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Chicago Residential Real Estate Market

The document provides an overview of the Chicago residential real estate market, highlighting its major neighborhoods, demographic trends, and unique features. Chicago is the third largest city in the U.S., offers diverse communities, and has various real estate options from single-family homes to condos. The presentation includes data on neighborhood characteristics, property statistics, and notable local attractions, making it an informative resource for potential investors.

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CHICAGO RESIDENTIAL MARKET MARKET
Have you ever considered investing in the Chicago Residential Real Estate Market? Do you know why Chicago is such a great place to invest in? This presentation will provide you, the investor with information about Chicago and its neighborhoods using market data and statistics from the National Association of Realtors, Midwest Real Estate Data, LLC and etc.
Chicago is the 3rd largest city in the United States.
According to the 2000 census Chicago has a population of 2,896,016 people.
In 2006, there were 2,833,321 people in living in Chicago. There was a -2.2% decrease in the population from 2000 to 2006.
Chicago is the largest city in Illinois. Chicago is the seat of Cook County.
Cook County is the second largest county in the United States after Los Angeles County.
Chicago makes up approximately 54% of Cook County‟s population.
Chicago extends : more than 20 miles along the Lakefront stretches North to the Wisconsin border stretches South to the industrial suburbs and to the Indiana border
Chicago is partitioned into 4 main sections: -Downtown -Loop -Central Business District -North Side -South Side -West Side
Downtown covers 33 square miles is known as “The Loop.” The nickname refers to the area encircled by the elevated („L‟) train tracks. Downtown looks great from every angle whether you are shopping, sightseeing or doing business.
Downtown has some of the largest attractions in the US and the World.
The Art Institute of Chicago has one of the largest and most extensive collections of Impressionist and Post- Impressionist paintings in world.
The Chicago Cultural Center is the first free municipal cultural center in the U.S.
Harold Washington Library Center is the world‟s largest municipal library.
The Willis Tower (formerly Sears Towers) is the tallest building in the Western Hemisphere at 110 stories high.
McCormick Place is largest convention center in North America
Some of the largest employers have headquarters in Chicago such as : Boeing Sara Lee CNA Financial Corp. Aon Corp. Kraft Foods Inc.
Chicago hosts several major financial and futures exchanges : The Chicago Stock Exchange The Chicago Board of Trade The Chicago Mercantile Exchange
South Side Extends south of Downtown along Lake Michigan Largest section of the encompasses 60% of the city Most of industrial businesses are located on the South side
West Side Extends west of Downtown There are many parks on the West Side including Douglas Park, Garfield Park, and Humboldt Park. Garfield Park Conservatory has one of the largest collections of tropical plants in the U.S.
North Side Extends north of downtown along the Lakefront Most populated residential section of the City Public parkland and beaches stretching for miles along Lake Michigan to the city's northern border
There are 77 distinct communities in Chicago. There are 228 named neighborhoods within these communities. Chicago has some of the most diverse communities in the United States. Every neighborhood has its own characteristics and uniqueness.
A South side neighborhood with plenty of cultural history . Many of the buildings date back to the 1920s and are currently being restored There are plenty of beautiful old greystones with a mixture of new construction condos, townhouses and single family homes.
250 212 200 150 Active 100 51 Sold 50 38 35 26 Under Contract 10 10 4 9 0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
$350,000 $300,000 $250,000 $200,000 Active $150,000 Sold $100,000 Under Contract $50,000 $0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
Albany Park is a neighborhood located on the Northwest side of Chicago. It is both a residential and commercial neighborhood and one of the most ethnically diverse in the United States.
200 164 150 94 Active 100 76 Sold 50 27 25 Under Contract 16 14 6 11 0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
$400,000 $350,000 $300,000 $250,000 $200,000 Active $150,000 Sold $100,000 Under Contract $50,000 $0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
East Garfield Park is known for the Garfield Park Conservatory which is one of the largest and most notable conservatories in the U.S. East Garfield Park has a mixture of single-family homes and a considerable amount of multi-unit residences and condos.
120 101 100 87 80 Active 60 Sold 40 31 23 22 Under Contract 20 5 8 10 3 0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
$250,000 $200,000 $150,000 Active $100,000 Sold $50,000 Under Contract $0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
Originally planned as a Chicago suburb Irving Park is commercial district that provides a good selection of specialty shops and independent businesses. A northwest side community which consist mostly of two- and three-flat condo buildings, single-family houses and many bungalows.
250 233 200 159 150 123 Active 100 Sold 50 28 21 32 37 Under Contract 17 19 0 Single Homes Condos Multiple Unit Bldgs. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
$450,000 $400,000 $350,000 $300,000 $250,000 Active $200,000 $150,000 Sold $100,000 Under Contract $50,000 $0 Condo Single Family Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
Jefferson Park is a neighborhood where homebuyers will find an assortment of real estate from modern condominiums to Victorian houses. Jefferson Park is a northwest neighborhood in Chicago with easy access to the Kennedy and the Edens Expressway.
