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Real Estate Market Update for Chicago, IL

Video: Real Estate Community Tour for Chicago, IL

See Real estate community tour for Chicago, IL Welcome to the Windy City! Chicago is the 3rd largest city in the nation with nearly 3 million residents! Downtown, you'll find Millennium Park and The Magnificent Mile. Navy Pier on Lake Michigan leads to the nearby Crystal Gardens. Other attractions include the famous Willis Tower, Buckingham Fountain, and Lincoln Park. The Cubs, White Sox, Bears, Bulls, and Blackhawks are all historic sports teams. A strong public school system is supported by hundreds of private schools and more than 80 colleges and universities, including prestigious Northwestern University. Wicker Park and Bucktown are perfect if you seek luxury real estate. The Highlands, Beverly, and Gold Coast are also great residential areas. Chicago is not only a global financial center but home for many diverse industries. As a major transportation center, Chicago is served by two International airports O'Hare and Midway. Bus, subway, and elevated train service also guarantee rapid transit. Come and see all the Windy City has to offer!
Welcome to October's Market Update. Lets take a look at residential real-estate activity in your area during the month of September. The number of active listings was down 14% from one year earlier, and down 3% 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 310-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 9%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just over 270-thousand dollars. The number of units sold decreased 6% year-over-year, and decreased 19% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. 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.
Welcome to the Windy City! Chicago is the 3rd largest city in the nation with nearly 3 million residents! Downtown, you'll find Millennium Park and The Magnificent Mile. Navy Pier on Lake Michigan leads to the nearby Crystal Gardens. Other attractions include the famous Willis Tower, Buckingham Fountain, and Lincoln Park. The Cubs, White Sox, Bears, Bulls, and Blackhawks are all historic sports teams. A strong public school system is supported by hundreds of private schools and more than 80 colleges and universities, including prestigious Northwestern University. Wicker Park and Bucktown are perfect if you seek luxury real estate. The Highlands, Beverly, and Gold Coast are also great residential areas. Chicago is not only a global financial center but home for many diverse industries. As a major transportation center, Chicago is served by two International airports O'Hare and Midway. Bus, subway, and elevated train service also guarantee rapid transit. Come and see all the Windy City has to offer!
Show Transcript
Map Information for Chicago, IL
Area Information for Chicago, IL
  • Population: 2,769,061
  • Median Age: 35.26 yr
  • Median Commute Time: 34 mins
  • Educational Climate*: 3
  • Sales Tax: 10%
  • Population Density: 12,164/sq mi
  • Population Change Since 2000: -3.94%
  • Closest Airport: Chicago Midway International
  • Closest College: University Of Il-college Of Medicine
  • Closest Jr. College: Malcolm X College-city Clgs Chicago
  • Median Household Income: $50,248
  • Annual Residential Turnover: 15%
  • Median Home Sales Price: $240,000
  • Closest Major Sports Team: Chicago Blackhawks
