Chicago City Wire

Property owners in The Loop paid nearly 0.56% percent of the value of their homes in taxes last year. That’s more than 0.49 times the national average, according to an LGIS analysis of real estate sales data in Chicago’s South Side from Jan 1. to June 30.

Local Government Information Service (LGIS) publishes Chicago City Wire.

The Loop, population 33,442, recorded a median sale price of $190,000 based on data from the 369 properties sold during the first half of 2018. In 2017, homeowners paid a median property tax bill of $1,104, according to county tax data from the Cook County Assessor’s Office.

That’s 0.56 percent of the community’s median home value. In the U.S., the average effective property tax rate is 1.19 percent.

Put another way: a $190,000 home in Indiana, where the effective rate is 0.89 percent, would have a property tax bill of about $1,700, or nearly $-580 less per year.

The analysis, including 21 Chicago North Side communities, shows homeowners in Ravenswood, Wrigleyville, Lincoln Square, Andersonville, West Rogers Park, and Lincoln Park pay the highest property taxes in the region, each clocking in with effective rates of 1.7 to 2 percent.

Illinois homeowners pay the second-highest property taxes in the country with an effective median rate of 2.32 percent, just behind those in New Jersey's (2.28 percent).

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Top Property Rates in Chicago’s North Side

The following table ranks Chicago’s North Side communities by their median effective property tax rate, calculated using sales and property tax data from 2018.

Neighborhood	Jan - June 2018 Sales	Jan - June 2018 Median Price	Median tax	Effective Tax Rate
Ravenswood	243	$359,000	$7,181	2.00%
Wrigleyville	208	$440,000	$8,661	1.97%
Lincoln Square	50	$438,000	$8,224	1.88%
Andersonville	125	$425,000	$7,966	1.87%
West Rogers Park	402	$233,250	$4,181	1.79%
Lincoln Park	1,124	$456,000	$7,769	1.70%
Roscoe Village	149	$593,500	$9,554	1.61%
North Center	190	$598,500	$9,534	1.59%
Lakeview	993	$429,500	$6,707	1.56%
Gold Coast	574	$390,000	$5,644	1.45%
Near North	267	$322,500	$4,539	1.41%
River North	221	$410,000	$5,703	1.39%
Old Town	185	$340,000	$4,623	1.36%
Uptown	369	$235,000	$3,180	1.35%
Goose Island	71	$450,000	$6,039	1.34%
Edgewater	511	$192,000	$2,556	1.33%
Boystown	281	$267,000	$3,282	1.23%
Buena Park	176	$236,500	$2,778	1.17%
Rogers Park	310	$195,000	$2,284	1.17%
Streeterville	95	$412,500	$4,778	1.16%
The Loop	369	$190,000	$1,104	0.58%

Source: BlockShopper.com; Cook County Assessor’s Office

Median Sales Prices in Chicago’s North Side

The following table ranks Chicago’s North Side cities by the year-over-year change in median sale price, which is calculated using prices of properties sold during the first six months of 2018.

Neighborhood	Jan - June 2017 Sales	Jan - June 2017 Median Price	Jan - June 2018 Sales	Jan - June 2018 Median Price	Change
Boystown	452	$239,500	281	$267,000	11.48%
Rogers Park	337	$177,000	310	$195,000	10.17%
Gold Coast	564	$356,000	574	$390,000	9.55%
West Rogers Park	469	$220,000	402	$233,250	6.02%
River North	231	$390,000	221	$410,000	5.13%
Goose Island	82	$431,250	71	$450,000	4.35%
Ravenswood	318	$349,000	243	$359,000	2.87%
Buena Park	175	$230,500	176	$236,500	2.60%
Andersonville	123	$429,000	125	$425,000	-0.93%
Roscoe Village	141	$600,000	149	$593,500	-1.08%
Lakeview	1,005	$435,000	993	$429,500	-1.26%
Uptown	308	$248,500	369	$235,000	-5.43%
Old Town	179	$361,000	185	$340,000	-5.82%
Streeterville	93	$440,000	95	$412,500	-6.25%
Near North	273	$350,000	267	$322,500	-7.86%
Lincoln Square	40	$490,000	50	$438,000	-10.61%
Edgewater	429	$215,000	511	$192,000	-10.70%
North Center	218	$672,500	190	$598,500	-11.00%
Wrigleyville	183	$500,000	208	$440,000	-12.00%
Lincoln Park	974	$520,000	1,124	$456,000	-12.31%
The Loop	121	$365,000	369	$190,000	-47.95%

Sources: Blockshopper.com; Cook County Recorder of Deeds