120 107 100 80 60 Active 60 50 Sold 40 23 28 20 11 Under Contract 5 6 6 0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
$450,000 $400,000 $350,000 $300,000 $250,000 Active $200,000 $150,000 Sold $100,000 Under Contract $50,000 $0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
Logan Square is a mixture of old mansions along Logan and Kedzie boulevards. Logan Square located on the Northwest Side of Chicago has one of the most diverse mixture of homeowners, shops, restaurants and real estate. Logan Boulevard, Kedzie Boulevard and Humboldt Boulevard are lined with large brick and stone houses, old mansions and modern condominiums.
400 371 350 300 250 187 Active 200 174 Sold 150 90 Under Contract 100 52 50 26 25 25 34 0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data ,LLC (MRED) as of May 3, 2009
$800,000 $700,000 $600,000 $500,000 $400,000 Active $300,000 Sold $200,000 Under Contract $100,000 $0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3,2009
Lincoln Square is located within the Ravenswood area Lincoln Square circles the Lawrence/Lincoln/Western commercial district. There are more brick and stone, two- and three-flat buildings than single family homes in Lincoln Square.
300 269 250 200 Active 150 Sold 100 77 64 44 52 Under Contract 50 14 12 10 4 0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3,2009
$800,000 $700,000 $600,000 $500,000 $400,000 Active $300,000 Sold $200,000 Under Contract $100,000 $0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
Washington Park is a South Side neighborhood in Chicago. It includes 372 acre of park named “Washington Park”. The park is the proposed site of the Olympic Stadium and the Olympic Aquatics Center in Chicago bid to host the 2016 Summer Olympics. Washington Park links Jackson Park by the Midway Plaisance which stretches along the lakefront to Hyde Park and South Shore neighborhoods.
100 87 80 60 Active 40 Sold 25 Under Contract 20 12 8 5 7 7 2 1 0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3,2009
$400,000 $350,000 $300,000 $250,000 $200,000 Active $150,000 Sold $100,000 Under Contract $50,000 $0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
Woodlawn is a South Side community conveniently located near scenic parks, the lakefront and the University of Chicago campus. Affordable single-family homes and condominiums are in abundance for many University of Chicago students, couples and young families.
200 145 150 89 Active 100 Sold 50 27 23 33 25 32 Under Contract 7 3 0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
$250,000 $200,000 $150,000 Active $100,000 Sold $50,000 Under Contract $0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data,LLC (MRED) as of May 3, 2009
Bucktown is a Northwest Side neighborhood which consist of old architectural buildings with a mix of modern housing. Bucktown has newly constructed single-family homes, condo buildings and converted lofts found in many old factory buildings. Bucktown has plenty of entertainment, restaurants and shopping .
1000 837 800 600 Active 400 Sold 168 161 191 192 Under Contract 200 17 21 19 3 0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3,2009
$1,000,000 $800,000 $600,000 Active $400,000 Sold $200,000 Under Contract $0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
Wicker Park is a Northwest neighborhood in Chicago and located south of Bucktown. Wicker Park consist of newly constructed homes and condos as well as many renovated older homes. This rehabilitation has led to an increase in business activity-many new bars, stores and restaurants serving the growing number of shoppers, residents and visitors
1000 837 800 600 Active 400 Sold 168 161 191 192 Under Contract 200 17 21 19 3 0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data,LLC (MRED) as of May 3, 2009
$1,000,000 $800,000 $600,000 Active $400,000 Sold $200,000 Under Contract $0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data,LLC (MRED) as of May 3, 2009
The Near West Side is located west of the Chicago Loop The Near West Side is a thriving neighborhood of young working adults and first-time homeowners. New construction is taking place throughout the neighborhood due to its proximity to Downtown and the United Center New construction is causing rapid economic expansion in the area.
1000 864 800 600 Active 400 Sold Under Contract 200 158 140 33 7 8 36 7 7 0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
$700,000 $600,000 $500,000 $400,000 Active $300,000 Sold $200,000 Under Contract $100,000 $0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
Is 10 miles from the Loop on the city's north side and located west of Rogers Park. West Ridge consist mainly of single-family homes and many smaller two- and three-flat buildings. There has been a recent surge of homeowners renovating bungalows and other types of single family homes in this area.
140 117 117 120 100 80 80 72 61 Active 60 Sold 40 Under Contract 22 24 20 14 3 0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
$500,000 $400,000 $300,000 Active $200,000 Sold $100,000 Under Contract $0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
Chatham is a South side neighborhood that is easily accessible from the Dan Ryan Expressway. Chatham has a large number of long-time residents and seniors who enjoy the many types of single- family homes, business and parks. Chatham has a mixture of Victorians, Georgians, Tudors, older bungalows and custom-built townhomes and single-family homes. There are a few apartment buildings and condo conversions.
100 93 80 63 60 Active 40 28 30 32 Sold 20 15 17 Under Contract 7 2 0 SingleFamily Condo Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3,2009
200,000 150,000 Active 100,000 Sold 50,000 Under Contract 0 Single Family Condo Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
Chicago Lawn is a Southwest side neighborhood with a small residential area surrounded by busy commercial streets. The neighborhood consist mostly of single –family homes with a few low-rise apartment buildings. Chicago Lawn is known for its affordable housing Chicago Lawn is close to Midway Airport and is 20 minutes away from Downtown Chicago by public transportation, the Orange Line.
