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 November's Market Update. Let’s take a look at residential real-estate activity in your area during the month of October. The number of active listings was down 3% from one year earlier, and down 12% 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 over 320-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 48%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just over 260-thousand dollars. The number of units sold increased 4% year-over-year, and increased 9% 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.
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Map Information for 60616 (Chicago, IL)
Area Information for 60616 (Chicago, IL)
  • Population: 50,747
  • Median Age: 37.47 yr
  • Median Commute Time: 30 mins
  • Educational Climate*: 3
  • Sales Tax: 9%
  • Population Density: 12,535/sq mi
  • Population Change Since 2000: 7.5%
  • Closest Airport: Chicago Midway International
  • Closest College: Vandercook College Of Music
  • Closest Jr. College: Taylor Business Institute
  • Median Household Income: $49,506
  • Annual Residential Turnover: 18%
  • Median Home Sales Price: $287,750
  • Closest Major Sports Team: Chicago White Sox
  • Change Avg. Household Income Since 2000: 58.41%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for 60616 (Chicago, IL)
Median Age: 37.47 Married: 31% Number of Households: 22,611 Households with Children: 4,876
    • 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
      John B Drake Elementary School 0.2 mi Public PRESCHOOL-8 0 0
      Ray Graham Training Center High School 0.3 mi Public 9-12 0 0
      Yccs - Ada S Mckinley Academy - Lakeside 0.4 mi Public 9-12 0 0
      Young Womens Leadership Charter School 0.4 mi Public 8-12 0 4
      Pui Tak Christian School 0.4 mi Private PRESCHOOL-7 0 0
      John Charles 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
      James Ward Elementary School 0.5 mi Public PRESCHOOL-8 4 0
      Santa Lucia School 0.6 mi Catholic PRESCHOOL-8 0 0
      Paul Laurence Dunbar Career Academy High School 0.6 mi Public 9-12 0 3
      Perspectives Charter Rodney D Joslin Campus 0.7 mi Public 6-12 1 3
      Mark Sheridan Elementary Math & Science Academy 0.8 mi Public K-8 5 0
      John J Pershing Elementary Humanities Magnet 0.8 mi Public PRESCHOOL-8 2 0
      Robert Healy Elementary School 0.9 mi Public PRESCHOOL-8 5 0
      Yccs - Youth Connections Leadership Academy 1.0 mi Public 10-12 0 3
      De La Salle Institute 1.0 mi Catholic 9-12 0 4
      Yccs - Jane Addams High School 1.2 mi Public 9-12 0 0
      Urban Prep Academy For Young Men - Bronzeville 1.2 mi Public 9-11 0 4
      James R Doolittle Jr 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 © 2016. School Performance data by School Review data by
      Local Weather for 60616 (Chicago, IL)
        Community information and market data Powered by Onboard Informatics. Copyright ©2016 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.