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 primary indicator of market value is the median sold price of 844,500, which anchors recent transactions and suggests pricing for comparable SFR and condominium offerings in 60605; given the neutral market temperature, this price point appears to represent a balanced outcome between buyers and sellers.
2. Liquidity is slow relative to typical urban markets: the median days on market of 987 points to extended marketing periods and slower sales velocity, which may indicate increased negotiation leverage for buyers and pricing friction for sellers.
3. Price and cost pressures are mixed: local prices are trending down year-over-year (down), while rental economics are improving—median market rent of 2,559 and a rent year-over-year trend of up support continued investor interest in the rental market.
4. Financing and affordability headwinds are material: local mortgage conditions show average 30-year rates near 6.59% and the interest rate pressure is elevated (elevated), which may suppress move-up buyer demand and lengthen time-to-contract; sellers should price competitively and prepare for longer listing campaigns given relatively constrained active supply and moderate transaction volume.

Notable Properties

The following 5 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.