250 225 200 150 Active 111 100 Sold 65 69 35 43 Under Contract 50 14 2 0 0 Single Family Condo Multi-Unit Bldg. Information obtained from Midwest Real Estate Data,LLC (MRED) as of May 3, 2009
250,000 200,000 150,000 Active 100,000 Sold 50,000 Under Contract 0 Single Family Condo Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
North Park is located on the North side of Chicago. It is home to Northeastern Illinois University. Most of the homes in the area are either historic homes or bungalows. A few condos and townhomes attract local college students and young working professionals.
80 72 70 60 50 45 Active 40 Sold 30 20 17 Under Contract 13 10 8 6 9 8 10 0 Single Family Condo Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
450,000 400,000 350,000 300,000 250,000 Active 200,000 150,000 Sold 100,000 Under Contract 50,000 0 Single Family Condo Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
North Center has become increasing popular due to a mixture of dining, shopping and live entertainment in the area. North Center is a North side neighborhood in Chicago. North Center neighborhood has many historic homes and newly constructed houses along the Chicago river.
250 233 200 150 132 Active 100 77 Sold 57 58 50 37 29 Under Contract 11 5 0 Single Family Condo Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3,2009
1,200,000 1,000,000 800,000 600,000 Active 400,000 Sold 200,000 Under Contract 0 Single Family Condo Multi-Family Bldg. Information obtained from Midwest Real Estate Data,LLC (MRED) as of May 3,2009
Avondale is located on the Northwest side of Chicago and the home of DeVry Institute Avondale is easily accessible by the Kennedy Expressway and it located directly north of Logan Square . Avondale consist of mostly framed single family homes with some 2 flat apartment buildings and condos that are located near a variety of businesses.
160 139 134 140 120 100 Active 80 57 Sold 60 40 25 21 28 Under Contract 20 15 20 8 0 Single Family Condo Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3,2009
350,000 300,000 250,000 200,000 Active 150,000 Sold 100,000 Under Contract 50,000 0 Single Family Condo Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
West Ridge Year-to Year Average Sale Price 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 Multi-Family Single Family Condo Bldgs. 2008 322,250 224,092 391,750 2009 235,949 108,135 310,460 Information obtained from the National Association of Realtors (NAR)
Lincoln Square Year-to Year Average Sale Price 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 Multi-Family Single Family Condo Bldgs. 2008 709,807 292,437 558,667 2009 554,257 240,307 339,667 Information obtained from the National Association of Realtors (NAR)
North Center Year-to Year Average Sale Price 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 Multi-Family Single Family Condo Bldgs. 2008 803,983 359,967 474,167 2009 707,036 361,191 497,230 Information obtained from the National Association of Realtors (NAR)
Jefferson Park Year-to Year Average Sale Price 500,000 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 Multi-Family Single Family Condo Bldgs. 2008 317,500 324,000 476,000 2009 245,000 172,500 200,000 Information obtained from the National Association of Realtors (NAR)
North Park Year-to Year Average Sale Price 300,000 250,000 200,000 150,000 100,000 50,000 0 Multi-Family Single Family Condo Bldgs. 2008 230,000 160,000 0 2009 281,167 255,000 269,750 Information obtained from the National Association of Realtors (NAR)
Albany Park Year-to Year Average Sale Price 500,000 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 Multi-Family Single Family Condo Bldgs. 2008 405,500 220,947 434,000 2009 240,933 72,000 230,600 Information obtained from the National Association of Realtors (NAR)
Irving Park Year-to Year Average Sale Price 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 Multi-Family Single Family Condo Bldgs. 2008 384,333 213,765 337,475 2009 305,618 209,827 178,600 Information obtained from the National Association of Realtors (NAR)
Avondale Year-to Year Average Sale Price 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 Multi-Family Single Family Condo Bldgs. 2008 251,250 278,918 337,475 2009 322,167 293,100 178,600 Information obtained from the National Association of Realtors (NAR)
Logan Square Year-to Year Average Sale Price 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 Multi-Family Single Family Condo Bldgs. 2008 710,878 325,626 223,900 2009 811,250 293,615 274,500 Information obtained from the National Association of Realtors (NAR)
West Town Year-to Year Average Sale Price 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 Multi-Family Single Family Condo Bldgs. 2008 729,477 388,762 451,150 2009 652,389 372,225 300,556 Information obtained from the National Association of Realtors (NAR)
East Garfield Park Year-to Year Average Sale Price 300,000 250,000 200,000 150,000 100,000 50,000 0 Multi-Family Single Family Condo Bldgs. 2008 20,500 244,250 182,750 2009 183,000 40,042 87,693 Information obtained from the National Association of Realtors (NAR)
Near West Side Year-to Year Average Sale Price 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 Multi-Family Single Family Condo Bldgs. 2008 731,770 358,324 0 2009 190,000 333,779 350,000 Information of the National Association of Realtors (NAR)
