Chicago Condos vs. Single-Family Homes: What's the Best Home Type for You?

Chicago is a city of neighborhoods. In the heart of the city, unquestionably the Loop, and the neighborhoods that orbit it, you are more likely to find attached homes. Glassy high-rise condo buildings are the norm at the city center.

As you move further out from downtown, the city has more room to sprawl. You can still find those high rises, particularly near the lake, but you will also find more low-rise condo buildings, two-flats, townhomes, and single-family homes.

When you start shopping for a home, deciding between a search for the perfect condo or ideal single-family home is a good place to start.

Condos vs. Single-Family Homes

Answer some questions to determine if you are in the market for a condo or a single-family home.

Price

What does your budget look like? Typically, attached homes, like condos, will have a lower price tag than unattached homes. This of course, depends on a number of factors: the location of the home, the age of the home, the size of the home, and the included amenities.

If you have a lower price point but your heart is set on buying a single-family home, don’t lose hope. Just know where to focus your search. For example, Chicago’s Far North and Far South sides have plenty of single-family homes with reasonable price tags.

On the other hand, those looking for luxury do not necessarily need to confine their search to single-family homes. Chicago has a substantial market for luxury condos, and you can find plenty of attached homes with the posh style you want.

Size

How much space do you want in your new home? The types of single-family homes in Chicago range from huge (mansions) to cozy (bungalows and worker’s cottages). Two- and three-flats offer a nice middle ground.

Of course, luxury condo penthouses can give unattached homes a run for their money, but attached homes tend to be smaller. If you put a premium on space, particularly if your idea of a home includes having a yard, you are likely looking for a single-family home.

Lifestyle

What do you imagine life looking like at home? Do you like the idea of an easy-to-maintain home close to work and bountiful nightlife? In that case, a condo is a natural fit.

Do you have a family, or are you thinking about starting a family? The city certainly has condos to accommodate parents and kids, but many families want a more residential feel for their home—complete with a yard and a garage. This type of homebuyer will likely be more interested in an unattached home. 

Neighborhoods for Condo Buyers

Many Chicago neighborhoods have a blend of home types, but if you are looking for a concentration of condos, these three neighborhoods are worth considering.

Bronzeville

The South Side neighborhood of Bronzeville offers an easy commute to downtown offices and a reasonable median home sale price of $260,000, according to neighborhoods.com data. As a denser neighborhood close to the Loop, Bronzeville naturally has a proliferation of attached homes. You may find some more vintage style condos (the neighborhood does have construction dating back to the mid-1800s), or you could look for brand new construction.

Lakeview 

Lakeview is one of the city’s larger neighborhoods, encompassing a sizable chunk of the city’s North Side. If you are looking for a condo with a killer view, the long lakefront portion of this neighborhood is a good place to start.

As you move into the interior of the neighborhood, you will find more of a mix of home styles and prices. Lakeview is a popular neighborhood due to its waterfront access, entertainment scene, and proximity to downtown. The median home sale price in Lakeview is in the high $300s.

West Loop

If Chicago has a single “it” neighborhood, the West Loop might just claim the title. Developers are clamoring to plant a flag in the neighborhood, which is one of the city’s hottest spots for dining out.

The majority of homes here are attached, and you will see plenty of brand new, luxury condos. As such a popular spot, the homes do tend to have a higher asking price in this neighborhood. The median home sale price in the West Loop is just under $400,000.

Neighborhoods for Single-Family Homebuyers

For the homebuyer with the vision of a single-family home, a yard, and maybe even a porch, these three neighborhoods are calling your name.

Beverly

Beverly, located on the South Side of the city, is known for its open space and beautiful single-family homes, many dating back to the Victorian time period. Famous architects, including Frank Lloyd Wright, have left their mark on Beverly.

Residents of this neighborhood have all the benefits of a tight-knit community without even leaving the city. Expect to see block after block of houses with yards. Homebuyers will find a reasonable median home sale price in the mid-$300s in this neighborhood.

Irving Park

The northwestern neighborhood of Irving Park started out as a suburb before becoming a part of the city. As such, much of the early development remains today. You can find historic single-family homes with expansive front porches and sizeable lawns. The large size of the neighborhood and variance of home sizes and ages leads to a pretty wide price range. The median home sale price is in the high $300s, but you can likely find a single-family home that fits your budget.

Edison Park

Edison Park is on the northern edge of the city, and like many far-flung neighborhoods, you will find more space for single-family homes here. While some new development is starting to come to the neighborhood, it remains closely tied to its history. Many homes in Edison Park date back to the late 1800s. Homebuyers can find grand homes pushing the $1 million price point and more reasonability priced and sized options. The median home sale price here is in the high $300s.