Today a woman called me about selling her condo in Forest Park. It’s at The Residences of The Grove, a newer condo development just north of I-290 and next to the Blue Line.
As I’ve written before, I think the portion of Forest Park north of I-290 has a lot going for it. Homes in most of that area are walking distance to both downtown Forest Park and downtown Oak Park. There are plenty of transportation options with I-290, the Metra, Green Line and Blue Line.
The same can be said of the area of Oak Park just east of Forest Park. However, housing in that area is definitely more expensive! The median sale price for northern Forest Park condos for the past 3 months was $149,900.* In the neighboring part of Oak Park it was $179,000, 19% higher. The difference for houses is far greater! The median northern Forest Park house sale price was $236,250. In the neighboring part of Oak Park it was $416,500, 76% higher!
*Based on Midwest Real Estate Data LLC (MRED) Data.
ABOUT THE AUTHOR
Fran Bailey shows, previews and tracks downtown Chicago homes for sale giving her the insights needed to help her clients negotiate the best price and terms. Fran has been quoted in numerous Chicago and national publications. To schedule showings of listings regardless of broker or to contact Fran email her at fran.bailey@bairdwarner.com or call 773.793.4516. Learn More
Fran Bailey, Realtor
{ 2 comments… read them below or add one }
Yes, homes are more expensive in Oak Park than Forest Park. However, they are even more expensive in Forest Park’s neighbor to the north, River Forest. My husband and I looked at homes there 5 years ago and were shocked at the prices.
Hi Ann,
What you wrote is very true for houses. The median sale price for houses in River Forest for the past 3 months was $690,000. It’s not as clear for condos with $131,674 as the median for the past 3 months. However, that was based on only 7 sales. River Forest is predominately a house market.