Washington Park Year-to Year Average Sale Price 180,000 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 0 Multi-Family Single Family Condo Bldgs. 2008 0 163,429 0 2009 105,000 103,382 38,000 Information obtained by the National Association of Realtors (NAR)
Woodlawn Year-to Year Average Sale Price 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 0 Multi-Family Single Family Condo Bldgs. 2008 35,000 121,883 133,500 2009 119,000 96,465 36,986 Information obtained from the National Association of Realtors (NAR)
Chatham Year-to Year Average Sale Price 200,000 180,000 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 0 Multi-Family Single Family Condo Bldgs. 2008 173,251 31,000 190,000 2009 90,586 12,000 162,814 Information obtained from the National Association of Realtors (NAR)
Chicago Lawn Year-to Year Average Sale Price 200,000 180,000 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 0 Multi-Family Single Family Condo Bldgs. 2008 173,251 0 125,494 2009 90,586 0 71,313 Information obtained from the National Association of Realtors (NAR)
Bronzeville Year-to Year Average Sale Price 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 Multi-Family Single Family Condo Bldgs. 2008 161,667 181,334 0 2009 394,333 172,000 0 Information obtained from the National Association of Realtors (NAR)
Homeownership 6% 9% Prime Free & Clear 53% Subprime 32% FHA + VA Information obtained from the National Association of Realtors
Nationally: 32% of homeowners have their homes paid in full 53% have a prime mortgage 9% financed their home with a subprime loan 6% of homeowners have either a FHA or VA loan
Foreclosures by Loan 9% 37% Prime Subprime FHA + VA 54% Information obtained from the National Association of Realtors
Foreclosures by Loan: Subprime exposure is relatively small but yet subprime loans make up a substantial portion of foreclosure Subprime loans account for only 9% of homeowner mortgages, but they comprise 54% of foreclosure Subprime loan exposure is decreasing
Illinois 30% Prime Subprime FHA + VA 55% Free & Clear Homes 6% 9% Information obtained from the National Association of Realtors
Illinois 9% Subprime Prime 36% 55% FHA + VA Information provided from the National Association of Realtors
Foreclosure rate up 58% over last year
“According to Pew Charitable Trust predict that in the next 2 years, 1 in every 33 homes will be in foreclosure because of subprime loans made in 2005 and 2006”
Defaulting Subprime and Alt-A loans drove the first stage of the mortgage crisis The next stage of the mortgage crisis will be driven by defaulting Option ARMs and prime home loans Information obtained from Credit Suisse by WSJ
Types Of Loans Severely Under Water (as 09/08) 25% 65% Prime Jumbo Alt-A 40% Subprime Option ARM 48% Information provided by Credit Suisse from WSJ
Median Mortgage Monthly Payment Median Qualifying Priced Rate P&I as a % Family Income ** Existing Payment of Income Single Income Family Home Northeast 237,000 5.56 1,085 18.9 68,914 52,080 Midwest 138,400 5.62 637 12.3 61,978 30,576 South 159,300 5.56 728 15.7 55,553 34,944 West 159,300 5.60 998 18.8 63,806 47,904 2006 221,900 6.58 1,131 236 57,612 54,288 2007 217,900 6.52 1,104 22.4 59,224 52,992 2008 197,100 6.15 961 19.4 59,339 46,128 **Based on a 25% qualifying ratio for monthly housing expense to gross monthly income with a 20% down payment
92 90.3 90 88 86.52 86 85.63 Nov. 2008 84.6 84 Dec. 2008 82.00 Jan. 2009 82 80.4 Feb. 2009 80 Mar. 2009 78 Apr. 2009 76 74 Consumer Confidence Index
Miller Realty Services is a real estate company that offers commercial and residential real estate services to individuals and companies. The mission of Miller Realty Services is to make real estate services as hassle-free as possible while maintaining the highest level of customer service and ethics. Miller Realty Services provides the most accurate and current market data, expert market analysis and unparalleled real estate advice to its clients. Miller Realty Services strives to explore the most current technology and marketing ideas to make our company the best while maintaining industry standards. Contact Us at (866)808-0023 or send an email to lasheamiller@msn.com

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Chicago Residential Real Estate Market

  • 1.
  • 2.
    Have you everconsidered investing in the Chicago Residential Real Estate Market? Do you know why Chicago is such a great place to invest in? This presentation will provide you, the investor with information about Chicago and its neighborhoods using market data and statistics from the National Association of Realtors, Midwest Real Estate Data, LLC and etc.
  • 3.
    Chicago is the3rd largest city in the United States.
  • 4.
    According to the2000 census Chicago has a population of 2,896,016 people.
  • 5.
    In 2006, therewere 2,833,321 people in living in Chicago. There was a -2.2% decrease in the population from 2000 to 2006.
  • 6.
    Chicago is thelargest city in Illinois. Chicago is the seat of Cook County.
  • 7.
    Cook County isthe second largest county in the United States after Los Angeles County.
  • 8.
