Chicago, IL 60641 Real Estate Market Report

ZIP Code: 60641
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 60641 area are averaging approximately 6.4%, reflecting a stable market environment for property owners compared to earlier 2026 levels.

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 value indicator is the median sold price 434,000, which reflects recent transaction activity and aligns with a up price year-over-year trend.

2. There is a notable pricing spread between the median listing price 389,900 and the median sold price 434,000, which may indicate seller concessions, negotiated premiums, or that asking prices in the sample are not fully capturing closed-sale outcomes.

3. Liquidity appears slower: the median days on market 308 suggests extended sales timelines despite a neutral market temperature, and the sample shows relatively constrained active supply that may contribute to pricing friction; interest rate pressure is elevated which could further dampen buyer urgency.

4. Market rent fundamentals show a median market rent 1,850 with a up rent year-over-year trend, while mortgage financing in the area is averaging approximately 6.4% for a 30-year fixed—factors to monitor for investor appetite and rental demand stability.

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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 60641 Real Estate Market Report

ZIP Code: 60641
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

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 60641 area are averaging approximately 6.4%, reflecting a stable market environment for property owners compared to earlier 2026 levels.

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-value signal is the median sold price $210,000, which—supported by a up price year-over-year trend—indicates modest appreciation and that recent transactions are setting the baseline for pricing decisions.

2. Liquidity measures show slower sales velocity: the median days on market 339 is long relative to typical turnover expectations and, paired with the analyzed sample’s characterization of relatively constrained active supply, suggests pricing friction and moderate transaction volume rather than rapid bid-driven turnover.

3. Rental fundamentals remain supportive: the median market rent $1,700 is rising with a up rent year-over-year trend, while elevated financing costs—with local 30-year fixed rates averaging 6.4%—create elevated interest-rate pressure that may temper buyer affordability and prolong negotiation cycles.

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