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Key Takeaways:

  • Chicago’s most expensive zip code (60603) has a median home price of $520,000
  • Ranking third, 60602 saw the largest y-o-y increase in median home prices—43%
  • At the end of October 2017, median home prices in Chicago reached $254,000

A previous PropertyShark study looking at the priciest zip codes in Illinois in 2016 showed that Chicago has the largest number of expensive zip codes in the state. That’s not surprising, given that properties in the Windy City often go for exorbitant prices—a 71st floor penthouse at The Legacy at Millennium Park fetched $6.2 million last year.

In 2017, the city’s residential market has been going slow and steady; median home prices in Chicago marked a modest 1.6% year-over-year increase, resting at $254,000 at the end of October. To get a better grasp of how the Chicago market fared this year, we zoomed in to see which are currently the city’s most expensive zip codes.

Keep reading to discover how median home prices have evolved in each zip code of the Windy City:

Most Expensive Zip Codes in Chicago
#1. Covering a small part of The Loop, 60603 is Chicago’s priciest zip code with a median home price of $520,000. Even though median prices in the area dropped 26% year-over-year, 60603 maintained its first spot on our list of most expensive zips, after also ranking first in 2016.

Last year the 60603 zip code landed on the first spot, with a median home price of $702,500. The inflated median price was strongly influenced by the large number of units that changed hands at The Legacy at Millennium Park.

The 72-story skyscraper located at 60 East Monroe St. accounted for over half of the total number of transactions closed in the area in 2016. The most expensive sale to close was for a penthouse on the building’s 71st floor, which sold for a dazzling $6,200,000. By comparison, the most expensive sale to close at The Legacy in 2017 had a price tag of $2,340,000.

#2. Coming up next is Chicago’s 60614, which saw a 9% increase year-over-year in median sale prices. The zip code covers part of Chicago’s North Side, encompassing neighborhoods such as Lincoln Park, Park West, the Old Town Triangle, and a couple of others. The 60614 zip code saw median home prices reach $519,000 at the end of October 2017.

60614 is no stranger to luxury homes either, like this swanky property at 1307 West Wrightwood Avenue. The cozy three-bedroom, two-bathroom unit enjoys plenty of natural light, has its own private outdoor terrace, and features an asking price of $699,000.

#3. The 60602 zip code, also part of The Loop, rounds out our top three with a median home price of $458,750. The zip code recorded the highest increase in median home prices in our top 10, rising 43% year-over-year.

The inflated median prices in the 60602 area are a result of the high number of luxury condos sold at The Heritage at Millennium Park. Located at 130 North Garland Court, the 57-story tower accounted for well over half of all transactions recorded through October 2017. The most expensive unit sold at The Heritage this year was a four-bedroom, three-and-a-half-bathroom property on the 53rd floor, which fetched $2,475,000.

Check out all of Chicago’s zip codes in the table below:

Zip CodeMedian Sale Price 2016Median Sale Price 2017Number of Transactions in 2016Number of Transactions in2017
60603$702,500 $520,000 5571
60614$475,000 $519,000 12781179
60602$320,500 $458,750 6536
60622$439,750 $458,000 690631
60642$401,000 $457,000 190230
60604$543,250 $456,000 1621
60601$406,000 $452,500 193164
60654$427,000 $435,000 305336
60606$356,000 $410,000 3533
60618$386,000 $400,000 842770
60611$386,000 $394,000 721539
60647$393,000 $391,000 703744
60610$381,000 $390,000 690674
60646$385,000 $380,500 275279
60657$389,500 $374,000 11621358
60607$360,000 $366,000 374373
60605$330,500 $345,000 414401
60661$325,500 $339,500 129124
60631$312,500 $322,500 317235
60616$311,750 $311,750 384394
60641$255,000 $295,750 449398
60625$283,000 $280,000 500561
60612$262,000 $279,000 190171
60630$263,000 $275,000 481463
60613$279,500 $270,250 842934
60706$255,500 $270,000 273248
60608$270,000 $265,000 211209
60640$257,500 $252,000 719830
60656$235,000 $250,000 323318
60634$235,000 $245,000 698688
60655$205,000 $225,500 301300
60659$221,500 $215,000 211233
60660$197,000 $206,000 441421
60653$194,000 $205,000 193204
60638$194,000 $203,000 512527
60639$182,750 $198,000 240227
60626$177,000 $183,000 268281
60609$170,250 $176,500 174151
60615$156,000 $175,000 351325
60652$143,000 $168,000 404399
60645$144,500 $158,000 301329
60632$146,250 $155,000 210178
60629$135,000 $145,000 537520
60637$85,000 $143,500 189209
60643$109,500 $130,000 430459
60651$80,000 $110,000 163218
60633$90,500 $97,500 11694
60623$60,000 $90,000 7684
60620$63,750 $87,000 450513
60617$65,000 $80,000 438493
60619$70,500 $72,000 393462
60624$48,500 $71,500 5860
60649$56,000 $65,000 191190
60644$46,500 $55,000 8190
60628$41,000 $51,000 436465
60621$19,000 $34,500 4959
60636$25,000 $27,000 147165

Methodology: To determine which were Chicago’s most expensive zip codes in 2017, we looked at all residential transactions closed between January 2017 and October 2017, and compared them with the figures from January 2016 to October 2016, taking into account condos, co-ops, and single- and two-family homes. All package deals were excluded.

Roxana Poenar

Roxana Poenar

With a taste for learning, Roxana joined PropertyShark in order to expand her knowledge of all things real estate. Passionate about reading and travelling, if she's not at her desk or engrossed in one of her books, then she's probably packing her backpack for a new adventure.

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