What Chicago Neighborhoods Made the 'Hottest Housing Markets' List?
Nine South Side neighborhoods and four North Side neighborhoods made the Crain’s Chicago Business list of hot Chicago housing markets for the first half of the year. Neighborhoods that made the list had more homes sold, an increased median home sale price, and homes spent less time on the market compared to the same time last year.
Here are the 13 neighborhoods that made the list.
Auburn-Gresham
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Auburn-Gresham, a South Side neighborhood sandwiched between the Dan Ryan Expressway and Dan Ryan Woods, has a large collection of single-family homes, as well as attached homes. The neighborhood has three big parks—Dawes Park, O’Hallaren Park, and Foster Park—and a few smaller greenspaces. The median home sale price in the neighborhood is $91,200, according to Neighborhoods.com.
Avalon Park
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Avalon Park, along with many of the other neighborhoods on the “hot list,” is seeing increased interest from home rehabbers and flippers. This South Side neighborhood is relatively small, but it houses the Avalon Park Fine & Performing Arts School, and it has its own Chicago Public Library Branch. The median sale price in Avalon Park is $111,500.
Bridgeport
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Bridgeport, home of the Chicago White Sox, is one of the pricier neighborhoods on the Crain’s list with a median sale price of $364,000. The neighborhood is home to several parks and a solid collection of eateries along 31st Street and Halsted Street.
Calumet Heights
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The southeastern tip of Calumet Heights rests right on the banks of the Calumet River. The neighborhood, served by the Metra and CTA, mostly has two-flats and single-family homes, but there are some condos, thanks to newer development. Homebuyers will find a median sale price of $144,000 in Calumet Heights.
East Side
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Right on Lake Michigan and 13 miles outside of downtown Chicago, East Side shares a border with Indiana. The neighborhood’s location means a low median home sale price ($124,000) and plenty of access to greenspace. Spend time in Beniac Greenway Park, the neighborhood’s linear park, or Calumet Park, a nearly 200-acre park located right on the lake.
Edison Park
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New-construction homes are a significant factor in increasing median prices in Edison Park, according to Crain’s. Right now, the median home sale price in the neighborhood is $347,500. The neighborhood has its own Metra stop and several parks, including the 10-acre Olympia Park.
Gage Park
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Located near Midway International Airport, Gage Park is known as a family-friendly community. The neighborhood has a several parks, including Gage Park, Senka Park, Oakley Park, and Little Venice Park. The median sale price in Gage Park is $145,000.
Jefferson Park
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Jefferson Park is one of a handful of North Side neighborhoods that made Crain’s list of hot housing markets in the city. The neighborhood has high accessibility with multiple Metra stops and its own CTA Blue Line station. The northern edge of Jefferson Park is bordered by the Thaddeus S. “Ted” Lechowicz Woods, and the neighborhood’s median sale price is $289,950.
North Park
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North Park, right next door to Jefferson Park, is a sprawling North Side neighborhood characterized by acres of greenspace. The community encompasses Bohemian National Cemetery, LaBagh Woods, North Park Village Nature Center, and several parks. Similar to its neighbor Jefferson Park, the median sale price in North Park is $295,000.
Norwood Park
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Norwood Park, located west of Jefferson Park, has a slightly higher median sale price of $307,000. Dog owners will love the Norwood Park Dog Friendly Area, while families with kids will love the easy access to Norwood Park Elementary School.
Roseland
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Roseland is a commuter’s dream with access to I-57, I-94, the CTA Red Line, and multiple Metra stops along the eastern edge of the neighborhood. The large neighborhood includes a number of “pocket” communities within it, such as Fernwood and Rosemoor. The median sale price in the community is $75,000.
West Englewood
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West Englewood is a smaller neighborhood in the larger community of Englewood. Rehabbers are showing an increased interest in the neighborhood, helping propel it onto Crain’s list. The neighborhood is located right along the Dan Ryan Expressway and the CTA Red Line, making it highly accessible. The median sale price in Englewood is $31,500.
West Pullman
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West Pullman, located on the Far South Side, has an affordable array of homes ranging from single-family to attached homes. The neighborhood has a solid collection of parks—including Cooper Park and West Pullman Park—and a southern border that runs right along the Little Calumet River. The median sale price for homes in West Pullman is $61,800.