Zip Code 60623

Chicago, ILCook County

Real Estate Market Analysis

Q3 2025 Report
$297,000 (June 2025)
Median Home Value
Data not specified
Population
Data not specified
Median Income
Varies by school, generally mixed ratings
School District Rating

Market Statistics

Property Values

$297,000 (June 2025)
Median Home Value
Data not specified in search results
Median Rent
$161 (June 2025)
Price per Sq Ft

Market Performance

Home Appreciation8.6% increase year-over-year (June 2025)
Market VelocitySeller's market with homes selling faster and prices rising 12.3% since January 2025
Foreclosure RateData not specified in search results

Area Information

Area SizeApproximately 3.5 square miles
CountyCook
Primary CityChicago

Housing Profile

Housing Statistics

Total Housing UnitsData not specified
Owner OccupiedData not specified
Rental PropertiesData not specified
Vacant UnitsData not specified
New ConstructionData not specified

Housing Types

Single-family homesTownhomesCondominiums

Demographics

Data not specified
Population
Data not specified
Median Age
Data not specified
Median Income
Data not specified
Employment Rate
Data not specified
Education Levels
Data not specified
Family Composition

Education Quality

School District Performance

Varies by school, generally mixed ratings
District Rating
School DistrictChicago Public Schools (CPS)
Test ScoresVaries by school, no specific data provided
Graduation RatesVaries, generally aligned with Chicago averages

Schools in Area

  • Local elementary, middle, and high schools under CPS jurisdiction

Economic Factors

Employment & Business

Job GrowthModerate growth projected in Chicago metro area
Unemployment RateData not specified
Business EnvironmentCompetitive with ongoing urban development
Commercial ActivityActive with retail and service sectors

Major Employers

  • Local retail, manufacturing, and service industries in Chicago area

Infrastructure & Quality of Life

Infrastructure

Transportation Access

  • CTA Green Line and Pink Line nearby
  • Multiple bus routes
  • Proximity to major highways like I-290

Utilities & Services

  • Standard city utilities including water, electricity, gas, and waste management

Quality of Life

Safety & Environment

Higher than average crime rates compared to citywide averages

Urban environment with typical city pollution levels

Healthcare Access

  • Nearby hospitals and clinics in Chicago

Development Trends

Planned Developments

  • Urban renewal projects
  • Affordable housing initiatives

Infrastructure Projects

  • Road improvements
  • Public transit enhancements

Investment Outlook

Growth Outlook

Positive with steady appreciation and increased demand

Investment Opportunities

  • Residential redevelopment
  • Rental property investments
  • Commercial retail spaces

Marketing Intelligence

Target Demographics

  • First-time homebuyers
  • Young professionals
  • Investors seeking rental properties

Competitive Advantages

  • Lower price per square foot compared to some Chicago neighborhoods
  • Strong appreciation trends
  • Access to public transit

Pricing Strategies

Price competitively with recent sales data and emphasize value relative to market trends

Common Objections & Response Strategies

Objection: Concerns about crime rates

Response Strategy:

Provide updated crime statistics, highlight community safety initiatives, and emphasize neighborhood improvements

Objection: Perceived lower school quality

Response Strategy:

Share information on specific schools with good ratings and ongoing educational investments

Objection: Urban environment and noise

Response Strategy:

Focus on benefits of city living, accessibility, and community amenities

Professional Recommendations

1

Leverage seller's market data to create urgency among buyers

2

Highlight transit access and proximity to downtown Chicago

3

Educate buyers on neighborhood improvements and safety initiatives

4

Use recent sales data to price competitively

5

Target marketing to first-time buyers and investors

6

Stay informed on local development projects to advise clients

Competitive Analysis

Comparable Markets

  • 60608
  • 60612
  • 60632

Market Positioning

60623 is positioned as an affordable, appreciating market with strong demand and transit access

Competitive Advantages

  • Lower median home prices compared to some nearby zip codes
  • Faster home appreciation rates
  • Strong seller's market positioning

Price Comparison

Median home price of $297,000 is competitive relative to Chicago median of approximately $320,000

Investment Metrics

Data not specified, but rental demand suggests moderate cap rates
Cap Rates
Moderate, supported by steady rental demand
Rental Yields
Data not specified
Price-to-Rent
Positive for investors focusing on rental properties due to market demand
Cash Flow
Projected 8-9% annual appreciation in near term
Appreciation

Buyer Journey Insights

First-Time Buyers

Attracted by affordability and appreciation potential; need education on financing and neighborhood benefits

Move-Up Buyers

Looking for larger homes or better amenities; may be limited by inventory

Downsizers

Interested in low-maintenance properties close to transit and services

Investors

Focus on rental income potential and market appreciation

Relocators

Value transit access and proximity to downtown Chicago; may have concerns about crime and schools

This zip code analysis was generated using comprehensive market data and AI intelligence.

Market conditions change rapidly - consult with local real estate professionals for the most current information.

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