Transition of Lakewood-Balmoral
Circa 1885
A tobacco salesman from Philadelphia named John Cochran visited the Edgewater community in the 19th century and envisioned it as becoming one of the finest suburbs north of Chicago. In 1885 he bought 200 acres of land in what was then Lake View Township, and proceeded to divide the land into sections for development. Lakewood-Balmoral, then known as Cochran's Third Addition to Edgewater, was the last of those sections. In 1889 the city of Chicago annexed all of Lake View Township.
Around 1893, the first homes to be built were scattered up and down the eight blocks of Lakewood and Magnolia avenues. The Lakewood-Balmoral neighborhood drew some of the wealthiest Chicago families, including the Krafts. Cochran published A Home by the Lake, a booklet describing the benefits of owning a home in Lakewood-Balmoral. It described the area as "some of the best examples of English Gothic, Colonial, Flemish, Classic Colonial, Queen Anne and French Renaissance of the Transition period."
Transition post World War II
Following World War II, the once affluent Lakewood-Balmoral neighborhood (as well as most of Edgewater) experienced economic decline. Many beautiful older homes were subdivided into smaller units to accommodate the ballooning population in the 1970s, diminishing the lofty status of the neighborhood.
Present
Today, the neighborhood embraces its historic significance. Rather than tear down an old structure, residents have endeavored to restore their homes to the same amazing structures that would have been seen a century ago. Old-fashioned lamp posts light the quaint streets and gardens abound on the large lots. Chicago Landmark Commission has designated several homes as historic landmarks.
Additionally, Lakewood-Balmoral plans to increase commercial development and bring more shops and restaurants to the neighborhood, and the current alderman is attempting to increase the number of parks in the ward in addition to improving the area's existing recreational areas. A subsection of Andersonville, Lakewood-Balmoral is home to many residences of impeccable charm and old-fashioned style. It is the quiet neighbor of bustling Edgewater, which has the highest population density of any Chicago neighborhood. Other bordering neighborhoods include Andersonville, Uptown, and Ravenswood.