  • Change Avg. Household Income Since 2000: 38.86%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for Chicago, IL
Median Age: 35.26 Married: 28% Number of Households: 1,081,245 Households with Children: 271,935
Community:
    • 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 Chicago, IL

      School Name Distance Type Grades School Rating Parent Rating
      Infinity Math Science And Technology High School 0.7 mi Public 9-12 2 4
      Greater Lawndale High School For Social Justice 0.7 mi Public 9-12 1 4
      Multicultural Academy Of Scholarship 0.7 mi Public 9-12 0 3
      St. Bruno School 1.5 mi Catholic PRESCHOOL-8 0 0
      Pope John Paul Ii Catholic School 1.8 mi Catholic PRESCHOOL-8 0 0
      Our Lady Of Tepeyac High School 2.2 mi Catholic 9-12 0 0
      Eric Solorio Academy High School 2.3 mi Public 9-12 3 4
      Mark Twain Elementary School 2.4 mi Public PRESCHOOL-8 5 5
      Community Services West High School 2.7 mi Public 11-12 0 0
      Florence Nightingale Elementary School 2.8 mi Public K-8 2 5
      Cristo Rey Jesuit High School 3.4 mi Catholic 9-12 0 4
      Orozco Fine Arts & Sciences Elementary School 3.5 mi Public PRESCHOOL-8 4 0
      Peace And Education Coalition High School 3.5 mi Public 9-12 0 0
      Richards Career Academy High School 3.8 mi Public 9-12 0 4
      De La Salle Institute - Lourdes Hall Campus For Young Women 3.9 mi Catholic 9-12 0 3
      St Barbara Elementary School 4.1 mi Catholic PRESCHOOL-8 0 0
      Simpson Academy High School For Young Women 4.1 mi Public 6-12 0 0
      Raby High School 4.2 mi Public 9-12 0 4
      Claremont Academy Elementary School 4.2 mi Public PRESCHOOL-8 0 0
      Robert Lindblom Math & Science Acad High School 4.2 mi Public 7-12 5 4
      Richard T Crane Medical Preparatory High School 4.2 mi Public 9-9 0 0
      Urban Prep Academy For Young Men - West 4.3 mi Public 9-12 0 4
      Amandla Charter School 4.4 mi Public 5-12 0 3
      Austin Polytechnical Academy High School 4.4 mi Public 9-12 0 4
      Austin Bus & Entrepreneurship High School 4.4 mi Public 9-12 0 4
      Bridgeport Catholic - S Campus 4.4 mi Catholic PRESCHOOL-8 0 4
      Westinghouse High School 4.5 mi Public 9-12 5 4
      Tilden Career Communty Academy High School 4.6 mi Public 9-12 0 3
      Robert Healy Elementary School 4.6 mi Public PRESCHOOL-8 5 0
      Orr Academy High School 4.7 mi Public 9-12 0 2
      St. Ignatius College Prep 4.8 mi Catholic 9-12 0 4
      Jackson A Elementary Language Academy 4.8 mi Public K-8 5 0
      Whitney M Young Magnet High School 4.9 mi Public 7-12 5 4
      Yccs - Austin Career Education Center 5.0 mi Public 10-12 0 0
      Sarah E Goode Stem Academy High School 5.1 mi Public 9-12 0 4
      Yccs - Youth Connections Leadership Academy 5.3 mi Public 10-12 0 3
      Milton Brunson Math & Science Specialty Elementary School 5.3 mi Public PRESCHOOL-8 0 0
      De La Salle Institute 5.4 mi Catholic 9-12 0 4
      Chicago Virtual Charter School 5.5 mi Public K-12 3 0
      Wendell Phillips Academy High School 5.6 mi Public 9-12 0 4
      St Rita Of Cascia High School 5.6 mi Catholic 9-12 0 4
      Team Englewood Community Academy High School 5.8 mi Public 9-12 0 5
      St Angela Elementary School 5.8 mi Catholic PRESCHOOL-8 0 0
      St. Bede The Venerable 5.8 mi Catholic PRESCHOOL-8 0 0
      Wells Community Academy High School 5.9 mi Public 9-12 0 3
      Camelot - Excel Englewood High School 5.9 mi Public 9-12 0 3
      Josephinum Academy 6.1 mi Catholic 9-12 0 0
