About the Chicago and Lincoln Park Real Estate Market
The town of Chicago has an extremely
thriving real estate market, which in turn has made housing available to all
sectors of the population according to their needs and income. Real estate in
the city's 77 community areas and 200 individual neighborhoods offer the
amenities of very convenient transportation, nearby shopping, and a wide
variety of cultural events.
COST OF HOUSING - Most of the older
homes in the area are Victorian style, which range from $900,000 to about $2
million. New homes range from $350,000 to $700,000, depending on size and
location. Rentals in the area can be quite pricey, ranging anywhere from
$750/month to $4,000.
|
AVERAGE HOME VALUES
IN MAJOR COMMUNITY AREAS |
|
Community
Area |
1999 |
2000 |
2001 |
|
1. |
Rogers Park |
$119,900 |
$128,000 |
$148,000 |
|
2. |
West Ridge |
$133,075 |
$135,000 |
$147,500 |
|
3. |
Uptown |
$155,000 |
$176,000 |
$225,000 |
|
4. |
Lincoln Square |
$145,100 |
$141,640 |
$201,250 |
|
5. |
North Center |
$299,900 |
$325,900 |
$339,000 |
|
6. |
Lake View |
$234,000 |
$275,000 |
$290,000 |
|
7. |
Lincoln Park |
$292,000 |
$312,000 |
$365,000 |
|
8. |
Near North Side |
$235,000 |
$271,000 |
$280,000 |
|
9. |
Edison Park |
$189,000 |
$231,000 |
$234,900 |
|
10. |
Norwood Park |
$190,000 |
$199,000 |
$226,000 |
|
11. |
Jefferson Park |
$166,000 |
$185,000 |
$198,100 |
|
12. |
Forest Glen |
$275,000 |
$315,000 |
$335,500 |
|
13. |
North Park |
$195,000 |
$219,000 |
$225,000 |
|
14. |
Albany Park |
$150,000 |
$153,000 |
$185,400 |
|
15. |
Portage Park |
$164,000 |
$173,500 |
$207,000 |
|
16. |
Irving Park |
$157,250 |
$188,000 |
$169,000 |
|
17. |
Dunning |
$160,000 |
$176,000 |
$195,000 |
|
18. |
Montclare |
$139,900 |
$155,500 |
$167,000 |
|
19. |
Belmont Cragin |
$142,000 |
$155,600 |
$174,000 |
|
20. |
Hermosa |
$133,500 |
$140,000 |
$169,900 |
|
21. |
Avondale |
$150,000 |
$142,000 |
$210,620 |
|
22. |
Logan Square |
$171,500 |
$228,000 |
$199,900 |
|
23. |
Humboldt Park |
$85,000 |
$85,000 |
$90,000 |
|
24. |
West Town |
$223,512 |
$269,900 |
$289,000 |
|
25. |
Austin |
$109,000 |
$104,900 |
$107,000 |
|
26. |
West Garfield Park |
$27,250 |
N/A |
$30,000 |
|
27. |
West Garfield Park |
$125,000 |
$132,000 |
$40,000 |
|
28. |
Near West Side |
$217,925 |
$237,000 |
$265,000 |
|
29. |
North Lawndale |
$115,000 |
$95,000 |
$57,500 |
|
30. |
South Lawndale |
$93,000 |
$105,000 |
$112,000 |
|
31. |
Lower West Side |
$103,000 |
$95,000 |
$95,000 |
|
32. |
Loop |
$203,000 |
$250,000 |
$224,348 |
|
33. |
Near South Side |
$219,100 |
$192,485 |
$260,000 |
|
34. |
Armour Square |
$104,000 |
$286,000 |
$130,000 |
|
35. |
Douglas |
$184,000 |
$210,000 |
$145,000 |
|
36. |
Oakland |
$146,500 |
N/A |
$85,000 |
|
37. |
Fuller Park |
N/A |
N/A |
N/A |
|
38. |
Grand Boulevard |
$122,500 |
$165,000 |
$189,000 |
|
39. |
Kenwood |
$140,000 |
$139,900 |
$209,000 |
|
40. |
Washington Park |
$59,900 |
$143,400 |
$130,000 |
|
41. |
Hyde Park |
$125,000 |
$125,000 |
$175,000 |
|
42. |
Woodlawn |
$34,000 |
$110,900 |
$170,000 |
|
43. |
South Shore |
$66,500 |
$74,200 |
$79,900 |
|
44. |
Chatham |
$78,000 |
$89,900 |
