Chicago Real Estate: The Basics
Whether you’re a homebuyer, a seller, or a seasoned investor, property data is what fuels your decisions and ensures your long-term returns.
Are you thinking of buying or selling real estate in the Chicago area this year? The Chicago property data you need is right here.
Chicago’s metro market is a large one, spanning more than 10,000 square miles. It includes major cities like Aurora, Naperville, Joliet, Elgin, and Hammond and is home to over 9 million people. It’s the third-most populated metro market in the entire U.S.
Here’s a quick snapshot of the Chicago real estate market at the end of 2019:
| Number of properties | 3.8 million |
|---|---|
| Total number of foreclosures* | 27,049 |
| Overall foreclosure rate | 0.71% (1 in every 141 housing units) |
| Median Sales Price | $228,000 |
| Average Homeownership Tenure | 9.08 years |
| Seller Gains | 19.4% |
| Home Flipping Rate | 4.5% |
| Gross Flipping Profit | $89,000 |
* Foreclosures are down nearly 17% in Chicago over 2018, but this city still ranks at No. 12 in terms of overall foreclosure rates.
A Look at Detailed Chicago Property Data
Having a basic knowledge of the Chicago market will only get you so far. If you want to make the smartest buying and selling decisions, detailed property-level data is crucial.
You’ll want access to:
- Ownership data
- Mortgage and financing information
- Sales history
- Property valuations and assessor data
- Geocodes and coordinate data
- Property characteristics like bed/bath, square footage, features, HVAC, construction materials, lot size, and more
- Foreclosure and REO data
- Recorder and deed information
