Chicago, IL 60641 Real Estate Market Report

ZIP Code: 60641
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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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, IL 60641 are averaging 6.50% compared to approximately 5.80% in early 2026.

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. $425,000 median sold price remains the most reliable valuation signal and indicates recent transaction levels are below prevailing asking prices, which may suggest pricing friction between sellers and buyers.

2. $489,500 median listing price vs. actual sales implies sellers are listing above realized market values, and agents should emphasize comp-driven pricing to avoid extended marketing periods.

3. 290 median days on market signals slower sales velocity; sellers should expect longer exposure and consider staged pricing or targeted concessions to accelerate transactions.

4. $1,827 median market rent is rising alongside rents up year-over-year, supporting buy-and-hold strategies for investors focused on income, subject to financing costs.

5. Interest-rate dynamics showing 6.50% current 30-year averages (versus 5.80% earlier in 2026) introduce moderate upward pressure on financing costs, which may temper buyer purchasing power and require more conservative underwriting.

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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.