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Chicago City Wire

Tuesday, January 21, 2020

Lawndale home prices rise in the second half of 2017

Real Estate

By Local Labs News Service | Jan 14, 2018

Realestate2

The median sale price of a home sold in the second half of 2017 in Lawndale, a Chicago neighborhood, rose by $49,500 while total sales increased by 36.1%, according to BlockShopper.com.

From July through December of 2017, there were 230 homes sold, with a median sale price of $119,500 - a 70.7% increase over the $70,000 median sale price for the same period of the previous year. There were 169 homes sold in Lawndale in the second half of 2016.

The median sales tax in Lawndale for 2017 was $3,216. In 2016, the median sales tax was $3,092. This marks an increase of 4%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 2.7%.

The following table compares Lawndale to other Chicago neighborhood with similar median sales prices in the second half of 2017:

Neighborhood
July - Dec. 2017 Home Sales
July - Dec. 2016 Home Sales
% change (Total Home Sales)
July - Dec. 2017 Median Sales Price
July - Dec. 2016 Median Sales Price
% change (Median Sales Price)
Marquette Park
174
138
26.1%
$129,000
$106,000
21.7%
Washington Park
48
43
11.6%
$127,500
$65,000
96.2%
Oakland
30
33
-9.1%
$122,750
$110,000
11.6%
East Side
104
101
3%
$122,000
$95,000
28.4%
South Shore
207
192
7.8%
$120,500
$73,750
63.4%
Lawndale
230
169
36.1%
$119,500
$70,000
70.7%
West Hometown
36
30
20%
$118,000
$100,000
18%
East Garfield Park
103
115
-10.4%
$118,000
$91,500
29%
Hegewisch
50
54
-7.4%
$113,750
$107,000
6.3%
Calumet Heights
194
173
12.1%
$111,500
$86,500
28.9%
Brainerd
165
169
-2.4%
$108,500
$80,000
35.6%

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