The neighborhood population is primarily made up of young professionals, recent college graduates, and young families. Lincoln Park is home to Lincoln Park High School, Francis W. Parker School, and DePaul University which bought out the McCormick Seminary buildings in 1975, when the seminary moved to Hyde Park. Many students who attend these schools now live in this neighborhood.

There are many boutiques, movie theaters, retail stores, restaurants and coffee shops. There are also many bars and clubs in the area, especially along Lincoln Avenue between Diversey and Armitage.