    Chicago makes upapproximately 54% of Cook County‟s population.
  • 9.
    Chicago extends : morethan 20 miles along the Lakefront stretches North to the Wisconsin border stretches South to the industrial suburbs and to the Indiana border
  • 10.
    Chicago is partitionedinto 4 main sections: -Downtown -Loop -Central Business District -North Side -South Side -West Side
  • 11.
    Downtown covers 33 square miles is known as “The Loop.” The nickname refers to the area encircled by the elevated („L‟) train tracks. Downtown looks great from every angle whether you are shopping, sightseeing or doing business.
  • 12.
    Downtown has someof the largest attractions in the US and the World.
  • 13.
    The Art Instituteof Chicago has one of the largest and most extensive collections of Impressionist and Post- Impressionist paintings in world.
  • 14.
    The Chicago CulturalCenter is the first free municipal cultural center in the U.S.
  • 15.
    Harold Washington LibraryCenter is the world‟s largest municipal library.
  • 16.
    The Willis Tower(formerly Sears Towers) is the tallest building in the Western Hemisphere at 110 stories high.
  • 17.
    McCormick Place islargest convention center in North America
  • 18.
    Some of thelargest employers have headquarters in Chicago such as : Boeing Sara Lee CNA Financial Corp. Aon Corp. Kraft Foods Inc.
  • 19.
    Chicago hosts severalmajor financial and futures exchanges : The Chicago Stock Exchange The Chicago Board of Trade The Chicago Mercantile Exchange
  • 20.
    South Side Extendssouth of Downtown along Lake Michigan Largest section of the encompasses 60% of the city Most of industrial businesses are located on the South side
  • 21.
    West Side Extends westof Downtown There are many parks on the West Side including Douglas Park, Garfield Park, and Humboldt Park. Garfield Park Conservatory has one of the largest collections of tropical plants in the U.S.
  • 22.
    North Side Extends north of downtown along the Lakefront Most populated residential section of the City Public parkland and beaches stretching for miles along Lake Michigan to the city's northern border
  • 23.
    There are 77distinct communities in Chicago. There are 228 named neighborhoods within these communities. Chicago has some of the most diverse communities in the United States. Every neighborhood has its own characteristics and uniqueness.
  • 24.
    A South sideneighborhood with plenty of cultural history . Many of the buildings date back to the 1920s and are currently being restored There are plenty of beautiful old greystones with a mixture of new construction condos, townhouses and single family homes.
  • 25.
    250 212 200 150 Active 100 51 Sold 50 38 35 26 Under Contract 10 10 4 9 0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
  • 26.
    $350,000 $300,000 $250,000 $200,000 Active $150,000 Sold $100,000 Under Contract $50,000 $0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
  • 27.
    Albany Park isa neighborhood located on the Northwest side of Chicago. It is both a residential and commercial neighborhood and one of the most ethnically diverse in the United States.
  • 28.
    200 164 150 94 Active 100 76 Sold 50 27 25 Under Contract 16 14 6 11 0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
  • 29.
    $400,000 $350,000 $300,000 $250,000 $200,000 Active $150,000 Sold $100,000 Under Contract $50,000 $0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
  • 30.
    East Garfield Parkis known for the Garfield Park Conservatory which is one of the largest and most notable conservatories in the U.S. East Garfield Park has a mixture of single-family homes and a considerable amount of multi-unit residences and condos.
  • 31.
    120 101 100 87 80 Active 60 Sold 40 31 23 22 Under Contract 20 5 8 10 3 0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
  • 32.
    $250,000 $200,000 $150,000 Active $100,000 Sold $50,000 Under Contract $0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
  • 33.
    Originally planned asa Chicago suburb Irving Park is commercial district that provides a good selection of specialty shops and independent businesses. A northwest side community which consist mostly of two- and three-flat condo buildings, single-family houses and many bungalows.
  • 34.
    250 233 200 159 150 123 Active 100 Sold 50 28 21 32 37 Under Contract 17 19 0 Single Homes Condos Multiple Unit Bldgs. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
  • 35.
    $450,000 $400,000 $350,000 $300,000 $250,000 Active $200,000 $150,000 Sold $100,000 Under Contract $50,000 $0 Condo Single Family Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
  • 36.
    Jefferson Park isa neighborhood where homebuyers will find an assortment of real estate from modern condominiums to Victorian houses. Jefferson Park is a northwest neighborhood in Chicago with easy access to the Kennedy and the Edens Expressway.
  • 37.
    120 107 100 80 60 Active 60 50 Sold 40 23 28 20 11 Under Contract 5 6 6 0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
  • 38.
    $450,000 $400,000 $350,000 $300,000 $250,000 Active $200,000 $150,000 Sold $100,000 Under Contract $50,000 $0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
  • 39.
    Logan Square isa mixture of old mansions along Logan and Kedzie boulevards. Logan Square located on the Northwest Side of Chicago has one of the most diverse mixture of homeowners, shops, restaurants and real estate. Logan Boulevard, Kedzie Boulevard and Humboldt Boulevard are lined with large brick and stone houses, old mansions and modern condominiums.