$97,900 |
|
45. |
Avalon Park |
$89,000 |
$70,000 |
$115,200 |
|
46. |
South Chicago |
$60,000 |
$47,250 |
$56,001 |
|
47. |
Burnside |
$73,000 |
$75,000 |
$41,875 |
|
48. |
Calumet Heights |
$90,500 |
$92,000 |
$89,000 |
|
49. |
Roseland |
$79,900 |
$59,900 |
$73,000 |
|
50. |
Pullman |
$62,000 |
$57,000 |
$46,000 |
|
51. |
South Deering |
$65,000 |
$52,000 |
$49,000 |
|
52. |
East Side |
$83,500 |
$82,599 |
$92,000 |
|
53. |
West Pullman |
$70,000 |
$58,000 |
$50,155 |
|
54. |
Riverdale |
$55,000 |
$75,000 |
$42,000 |
|
55. |
Hegewisch |
$90,000 |
$82,500 |
$116,500 |
|
56. |
Garfield Ridge |
$137,000 |
$135,000 |
$154,200 |
|
57. |
Archer Heights |
$123,500 |
$129,900 |
$138,000 |
|
58. |
Brighton Park |
$31,000 |
$100,000 |
$123,000 |
|
59. |
McKinley Park |
$83,000 |
$92,900 |
$119,900 |
|
60. |
Bridgeport |
$116,000 |
$98,500 |
$155,000 |
|
61. |
New City |
$56,000 |
$50,000 |
$35,000 |
|
62. |
West Elsdon |
$118,000 |
$126,000 |
$140,000 |
|
63. |
Gage Park |
$91,000 |
$101,000 |
$114,900 |
|
64. |
Clearing |
$124,000 |
$119,000 |
$141,000 |
|
65. |
West Lawn |
$116,500 |
$123,000 |
$138,000 |
|
66. |
Chicago Lawn |
$85,000 |
$85,000 |
$98,000 |
|
67. |
West Englewood |
$25,000 |
$24,000 |
$27,500 |
|
68. |
Englewood |
$24,000 |
$31,350 |
$26,000 |
|
69. |
Grtr. Grand
Crossing |
$76,000 |
$50,000 |
$72,000 |
|
70. |
Ashburn |
$107,500 |
$109,000 |
$117,000 |
|
71. |
Auburn Gresham |
$81,900 |
$75,000 |
$72,000 |
|
72. |
Beverly |
$159,900 |
$165,000 |
$195,000 |
|
73. |
Washington Heights |
$85,000 |
$85,000 |
$92,000 |
|
74. |
Mount Greenwood |
$117,000 |
$127,000 |
$135,400 |
|
75. |
Morgan Park |
$89,501 |
$86,500 |
$92,500 |
|
76. |
O'Hare |
$103,000 |
$125,000 |
$135,000 |
|
77. |
Edgewater |
$120,000 |
$135,000 |
$148,645 |
SOURCE: Multiple Listing
Service of Northern Illinois Inc., June 5, 2001
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First Time Buyers >Services from a Real Estate Agent
It's an old adage that "the best things in life are free." One of these things is extremely valuable to home buyers -- the advice of an experienced real estate sales professional.
In the traditional home sale, it is the seller who pays the commission that is divided among the various sales professionals involved in the transaction. Unless you are hiring a buyer's broker, the buyer gets several free services from the real estate agent: 1) Target marketing that locates the homes you can afford; 2) Loan pre-qualification that saves you time; 3) Guidance in obtaining the best mortgage terms.
The marketing professional knows that if there is no financing, there is no purchase. Most real estate agents have become quite expert in the mortgage market. Please contact a real estate professional if you are seeking advice about buying or selling a property.
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 |
| Q |
What famous $40+ million home has a 60-foot pool with underwater music and a 20-car garage?
|
| A |
The home of Bill Gates, co-founder of Microsoft, features the latest futuristic computer technology. |
 See More Real Estate Trivia > |
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