There are always good spots somewhere that have decent housing stock and attract people you want. But a median price of $2.3m can only have so many people around, and won't save a city.

Chicagoans are jockeying for single-family homes in this north-side neighborhood, where there is plenty of room for backyards and multicar garages. Luxury homes in Lincoln Square sold for a median of almost $2.3 million in the 12 months through October, up 38% from three years ago, according to an analysis by Juliana Yeager, a Chicago real-estate agent...

Buyers are drawn to Lincoln Square for the kind of homes more likely to exist in the suburbs, and they can get those wider floor plans here with the bonus of a commuter train stop....

Lincoln Square, which includes the Ravenswood area, is the kind of lower-density, walkable enclave where kids play outside and neighbors socialize. Large parks include baseball fields, numerous playgrounds and flowering prairie fields, and nearby private and public schools draw in young families. North Lincoln Avenue includes indie shops, a deli and a cobblestone plaza with a fountain. The community hosts annual events like the Square Roots music festival and an Oktoberfest, celebrating the area’s German heritage....