- Kenilworth’s 60043 is #1 most expensive zip code in Illinois
- Three of the top five zips, 60093, 60022 and 60045, have claims to Hollywood fame
- The Windy City has the highest number of expensive zip codes, grabbing 16 spots in our top 50
Although Illinois didn’t break into the top 100 most expensive zip codes in the U.S., the state’s residential market performed well in 2016, with enclaves of affluence Kenilworth and Winnetka ranking at the top of high-priced sales. As is the case with many other parts of the US, Illinois saw strong consumer demand paired with tight inventory. 2016 closed with a 15.7 percent contracted inventory compared to December 2015, according to Illinois REALTORS. While a low housing stock deterred some potential buyers, it also spelled good news for sellers, who saw the average time spent on the market descend from 74 days to 66, per the same source.
Despite tight inventory, sales volume increased throughout the year, ending 2016 with 116,500 transactions – a 4.3 percent increase over 2015. Sales prices also ticked up, reaching a median $184,000 and marking a 6.4 percent gain over 2015.
Comparatively, Illinois’ most expensive zip code, 60043, posted a median sale price of $1,212,500 – 6.5 times that of the state median. Kenilworth’s reign as most expensive zip code in Illinois isn’t surprising, as this pricey Chicago suburb has been the queen bee of North Shore communities for years.
Another affluent community of the North Shore, Winnetka’s, 60093 was the second most expensive Illinois zip code in 2016. The median home price in Danny and Tess Ocean’s hometown clocked in at a cool $890,000 last year. Winnetka, along with many of the affluent suburbs of the North Shore, enjoyed a lot of on-screen exposure, especially during the ‘80s, as the setting for a number of high-profile teen movie classics, such as Sixteen Candles, The Breakfast Club and Ferris Bueller’s Day Off. And while Glencoe’s New Trier Township High School got a bad rap in Mean Girls, the institution is actually considered the 17th best high school in America – how fetch!
The third most expensive zip code in Illinois, Glencoe’s 60022, was also a favorite of North Shore native John Hughes. The median sale price here hit a cool $882,500 in 2016.
Although its most expensive zip, 60603, only made it to the sixth spot with a median sale price of $702,500, Chicago contains the highest number of expensive zip codes in Illinois. The Midwest’s most populous city is home to 16 of the most expensive zip codes in the state. Chicago was also the setting for the largest residential transaction in Illinois. Sold in early July, 11 E Walton Street unit 5200 fetched $11,700,000. The biggest residential deal of the year is located in the Waldorf Astoria Residences, one of the most exclusive developments in Chicago’s Gold Coast neighborhood. The 4-bedroom, 4.5-bathroom, full floor condo unit features a complete custom build-out, several private terraces, a fireplace, wet bar, spa bath, home theater and wine cellar. It also comes with three parking spots and access to the building’s high-end amenities, like the 14,000-square-foot high-end spa, indoor pool and concierge services.
Check out the 50 most expensive zip codes in Illinois below:
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Methodology: In order to determine which were the most expensive ZIP codes in Illinois, we looked at all residential transactions closed in 2016, taking into account condo, co-op, single- and the two-family homes. All package deals were excluded.