retail or office spaces with residential units above, providing a steady income stream for investors while meeting the needs of the local population.

4. Historic Properties: Beverly’s rich architectural heritage includes many historic buildings repurposed for commercial use. These properties offer unique opportunities for businesses to establish themselves in a distinctive and historically significant setting.

Key Points of Interest in Beverly

Understanding Beverly’s commercial real estate market requires an appreciation of the neighborhood’s key landmarks and community assets. These points of interest not only define Beverly’s character but also influence its commercial landscape:

1. Beverly Arts Center: A cultural hub in the neighborhood, the Beverly Arts Center offers a variety of programs in visual and performing arts, attracting visitors and supporting local businesses.
2. Ridge Historical Society: This local organization is dedicated to preserving Beverly’s rich history and architecture. It offers tours, lectures, and exhibitions that draw history enthusiasts to the area.
3. Western Avenue Corridor: A major commercial thoroughfare, Western Avenue is lined with businesses that serve the local community, making it a key area for economic activity and investment.
4. Dan Ryan Woods: A large forest preserve that offers hiking trails, picnic areas, and scenic views, Dan Ryan Woods is a popular destination for outdoor recreation, enhancing the appeal of nearby properties.
5. Beverly Unitarian Church – The Castle: A historic church housed in a striking castle-like building, this landmark is a focal point for the community and a unique venue for events.
6. Morgan Park Academy: A private college-preparatory school with a long history in the neighborhood, Morgan Park Academy attracts families to the area and supports businesses catering to students and staff.
7. 95th Street Metra Station: Providing direct access to downtown Chicago, the 95th Street Metra Station is a critical transportation hub that boosts the value of nearby commercial properties.
8. Ridge Park: A large park offering sports facilities, a swimming pool, and an art gallery, Ridge Park is a vital community asset that enhances the neighborhood’s livability.
9. Saint Barnabas Church: A historic church in Beverly, Saint Barnabas serves as the neighborhood’s spiritual and cultural anchor.
10. The Beverly Review: A long-standing community newspaper, The Beverly Review provides local news and events coverage, supporting the neighborhood’s strong sense of community.
11. Original Rainbow Cone: A beloved local ice cream shop serving Beverly residents for decades, Original Rainbow Cone is a neighborhood institution that draws visitors from across the city.
12. Vanderpoel Art Association Gallery: Located in Ridge Park, this gallery showcases a diverse collection of artwork, contributing to Beverly’s cultural vibrancy.
13. Klein Park (aka Givins Park): A small but well-loved park in Beverly, Klein Park offers playgrounds and open space for families, contributing to the neighborhood’s appeal.
14. Christ the King Parish: Another important religious institution in Beverly, Christ the King Parish plays a significant role in the spiritual and social life of the community.
15. Beverly Country Club: A private golf club with a rich history, Beverly Country Club is a major recreational facility that attracts members from across the region.
16. Beverly Hills Cycling Classic: This annual bike race draws competitors and spectators to the neighborhood. It supports local businesses and fosters community spirit.
17. Smith Village: A senior living community in Beverly, Smith Village is an important institution that provides housing and services for older adults, contributing to the neighborhood’s diversity.
18. Chicago Public Library – Beverly Branch: A vital community resource, the Beverly Branch Library offers educational programs, resources, and a gathering place for residents.
19. Beverly Area Planning Association (BAPA): A local organization that advocates for the neighborhood’s interests, BAPA plays a crucial role in shaping Beverly’s development and supporting community initiatives.
20. Longwood Drive Historic District: This residential area is known for its historic homes and architectural significance, which attract visitors and contribute to Beverly’s unique charm.

Conclusion

Beverly is a neighborhood combining historic charm with a strong sense of community, making it an attractive destination for residents and businesses. Its commercial real estate market offers a range of opportunities, from retail spaces and office properties to mixed-use developments and historic buildings. The neighborhood’s key points of interest, from its parks and schools to its churches and cultural institutions, contribute to its identity and make it a desirable area for investment.

Beverly presents a stable and promising market for commercial real estate investors. The neighborhood’s strong community ties, strategic location, and ongoing development offer the potential for long-term growth and success. Whether you’re an entrepreneur looking to open a new business or an investor seeking stable returns, Beverly has much to offer in the commercial real estate world.