Real Estate Market Update for 60616 (Chicago, IL)

Video: Real Estate Community Tour for 60616 (Chicago, IL)

See Real estate community tour for 60616 (Chicago, IL)
Welcome to May's Market Update. Let’s take a look at residential real-estate activity in your area during the month of April. The number of active listings was down 29% from one year earlier, and down 8% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just under 290-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up 48%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just under 330-thousand dollars. The number of units sold increased 24% year-over-year, and increased 32% month-over-month. These figures may indicate that buyers have been taking advantage of opportunities in this market. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
Show Transcript
Map Information for 60616 (Chicago, IL)
Area Information for 60616 (Chicago, IL)
  • Population: 51,203
  • Median Age: 37.39 yr
  • Median Commute Time: 30 mins
  • Educational Climate*: 3
  • Sales Tax: 9%
  • Population Density: 12,648/sq mi
  • Population Change Since 2000: 8.37%
  • Closest Airport: Chicago Midway International
  • Closest College: Vandercook College Of Music
  • Closest Jr. College: Taylor Business Institute
  • Median Household Income: $48,572
  • Annual Residential Turnover: 18%
  • Median Home Sales Price: $271,000
  • Closest Major Sports Team: Chicago White Sox
  • Change Avg. Household Income Since 2000: 61.42%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for 60616 (Chicago, IL)
Median Age: 37.39 Married: 31% Number of Households: 22,877 Households with Children: 4,391
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for 60616 (Chicago, IL)

      School Name Distance Type Grades School Rating Parent Rating
      Drake Elementary School 0.2 mi Public PRESCHOOL-8 0 0
      Graham r Training Center 0.3 mi Public 9-12 0 0
      Young Womens Leadership Chartr High School 0.4 mi Public 8-12 0 4
      Pui Tak Christian School 0.4 mi Private PRESCHOOL-7 0 0
      Haines Elementary School 0.4 mi Public PRESCHOOL-8 5 0
      National Teachers Elementary Academy 0.5 mi Public PRESCHOOL-8 2 0
      St Therese School 0.5 mi Catholic PRESCHOOL-8 0 0
      St. Jerome School 0.5 mi Catholic PRESCHOOL-8 0 0
      Ward j Elementary School 0.5 mi Public PRESCHOOL-8 4 0
      Santa Lucia School 0.6 mi Catholic PRESCHOOL-8 0 0
      Loop Learning Center 0.6 mi Private PRESCHOOL-PRESCHOOL 0 0
      Dunbar Vocational Career Academy High School 0.6 mi Public 9-12 0 3
      Perspectives Charter High School 0.7 mi Public 6-12 1 3
      Sheridan Elementary Math & Science Academy 0.8 mi Public K-8 5 0
      Pershing Elementary Humanities Magnet 0.8 mi Public PRESCHOOL-8 2 0
      Healy Elementary School 0.9 mi Public PRESCHOOL-8 5 0
      Youth Connections Charter High School 1.0 mi Public 10-12 0 3
      De La Salle Institute 1.0 mi Catholic 9-12 0 4
      Jane Addams High School 1.2 mi Private 9-12 0 0
      Urban Prep Chtr South Shore High School 1.2 mi Public 9-11 0 5
      Doolittle Elementary School 1.3 mi Public PRESCHOOL-8 0 0
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: Onboard Informatics © 2015. School Performance data by School Review data by
      Local Weather for 60616 (Chicago, IL)
        Community information and market data Powered by Onboard Informatics. Copyright ©2015 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.