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Zip Code 60647

Chicago, IL • Cook County

Real Estate Market Analysis

Q3 2025 Report
$649,000 (June 2025)
Median Home Value
~75,000
Population
$88,000 (est. 2024)
Median Income
Average to Above Average (CPS ratings)
School District Rating

Market Statistics

Property Values

$649,000 (June 2025)
Median Home Value
$2,400–$2,800/mo (est., varies by unit type)
Median Rent
$350 (June 2025)
Price per Sq Ft

Market Performance

Home Appreciation12.9% YoY (June 2025)
Market VelocitySeller's market; homes sell quickly, inventory remains tight
Foreclosure RateLow; no significant uptick reported

Area Information

Area SizeApprox. 3.2 sq mi
CountyCook
Primary CityChicago

Housing Profile

Housing Statistics

Total Housing Units~31,000 (est.)
Owner Occupied~38%
Rental Properties~62%
Vacant Units~7%
New ConstructionModerate infill; ongoing condo and multi-family developments

Housing Types

Vintage greystones2-4 flatsCondominiumsSingle-family homesNewer mid-rise apartments

Demographics

~75,000
Population
32
Median Age
$88,000 (est. 2024)
Median Income
~95% (unemployment ~5%)
Employment Rate
High; over 50% hold bachelor’s degree or higher
Education Levels
Mix of young professionals, families, and long-term residents
Family Composition

Education Quality

School District Performance

Average to Above Average (CPS ratings)
District Rating
School DistrictChicago Public Schools (CPS)
Test ScoresVaried; some schools above city average
Graduation Rates~85% (CPS average)

Schools in Area

  • Goethe Elementary
  • Darwin Elementary
  • Yates Elementary
  • Clemente High School
  • St. Sylvester School (private)

Economic Factors

Employment & Business

Job GrowthSteady; tech and service sectors expanding
Unemployment Rate~5%
Business EnvironmentVibrant; strong small business and restaurant scene
Commercial ActivityHigh; active retail corridors on Milwaukee, Armitage, and Western

Major Employers

  • Healthcare (Presence Saints Mary and Elizabeth)
  • Education (local schools, DePaul nearby)
  • Retail and hospitality
  • Tech startups

Infrastructure & Quality of Life

Infrastructure

Transportation Access

  • • CTA Blue Line (multiple stops)
  • • Metra (Clybourn station nearby)
  • • Bus routes (56, 73, 74, 49)
  • • Easy access to I-90/94

Utilities & Services

  • • City water/sewer
  • • ComEd electricity
  • • Peoples Gas

Quality of Life

Safety & Environment

Moderate; property crime higher than national average, violent crime near city average

Good; green space above city average, air quality typical for Chicago

Healthcare Access

  • • Presence Saints Mary and Elizabeth
  • • Advocate Illinois Masonic nearby

Development Trends

Planned Developments

  • Mixed-use projects on Milwaukee Ave
  • Transit-oriented developments near Blue Line

Infrastructure Projects

  • • 606 Trail expansion
  • • Streetscape improvements

Investment Outlook

Growth Outlook

Positive; continued demand from young professionals and families

Investment Opportunities

  • • Condo conversions
  • • Multi-family rental properties
  • • Retail storefronts

Marketing Intelligence

Target Demographics

  • Young professionals
  • Dual-income families
  • Investors seeking rental income

Competitive Advantages

  • Proximity to downtown
  • Vibrant culture and food scene
  • Strong price appreciation

Pricing Strategies

Price at or slightly above recent comps due to seller's market

Common Objections & Response Strategies

Objection: High home prices and competition

Response Strategy:

Emphasize long-term appreciation, low inventory, and strong rental demand

Objection: Concerns about crime

Response Strategy:

Highlight community policing, active neighborhood groups, and improving trends

Objection: Older housing stock

Response Strategy:

Showcase renovated properties and new construction options

Professional Recommendations

1

Advise buyers to be pre-approved and act quickly

2

Highlight neighborhood amenities and appreciation trends

3

Target listings to young professionals and families

4

Leverage social media and virtual tours for marketing

5

Monitor new developments and zoning changes for investment leads

Competitive Analysis

Comparable Markets

  • Wicker Park (60622)
  • Bucktown (60647 overlap)
  • Logan Square (adjacent)

Market Positioning

Trendy, high-demand urban neighborhood

Competitive Advantages

  • Higher appreciation than city average
  • Better transit access than some peers

Price Comparison

Median price higher than city average, similar to Wicker Park

Investment Metrics

4.5%–5.5% (multi-family, 2025 est.)
Cap Rates
~5% gross yield
Rental Yields
~22–24
Price-to-Rent
Moderate; positive cash flow possible with strong rents
Cash Flow
5–7% annually (2025–2027 est.)
Appreciation

Buyer Journey Insights

First-Time Buyers

Face competition and higher prices; may focus on condos or smaller homes

Move-Up Buyers

Seek renovated single-family homes or larger condos; inventory limited

Downsizers

Attracted to new condos and walkable amenities

Investors

Strong rental demand, but must act quickly; value in multi-family and condo units

Relocators

Drawn by transit, culture, and proximity to downtown

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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Nearby Areas

Roscoe Village in Chicago, IL

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0 miles away

$650,000

Logan Square in Chicago, IL

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0 miles away

$600,000

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