      William Jones College Preparatory High School 6.1 mi Public 9-12 5 4
      The Chicago Academy For The Arts 6.2 mi Private 9-12 0 0
      Prologue Early College High School 6.3 mi Public 9-12 0 0
      Holy Trinity High School 6.3 mi Catholic 9-12 0 4
      Pathways In Education- Ashburn 6.4 mi Public 9-12 0 0
      Walter Payton College Preparatory High School 7.1 mi Public 9-12 5 4
      Catherine Cook School 7.4 mi Private PRESCHOOL-8 0 5
      Walter Q Gresham Elementary School 7.4 mi Public PRESCHOOL-8 0 0
      Univ Of Chicago Lab School 7.5 mi Private PRESCHOOL-12 0 3
      Latin School Of Chicago Upper 7.7 mi Private PRESCHOOL-12 0 0
      Antonia Pantoja High School 7.7 mi Private 10-12 0 0
      Intrinsic Charter High School 7.8 mi Public 7-12 0 4
      Mother Mcauley Liberal Arts High School 7.9 mi Catholic 9-12 0 4
      Mt Carmel High School 7.9 mi Catholic 9-12 0 4
      Evergreen Park High School 8.0 mi Public 9-12 3 4
      Br Rice High School 8.0 mi Catholic 9-12 0 4
      John H Vanderpoel Elementary Magnet School 8.0 mi Public K-8 2 0
      Prologue-joshua Johnston Charter School 8.1 mi Public 9-12 0 4
      St Patrick High School 8.1 mi Catholic 9-12 0 3
      Francis W Parker School 8.1 mi Private PRESCHOOL-12 0 0
      Devry Advantage Academy High School 8.2 mi Public 11-12 5 4
      Midwestern Christian Academy 8.2 mi Private PRESCHOOL-8 0 0
      Schurz High School 8.3 mi Public 9-12 0 3
      St John Fisher Elementary School 8.4 mi Catholic PRESCHOOL-8 0 0
      Gordon Tech High School 8.5 mi Catholic 9-12 0 4
      James E Mcdade Elementary Classical School 8.5 mi Public K-6 5 0
      Lane Technical High School 8.5 mi Public 7-12 5 4
      South Shore Intl College Prep High School 9.1 mi Public 9-10 0 3
      Luther North College Prep 9.3 mi Private 9-12 0 4
      St Christina School 9.3 mi Catholic PRESCHOOL-8 0 0
      St John Lutheran School 9.3 mi Private PRESCHOOL-8 0 0
      St. Edward 9.4 mi Catholic PRESCHOOL-8 0 0
      Morgan Park Academy 9.7 mi Private PRESCHOOL-12 0 0
      Marist High School 9.9 mi Catholic 9-12 0 4
      Lycee Francais De Chicago 9.9 mi Private PRESCHOOL-12 0 0
      Thomas A Edison Regional Gifted Center Elementary School 10.0 mi Public K-8 5 0
      Jean Baptiste Beaubien Elementary School 10.2 mi Public PRESCHOOL-8 5 0
      St Matthias School 10.2 mi Catholic PRESCHOOL-8 0 0
      Friedrich W Von Steuben Metropolitan Science Hs 10.2 mi Public 9-12 3 4
      Uplift Community High School 10.4 mi Public 9-12 0 4
      Northside College Preparatory High School 10.8 mi Public 9-12 5 4
      Epic Academy High School 10.8 mi Public 9-12 0 4
      John W Garvy Elementary School 10.9 mi Public K-8 4 0
      Gwendolyn Brooks College Preparatory Academy Hs 10.9 mi Public 9-12 5 4
      Bais Yaakov High School 11.3 mi Private 9-12 0 0
      Dewitt Clinton Elementary School 11.6 mi Public PRESCHOOL-8 3 0
      Chicago Collegiate Charter School 11.7 mi Public 4-8 1 4
      Lubavitch Girls High School 11.8 mi Private 9-12 0 0
      Immaculate Conception School 11.8 mi Catholic PRESCHOOL-8 0 0
      Resurrection High School 12.1 mi Catholic 9-12 0 4
      St. Thecla 12.2 mi Catholic PRESCHOOL-8 0 0
      Sullivan High School 12.5 mi Public 9-12 0 3
      Chicago Waldorf School 12.6 mi Private PRESCHOOL-12 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 SchoolDigger.com. School Review data by Niche.com.
      Local Weather for 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.