Chicago - Statistics and Home Trends

Learn More About Chicago, Illinois

Currently there are 9,541 homes for sale, 3,953 condos and apartments for sale, 750 vacant land for sale, 2 villa for sale and 235 townhomes for sale in Chicago

Background on Chicago
Chicago is located on the shores of Lake Michigan and is the third most highly populated city in the United States. The population as of 2017 was just under 2.8 million. Chicago is located in Cook County which is also the second most highly populated county in all of the United States. If you look at the entire Chicago Metro area, which is referred to as “Chicagoland” you will find that more than 10 million people live here. The Chicago Metro area is the third largest metro area in the United States. It is also the fourth largest metro area in all of North America and is the third largest metro area in the entire world based off of land area. The town was incorporated back in August of 1833 and the city was incorporated in March of 1837. Chicago was the second most visited city in the United States when more than 55 million people visited the city in 2017. New York beat Chicago by 7 million visitors. Back in 2016 Chicago ranked sixth as one of the most walkable cities in the United States. This is due in part to the large grassy areas and trees that beautifully line the streets and sidewalks. Chicago is truly one of the most beautiful places to live in the United States!

Climate in Chicago
Chicago experiences all four seasons throughout the year. The climate here in Chicago is what is known as a humid continental climate. The summers are often times very hot and humid. The temperatures during the summer months can easily creep up into the mid to high 90’s. The winter months tend to be a little colder than other places in the country. During the winter months temperatures can fall to below freezing overnight. Snow is a common occurrence here as well during the winter. Fall and Spring here in Chicago both tend to be very mild and not last very long. The weather here goes from extreme heat during the summer to extreme cold during the winter. Regardless of that fact, people still love living here because of all the city has to offer.

Real Estate in Chicago
The market here in Chicago is very hot right now. You can find everything from older homes full of character to high rise apartments, condos, townhomes as well as single family homes. There is also a lot of new construction happening in Chicago right now. Prices vary from neighborhood to neighborhood. If you are looking for a cheaper home you might want to take a look in a more suburban area on Chicago. If you want the city feel and have the money, take a look at the River North Gallery District. This neighborhood is located on the North side of Chicago and features many restaurants, clubs and shops. If you want to live right near all the action, this area is perfect for you!

Recreation in Chicago
There is plenty to do here in Chicago; it all depends on what you are looking for. If you want to check out one of the most historic and notable places in Chicago, head over to the Willis Tower which was formally known as the Sears Tower. Most people to this day still refer to this 110 story building as the Sears Tower. The Willis Tower is the second tallest building in the United States. If you want to see Chicago from all the way up in the sky then take a trip to The Willis Tower observation deck which is also referred to as the Skydeck. It opened back in 1974 and has since had a face life. In 2009 construction began and in July of 2009 Skydeck was reopened with the addition of “The Ledge.” “The Ledge” is an all glass box that visitors can stand in if they are daring enough. Not only are the walls made of glass, but the floor is as well. This gives visitors the opportunity to view the street from nearly 1,400 feet below them. This isn’t for the faint of heart!

Ribfest Chicago
Chicago is known for many things but one of the biggest events that takes place here in Chicago is Ribfest. This event is a barbecue lovers dream! When the event started in the 90’s there were only a few vendors. Fast forward to today and there more than thirty vendors involved. This event is a must during the summer months if you live in Chicago.

Summary
Chicago is a heavily populated area with some of the most beautiful real estate available. If you want to live somewhere that experiences all four seasons, make sure to check out Chicago!

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Currently Chicago has 15,568 properties on the market for sale. The inventory was last updated 07/09/2020. Of these properties, 9,541 single family homes are for sale by their owners in Chicago, and 3,953 condos are for sale by their owners in Chicago. The average price of the single family homes for sale in Chicago, is $921,563, the average condo price in Chicago, is $1,132,833. The average price per square foot of the active inventory is $325. This is based the living area square footage.

Over the last year, there have been 409,974 of properties sold in Chicago. Of these properties, 365,407 single family homes have sold by their owners in Chicago, and 32,223 condos have sold by their owners in Chicago. The average sales price of the single family homes sold in Chicago, is $392,807. Single family homes have been selling for 308 per square foot of living area. The average sales price of the condos for sale in Chicago, is $939,932. Condos have been selling for 428 per square foot of living area.

The most active subdivisions with listings for sale in Chicago, are: Trump Tower Chicago (65 For Sale), Lake Point Tower (18 For Sale), Park Place Tower (16 For Sale), University Commons (13 For Sale), Sauganash (12 For Sale), Grand Ohio (11 For Sale), Harbor Point (10 For Sale), Sandburg Village (9 For Sale), Olympia Centre (9 For Sale), Regatta (9 For Sale)

If you are thinking of selling your Chicago home, try our flat fee listing service, Our list fees start at $449, and may save you $15,000 in real estate commissions. Click here to start saving.

Disclaimer: Listing broker has attempted to offer accurate data, but buyers/lessees are advised to confirm all information IDX information is provided exclusively for consumers' personal, non-commercial use that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that data is deemed reliable but is not guaranteed accurate by the MLS. The MLS may, at its discretion, require use of other disclaimers as necessary to protect Participants and/or the MLS from liability.
This data up-to-date as of 07/09/2020

Chicago Golf Course Homes For Sale By Owner

MLS Chicago IL Apartments and Homes For Sale (1)

Other Chicago IL Apartments and Homes For Sale (219)

Chicago - Statistics and Home Trends