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Chicago City Wire

Monday, June 30, 2025

West Loop home prices rise in the first half of 2017

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The median sale price of a home sold in the first half of 2017 in West Loop, a Chicago neighborhood, rose by $22,500 while total sales decreased by 1.1%, according to BlockShopper.com.

From January through June of 2017, there were 86 homes sold, with a median sale price of $330,000 - a 7.3% increase over the $307,500 median sale price for the same period of the previous year. There were 87 homes sold in West Loop in the first half of 2016.

The median sales tax in West Loop for 2017 was $4,692. In 2016, the median sales tax was $4,409. This marks an increase of 6.4%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.4%.

The following table compares West Loop to other Chicago neighborhood with similar median sales prices in the first half of 2017:

NeighborhoodJan. - June 2017 Home SalesJan. - June 2016 Home Sales% change (Total Home Sales)Jan. - June 2017 Median Sales PriceJan. - June 2016 Median Sales Price% change (Median Sales Price)
Gold Coast4674572.2%$342,000$396,000-13.6%
Ravenswood 27014586.2%$340,750$352,000-3.2%
Irving Park 207236-12.3%$340,000$298,00014.1%
Pilsen716410.9%$332,000$285,00016.5%
University Village / Little Italy80739.6%$331,250$334,000-0.8%
West Loop8687-1.1%$330,000$307,5007.3%
Near North21819213.5%$330,000$368,750-10.5%
Mayfair47470%$330,000$275,00020%
Bridgeport16812930.2%$326,500$275,00018.7%
North Park7583-9.6%$325,000$257,00026.5%
Norwood Park17414222.5%$319,750$312,2502.4%

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