Chicago, IL 60605 Real Estate Market Report

Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Market Metrics

The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

Property Taxes

Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

Market Trends & Context

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. The neighborhood's primary market indicator is the median sold price of 1,016,500, which represents recent transaction-level value and suggests pricing has firmed as of June 2026; consider anchoring comps and offer strategies to this realized price rather than asking prices. up
2. Listings are taking longer to convert: the median days on market of 270 points to slower sales velocity and greater opportunity for buyer negotiation; sellers should consider pricing or condition improvements to reduce time-to-contract, while buyers can use inspection and financing contingencies strategically. slower
3. Price and rent fundamentals show local strength: the median price per square foot of 394 alongside a median market rent of 2,576 and a reported rent year-over-year trend of up suggest continued demand for rental product—investors should evaluate hold vs. sell scenarios using these realized metrics. up
4. Financing and macro pressure are meaningful headwinds: reported interest rate pressure is elevated and the local 30-year fixed mortgage rate is 6.69% (noted as 0.29% higher than an earlier 6.40% reference), which may constrain some buyers and slow transaction velocity; factor higher borrowing costs into pricing sensitivity and contingency planning. elevated

Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.