  • 40.
    400 371 350 300 250 187 Active 200 174 Sold 150 90 Under Contract 100 52 50 26 25 25 34 0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data ,LLC (MRED) as of May 3, 2009
  • 41.
    $800,000 $700,000 $600,000 $500,000 $400,000 Active $300,000 Sold $200,000 Under Contract $100,000 $0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3,2009
  • 42.
    Lincoln Square islocated within the Ravenswood area Lincoln Square circles the Lawrence/Lincoln/Western commercial district. There are more brick and stone, two- and three-flat buildings than single family homes in Lincoln Square.
  • 43.
    300 269 250 200 Active 150 Sold 100 77 64 44 52 Under Contract 50 14 12 10 4 0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3,2009
  • 44.
    $800,000 $700,000 $600,000 $500,000 $400,000 Active $300,000 Sold $200,000 Under Contract $100,000 $0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
  • 45.
    Washington Park isa South Side neighborhood in Chicago. It includes 372 acre of park named “Washington Park”. The park is the proposed site of the Olympic Stadium and the Olympic Aquatics Center in Chicago bid to host the 2016 Summer Olympics. Washington Park links Jackson Park by the Midway Plaisance which stretches along the lakefront to Hyde Park and South Shore neighborhoods.
  • 46.
    100 87 80 60 Active 40 Sold 25 Under Contract 20 12 8 5 7 7 2 1 0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3,2009
  • 47.
    $400,000 $350,000 $300,000 $250,000 $200,000 Active $150,000 Sold $100,000 Under Contract $50,000 $0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
  • 48.
    Woodlawn is aSouth Side community conveniently located near scenic parks, the lakefront and the University of Chicago campus. Affordable single-family homes and condominiums are in abundance for many University of Chicago students, couples and young families.
  • 49.
    200 145 150 89 Active 100 Sold 50 27 23 33 25 32 Under Contract 7 3 0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
  • 50.
    $250,000 $200,000 $150,000 Active $100,000 Sold $50,000 Under Contract $0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data,LLC (MRED) as of May 3, 2009
  • 51.
    Bucktown is aNorthwest Side neighborhood which consist of old architectural buildings with a mix of modern housing. Bucktown has newly constructed single-family homes, condo buildings and converted lofts found in many old factory buildings. Bucktown has plenty of entertainment, restaurants and shopping .
  • 52.
    1000 837 800 600 Active 400 Sold 168 161 191 192 Under Contract 200 17 21 19 3 0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3,2009
  • 53.
    $1,000,000 $800,000 $600,000 Active $400,000 Sold $200,000 Under Contract $0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
  • 54.
    Wicker Park isa Northwest neighborhood in Chicago and located south of Bucktown. Wicker Park consist of newly constructed homes and condos as well as many renovated older homes. This rehabilitation has led to an increase in business activity-many new bars, stores and restaurants serving the growing number of shoppers, residents and visitors
  • 55.
    1000 837 800 600 Active 400 Sold 168 161 191 192 Under Contract 200 17 21 19 3 0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data,LLC (MRED) as of May 3, 2009
  • 56.
    $1,000,000 $800,000 $600,000 Active $400,000 Sold $200,000 Under Contract $0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data,LLC (MRED) as of May 3, 2009
  • 57.
    The Near WestSide is located west of the Chicago Loop The Near West Side is a thriving neighborhood of young working adults and first-time homeowners. New construction is taking place throughout the neighborhood due to its proximity to Downtown and the United Center New construction is causing rapid economic expansion in the area.
  • 58.
    1000 864 800 600 Active 400 Sold Under Contract 200 158 140 33 7 8 36 7 7 0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
  • 59.
    $700,000 $600,000 $500,000 $400,000 Active $300,000 Sold $200,000 Under Contract $100,000 $0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
  • 60.
    Is 10 milesfrom the Loop on the city's north side and located west of Rogers Park. West Ridge consist mainly of single-family homes and many smaller two- and three-flat buildings. There has been a recent surge of homeowners renovating bungalows and other types of single family homes in this area.
  • 61.
    140 117 117 120 100 80 80 72 61 Active 60 Sold 40 Under Contract 22 24 20 14 3 0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
  • 62.
    $500,000 $400,000 $300,000 Active $200,000 Sold $100,000 Under Contract $0 Single Family Condos Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
  • 63.
    Chatham is aSouth side neighborhood that is easily accessible from the Dan Ryan Expressway. Chatham has a large number of long-time residents and seniors who enjoy the many types of single- family homes, business and parks. Chatham has a mixture of Victorians, Georgians, Tudors, older bungalows and custom-built townhomes and single-family homes. There are a few apartment buildings and condo conversions.
  • 64.
    100 93 80 63 60 Active 40 28 30 32 Sold 20 15 17 Under Contract 7 2 0 SingleFamily Condo Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3,2009
  • 65.
    200,000 150,000 Active 100,000 Sold 50,000 Under Contract 0 Single Family Condo Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
  • 66.
