There are benefits to living a small life. Not only are these compact-sized dwellings more affordable (that includes price tag and utilities), but they’re easier to keep clean and just feel cozier. I know from my own experience residing in a studio apartment that you have to be creative as you declutter and organize your belongings to make it work. But once that happens, you’ll see that living minimally can be good for you. While the following listings are smaller than the median size of a new single-family house (according to the latest U.S. census data, those homes are 2,383 square feet, compared to 1,660 square feet 50 years ago), the best part about them is the famous saying: location, location, location. These properties are all conveniently located in desirable neighborhoods close to the lakefront, public transportation, and all the great things a city like Chicago has to offer.
1200 N Lake Shore Dr APT 305, $425,000
Let’s start at the corner of Division and Lake Shore Drive with the Stewart Apartments, one of the first highrise buildings to be constructed in the Gold Coast. Architects Marshall & Fox put up this elegant neoclassical design in 1912, which has immediate access to the beach and lakefront trail. While the 950-square-foot, one-bedroom, one-bathroom residence itself does not come with views, there is a communal space on the rooftop for residents to enjoy the skyline and Lake Michigan. The $1,486 monthly HOA fees cover 24-hour door staff and on-site management.
2800 N Pine Grove Ave UNIT 7G, $139,000
The historic landmark known as the Brewster is a rusticated Jasper stone Romanesque Revival building designed by architect Enoch Hill Turnock in 1893. It has a rare, preserved interior that includes a manually-operated cage elevator as well as a “sky lobby,” a glass-roofed atrium of suspended glass-block walkways. Each apartment, including this compact studio, opens directly to the skylight court. This living space might be a tight squeeze (believe it or not, the unit is already contingent), but there is plenty of breathing room just steps away at nearby Lincoln Park and the lakefront.
1516 N Bosworth Ave #3, Chicago, $325,000
This 1870s raised workers cottage in West Town was converted to a multi-unit building and got a major remodel back in 2014. The top floor two-bedroom, one-bathroom condo has an asking price of $325,000. Bright and airy, the skylights provide a good deal of natural light throughout the 900-square-foot, open-concept interior. It checks off a lot of boxes for potential buyers: good curb appeal, in-unit laundry, a balcony plus, and shared backyard.
5467 S Ingleside Ave APT 2E, $210,000
Courtyard apartment buildings are found in practically every city neighborhood. Hyde Park is no exception. The gated Ingleside Court Condominiums is located near the University of Chicago, plus restaurants and public transportation. This 850-square-foot, two-bedroom, one-bathroom condo is available right now for the price of $210,000 (and only $295 monthly HOA fees). It looks to be well maintained with original hardwood flooring while having some updates like new subway tiles in the bathroom.
846 W Cornelia Ave APT 101, $309,900
We’re finishing up with the historic Berwick apartment building in Lake View. What I love most about this one-bedroom, one-bathroom condo is that the interior has a lot of character, with the exposed brick walls yet a modernized feel. There is a large living/dining room that offers flexibility and the prospect of actually owning oversized furniture (although the unit itself measures only 900 square feet). Priced at only $309,000 with low assessments and the possible option to rent it out, this condo went contingent just days after hitting the market.