Prices of houses for sale in downtown Chicago depend a lot on which downtown neighborhood they are located. You can find houses for less than $1M in Old Town. In the Gold Coast prices start slightly above $1M. In River North expect to pay above $1,750,000, unless you can find a distressed (short sale or foreclosure) sale. Most houses in those the Gold Coast and River North are priced between $2M and $5M. There are no houses in Streeterville or the Loop.
In 2012 the median sale price was $2,000,000. In 2011 and 2010 it was $1,575,000 and $1,950,000.* Almost all downtown Chicago houses have at least 3,000 SF. Most will fall in the range of 4,000 SF 7,000 SF. In River North most houses have more than 7,000 SF. Lot sizes range from tiny for row houses to oversized for mansions.
The ages of the homes are at the 2 extremes. They’re either less than 20 years old or over 70 years old with many built before 1900. River North has predominately very new houses. Most are less than 10 years old. The Gold Coast has a lot of vintage homes. There are a few new construction opportunities. Styles follow the ages of the homes, either contemporary or vintage. You won’t find any mid-century ranch homes, split-levels or Colonials here!
Chicago Houses For Sale
Most downtown Chicago homes have a garage. Multi-car garages are common in River North. In the Gold Coast with so many vintage homes you’re the most likely to encounter houses without a garage. There are also many with only a one car garage. Houses in Old Town typically have 2 car garages.
The number of choices of downtown Chicago houses for sale has been fairly stable for the last couple of years. In the 2nd quarter of this year there 66 downtown Chicago houses for sale, up 2 houses more than year ago and up 3 more than 2 years ago. If you’re considering selling your downtown Chicago home, contact me for a free market analysis.
HOUSES FOR SALE IN DOWNTOWN CHICAGO
Click below to see Downtown Chicago houses for sale by price range.
|$4M & Above||$3M to $5M||$2M to $3M||$2M & Below|
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* based on Midwest Real Estate Data (MRED)