Chicago, IL 60605 Real Estate Market Report

ZIP Code: 60605
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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.

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Market Metrics

Note: 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.

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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.

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Property Taxes

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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.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the Chicago 60605 market are averaging 6.5%, reflecting a stable environment for property owners compared to the broader 2026 rate trends.

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

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Key Findings

1. The neighborhood’s primary market signal is the median sold price of 854,500, which anchors market value and suggests recent transaction prices are concentrated at a high-mid luxury level; sellers and appraisers should reference this representative recent sale when setting expectations (up price momentum).

2. Liquidity appears muted despite the headline price level: the median days on market of 343 points to slower sales velocity and pricing friction, which may require extended marketing windows or targeted pricing concessions to close deals.

3. Supply/demand context reads balanced-to-slightly constrained in the analyzed sample, so pricing power is localized: the median price per square foot of 394 supports premium per-foot valuations in walkable or amenity-rich pockets, but agents should align list strategies with the slower velocity signal to avoid extended time on market (neutral market temperature).

4. External pressure is a material risk for near-term closings: interest rate pressure is elevated and local financing averages near 6.5% for 30-year fixed mortgages, which may increase buyer sensitivity to pricing and favor buyers who can absorb higher payment burdens; concurrently, rents are rising (median market rent of 2,605 and up rent trend), supporting buy-to-rent demand where underwriting permits.

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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.

Chicago, IL 60605 Real Estate Market Report

ZIP Code: 60605
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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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.

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Market Metrics

Note: 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.

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Rental Market

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the Chicago 60605 market are averaging 6.5%, reflecting a stable environment for property owners compared to the broader 2026 rate trends.

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

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Key Findings

1. The primary market indicator, the median sold price 380,000, shows realized transaction values that align with a modestly appreciating trend; up price year-over-year suggests continued, if moderate, upward pressure on sale prices.

2. Liquidity appears muted: the median days on market 210 indicates slower sales velocity, which, combined with a relatively constrained active supply in the analyzed sample, may indicate careful buyer selection and longer negotiation timelines; market temperature is neutral.

3. There is a notable listing-to-sale relationship where the median listing price 357,425 sits below the median sold price 380,000, which may indicate pockets of competitive bidding or pricing friction that allow transactions to close above initial asking levels in certain segments; watch for this dynamic to persist in well-located SFR and condominium units.

4. Rental and financing context is mixed for investors: the median market rent 2,750 is rising (up rent year-over-year), but interest rate pressure is elevated with current 30-year fixed mortgage rates averaging 6.5%, which may compress near-term investment returns and buyer purchasing power.

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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.