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Chicago City Wire

Friday, November 15, 2019

Q1 real estate sales report: River West

Real Estate

By Local Labs News Service | Aug 17, 2018

Re 14

Median prices rose in River West over last year, and are down 4.1 percent over 10 years, adjusted for inflation, according to first quarter sales data collected by BlockShopper.com.

From January to March, 26 homes sold in River West for a median price of $415,000. That's 1 percent higher than median home sale prices for the first quarter of 2017.

In the first quarter, there were no foreclosures in River West.

Median property tax for homeowners in River West was $6,476.91 in 2016 according to tax data from that year. That means homeowners pay 1.6 percent of their home's value in taxes.

Statewide, Illinois homeowners pay an effective property tax rate of 2.22 percent, according to a recent analysis by ATTOM Data Solutions, which is the second-highest rate in the country, just behind New Jersey, where homeowners pay a tax rate of 2.28 percent.

River West real estate: Q1 2009-2018
Properties sold
Median sale price
Change in sale price
2009
18
$432,900
-
2010
21
$312,930
-27.7%
2011
17
$384,200
22.8%
2012
23
$327,000
-14.9%
2013
19
$258,120
-21.1%
2014
21
$402,800
56.1%
2015
28
$502,970
24.9%
2016
29
$393,750
-21.7%
2017
32
$411,060
4.4%
2018
26
$415,000
1%

Median property tax
Median sale price
Effective property tax rate
2009
$5,992.16
$432,900
1.4%
2010
$3,059.47
$312,930
1%
2011
$4,326.92
$384,200
1.1%
2012
$5,028.57
$327,000
1.5%
2013
$3,945.60
$258,120
1.5%
2014
$5,754.70
$402,800
1.4%
2015
$6,546.93
$502,970
1.3%
2016
$6,476.91
$393,750
1.6%

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