This has been a neighborhood that has seen an incredible amount of appreciation over the past few years. An area once inhabited by low-rent housing and rental buildings, Rogers Park has begun to draw home buyers due to its more affordable price point and it's proximity to the "el".
Rogers Park is the northernmost neighborhood in the city of Chicago bordering with the town of Evanston, and it is the only place that has direct access to Lake Michigan from it's streets. The remaining borders are Western Avenue to the west, Devon Avenue to the south, and of course Lake Michigan to the east. It covers enough ground to actually be divided into two neighborhoods: East Rogers Park and West Rogers Park.
One reason for all the building rehabs is the wealth of large apartment buildings, likely the most of any neighborhood in the city. You can find several sizable courtyard buildings on every block, along side smaller apartment buildings and single-family homes. The fact that this is a very densely populated area puts parking here at a real premium.
Loyola University Chicago also can be found in this area. The school has a nice campus located on the southeast corner of Rogers Park, smack-dab on Lake Michigan. The student body brings an additional dimension to an already very diverse area.