    Chicago Lawn isa Southwest side neighborhood with a small residential area surrounded by busy commercial streets. The neighborhood consist mostly of single –family homes with a few low-rise apartment buildings. Chicago Lawn is known for its affordable housing Chicago Lawn is close to Midway Airport and is 20 minutes away from Downtown Chicago by public transportation, the Orange Line.
  • 67.
    250 225 200 150 Active 111 100 Sold 65 69 35 43 Under Contract 50 14 2 0 0 Single Family Condo Multi-Unit Bldg. Information obtained from Midwest Real Estate Data,LLC (MRED) as of May 3, 2009
  • 68.
    250,000 200,000 150,000 Active 100,000 Sold 50,000 Under Contract 0 Single Family Condo Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
  • 69.
    North Park islocated on the North side of Chicago. It is home to Northeastern Illinois University. Most of the homes in the area are either historic homes or bungalows. A few condos and townhomes attract local college students and young working professionals.
  • 70.
    80 72 70 60 50 45 Active 40 Sold 30 20 17 Under Contract 13 10 8 6 9 8 10 0 Single Family Condo Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
  • 71.
    450,000 400,000 350,000 300,000 250,000 Active 200,000 150,000 Sold 100,000 Under Contract 50,000 0 Single Family Condo Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
  • 72.
    North Center hasbecome increasing popular due to a mixture of dining, shopping and live entertainment in the area. North Center is a North side neighborhood in Chicago. North Center neighborhood has many historic homes and newly constructed houses along the Chicago river.
  • 73.
    250 233 200 150 132 Active 100 77 Sold 57 58 50 37 29 Under Contract 11 5 0 Single Family Condo Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3,2009
  • 74.
    1,200,000 1,000,000 800,000 600,000 Active 400,000 Sold 200,000 Under Contract 0 Single Family Condo Multi-Family Bldg. Information obtained from Midwest Real Estate Data,LLC (MRED) as of May 3,2009
  • 75.
    Avondale is locatedon the Northwest side of Chicago and the home of DeVry Institute Avondale is easily accessible by the Kennedy Expressway and it located directly north of Logan Square . Avondale consist of mostly framed single family homes with some 2 flat apartment buildings and condos that are located near a variety of businesses.
  • 76.
    160 139 134 140 120 100 Active 80 57 Sold 60 40 25 21 28 Under Contract 20 15 20 8 0 Single Family Condo Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3,2009
  • 77.
    350,000 300,000 250,000 200,000 Active 150,000 Sold 100,000 Under Contract 50,000 0 Single Family Condo Multi-Unit Bldg. Information obtained from Midwest Real Estate Data, LLC (MRED) as of May 3, 2009
  • 79.
    West Ridge Year-toYear Average Sale Price 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 Multi-Family Single Family Condo Bldgs. 2008 322,250 224,092 391,750 2009 235,949 108,135 310,460 Information obtained from the National Association of Realtors (NAR)
  • 80.
    Lincoln Square Year-toYear Average Sale Price 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 Multi-Family Single Family Condo Bldgs. 2008 709,807 292,437 558,667 2009 554,257 240,307 339,667 Information obtained from the National Association of Realtors (NAR)
  • 81.
    North Center Year-toYear Average Sale Price 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 Multi-Family Single Family Condo Bldgs. 2008 803,983 359,967 474,167 2009 707,036 361,191 497,230 Information obtained from the National Association of Realtors (NAR)
  • 82.
    Jefferson Park Year-toYear Average Sale Price 500,000 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 Multi-Family Single Family Condo Bldgs. 2008 317,500 324,000 476,000 2009 245,000 172,500 200,000 Information obtained from the National Association of Realtors (NAR)
  • 83.
    North Park Year-toYear Average Sale Price 300,000 250,000 200,000 150,000 100,000 50,000 0 Multi-Family Single Family Condo Bldgs. 2008 230,000 160,000 0 2009 281,167 255,000 269,750 Information obtained from the National Association of Realtors (NAR)
  • 84.
    Albany Park Year-toYear Average Sale Price 500,000 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 Multi-Family Single Family Condo Bldgs. 2008 405,500 220,947 434,000 2009 240,933 72,000 230,600 Information obtained from the National Association of Realtors (NAR)
  • 85.
    Irving Park Year-toYear Average Sale Price 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 Multi-Family Single Family Condo Bldgs. 2008 384,333 213,765 337,475 2009 305,618 209,827 178,600 Information obtained from the National Association of Realtors (NAR)
  • 86.
    Avondale Year-to YearAverage Sale Price 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 Multi-Family Single Family Condo Bldgs. 2008 251,250 278,918 337,475 2009 322,167 293,100 178,600 Information obtained from the National Association of Realtors (NAR)
  • 87.
    Logan Square Year-toYear Average Sale Price 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 Multi-Family Single Family Condo Bldgs. 2008 710,878 325,626 223,900 2009 811,250 293,615 274,500 Information obtained from the National Association of Realtors (NAR)
  • 88.
    West Town Year-toYear Average Sale Price 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 Multi-Family Single Family Condo Bldgs. 2008 729,477 388,762 451,150 2009 652,389 372,225 300,556 Information obtained from the National Association of Realtors (NAR)
  • 89.
