Chicago, IL 60640 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

Market Trends & Context

Key Findings

1. The primary indicator of recent transaction value is the neighborhood's median sold price of $1,456,000, which represents the representative recent sale level for SFR and condominium properties and should be treated as the benchmark for valuation and pricing discussions (up on the price trend).
2. The market shows extended time-to-contract with a median days on market of 378, which indicates slower sales velocity and suggests pricing friction that may require seller concessions or longer listing exposure to reach contract.
3. Pricing density is high with a median price per square foot of $512, while rents are at a median market rent of $1,875 and the rent trend is up, implying rent growth is supporting valuation expectations even as per-square-foot pricing remains elevated.
4. Market-level indicators show a balanced market temperature (neutral) but with elevated interest rate pressure, which may temper buyer purchasing power and could moderate transaction volume despite upward price and rent trends.

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.