Chicago, IL 60614 Real Estate Market Report

ZIP Code: 60614
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price in Chicago, IL (ZIP: 60614) is $1,795,000, reflecting a robust market despite the current dynamics. The neighborhood has increased up since 2023, indicating a positive trend in property values. The market is characterized by moderate transaction volume and elevated inventory levels, suggesting a balance between supply and demand, though the relatively high 312 days on market indicates slower sales velocity.

With a median listing price of $2,450,000, there is a notable gap between asking and selling prices, which may indicate pricing friction as sellers adjust expectations. The rental market remains strong, with a median market rent of $3,260, supported by ongoing local economic growth and job creation, further enhancing the area's appeal to potential buyers and renters alike.

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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 Chicago are approximately 6.15% compared to an average of 5.50% in early 2026, representing a 0.65% increase for property owners.

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 median sold price of $1,795,000 suggests strong market performance despite elevated inventory levels.

2. The median days on market of 312 indicates slower sales velocity, which may affect buyer urgency and seller strategies.

3. With a median listing price of $2,450,000, there is a significant pricing gap that may create friction in negotiations.

4. The rental market is performing well with a median market rent of $3,260, reflecting growing demand for rental properties.

5. Market temperature is currently neutral, indicating a balanced market with no clear advantage for buyers or sellers.

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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.