    East Garfield ParkYear-to Year Average Sale Price 300,000 250,000 200,000 150,000 100,000 50,000 0 Multi-Family Single Family Condo Bldgs. 2008 20,500 244,250 182,750 2009 183,000 40,042 87,693 Information obtained from the National Association of Realtors (NAR)
  • 90.
    Near West SideYear-to Year Average Sale Price 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 Multi-Family Single Family Condo Bldgs. 2008 731,770 358,324 0 2009 190,000 333,779 350,000 Information of the National Association of Realtors (NAR)
  • 91.
    Washington Park Year-toYear Average Sale Price 180,000 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 0 Multi-Family Single Family Condo Bldgs. 2008 0 163,429 0 2009 105,000 103,382 38,000 Information obtained by the National Association of Realtors (NAR)
  • 92.
    Woodlawn Year-to YearAverage Sale Price 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 0 Multi-Family Single Family Condo Bldgs. 2008 35,000 121,883 133,500 2009 119,000 96,465 36,986 Information obtained from the National Association of Realtors (NAR)
  • 93.
    Chatham Year-to YearAverage Sale Price 200,000 180,000 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 0 Multi-Family Single Family Condo Bldgs. 2008 173,251 31,000 190,000 2009 90,586 12,000 162,814 Information obtained from the National Association of Realtors (NAR)
  • 94.
    Chicago Lawn Year-toYear Average Sale Price 200,000 180,000 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 0 Multi-Family Single Family Condo Bldgs. 2008 173,251 0 125,494 2009 90,586 0 71,313 Information obtained from the National Association of Realtors (NAR)
  • 95.
    Bronzeville Year-to YearAverage Sale Price 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 Multi-Family Single Family Condo Bldgs. 2008 161,667 181,334 0 2009 394,333 172,000 0 Information obtained from the National Association of Realtors (NAR)
  • 97.
    Homeownership 6% 9% Prime Free & Clear 53% Subprime 32% FHA + VA Information obtained from the National Association of Realtors
  • 98.
    Nationally: 32% of homeownershave their homes paid in full 53% have a prime mortgage 9% financed their home with a subprime loan 6% of homeowners have either a FHA or VA loan
  • 99.
    Foreclosures by Loan 9% 37% Prime Subprime FHA + VA 54% Information obtained from the National Association of Realtors
  • 100.
    Foreclosures by Loan: Subprimeexposure is relatively small but yet subprime loans make up a substantial portion of foreclosure Subprime loans account for only 9% of homeowner mortgages, but they comprise 54% of foreclosure Subprime loan exposure is decreasing
  • 101.
    Illinois 30% Prime Subprime FHA + VA 55% Free & Clear Homes 6% 9% Information obtained from the National Association of Realtors
  • 102.
    Illinois 9% Subprime Prime 36% 55% FHA + VA Information provided from the National Association of Realtors
  • 103.
    Foreclosure rate up58% over last year
  • 104.
    “According to PewCharitable Trust predict that in the next 2 years, 1 in every 33 homes will be in foreclosure because of subprime loans made in 2005 and 2006”
  • 105.
    Defaulting Subprime andAlt-A loans drove the first stage of the mortgage crisis The next stage of the mortgage crisis will be driven by defaulting Option ARMs and prime home loans Information obtained from Credit Suisse by WSJ
  • 106.
    Types Of LoansSeverely Under Water (as 09/08) 25% 65% Prime Jumbo Alt-A 40% Subprime Option ARM 48% Information provided by Credit Suisse from WSJ
  • 108.
    Median Mortgage Monthly Payment Median Qualifying Priced Rate P&I as a % Family Income ** Existing Payment of Income Single Income Family Home Northeast 237,000 5.56 1,085 18.9 68,914 52,080 Midwest 138,400 5.62 637 12.3 61,978 30,576 South 159,300 5.56 728 15.7 55,553 34,944 West 159,300 5.60 998 18.8 63,806 47,904 2006 221,900 6.58 1,131 236 57,612 54,288 2007 217,900 6.52 1,104 22.4 59,224 52,992 2008 197,100 6.15 961 19.4 59,339 46,128 **Based on a 25% qualifying ratio for monthly housing expense to gross monthly income with a 20% down payment
  • 109.
    92 90.3 90 88 86.52 86 85.63 Nov. 2008 84.6 84 Dec. 2008 82.00 Jan. 2009 82 80.4 Feb. 2009 80 Mar. 2009 78 Apr. 2009 76 74 Consumer Confidence Index
  • 111.
    Miller Realty Servicesis a real estate company that offers commercial and residential real estate services to individuals and companies. The mission of Miller Realty Services is to make real estate services as hassle-free as possible while maintaining the highest level of customer service and ethics. Miller Realty Services provides the most accurate and current market data, expert market analysis and unparalleled real estate advice to its clients. Miller Realty Services strives to explore the most current technology and marketing ideas to make our company the best while maintaining industry standards. Contact Us at (866)808-0023 or send an email to lasheamiller@msn.com