“Cheaper” and “ocean” are two words you don’t typically hear together, especially when you’re talking about real estate. But my interest was piqued recently by a blog post from Margaret Goss, a Realtor® serving the exclusive North Shore area of suburban Chicago.
Her blog post is titled, Lakefront Homes in Winnetka—More Expensive than Living on the Ocean, and it turns out it’s pretty accurate, especially from a Ponte Vedra Beach point of view. She uses California as her oceanfront benchmark, but I did a quick comparison of a few properties on Ponte Vedra Blvd. on the ocean here, and some properties she notes on Sheridan Road in Winnetka. The results are interesting, to say the least:
Clearly, there’s a premium to be paid for proximity/access to Chicago, the nation’s 3rd largest city. The snow, wind chill factors and traffic are thrown in for free, I assume. But there’s something to be said for true oceanfront access at, in these cases at least, a significantly lower price.