Dan Ganzer, Chairperson, Village of Lemont Heritage Corridor & Outdoor Recreation Commission | Linkedin
Dan Ganzer, Chairperson, Village of Lemont Heritage Corridor & Outdoor Recreation Commission | Linkedin
During 2023, the latest valuation data available, the neighborhood recorded a total of seven commercial property valuations, culminating in a median property valuation of $92,234. Data shows this is a 40% increase from the five registered in the previous year.
In 2023, the commercial property with the highest valuation in Washington Park was located at 6210 S Martin Luther King Dr, valued at $200,553. The second and third highest valuations were at 5223 S CALUMET AVE and 6224 S Martin Luther King Dr, valued at $182,896 and $146,926, respectively.
Chicago faced a 21.9% decrease in commercial property taxes in 2021, with the 2023 median property valuation of $58,570 serving as a guideline.
Property tax assessments in South suburban Cook County have skyrocketed, with some homeowners facing increases up to 650%. This has led to widespread concern, as articulated by Jami Flaws from Lyons Township, who fears such hikes will force many from their homes. Residents say the tax assessment increases don't match the market values of their homes.
"We probably won't be able to sell our homes because they aren't even close to what the assessment says," Flaws said.
Due to privacy and security concerns, some addresses were not fully disclosed.
For accurate comparisons, property valuations prior to 2023 have been adjusted using average CPI inflation to reflect 2023 dollars.
This story was found on BlockShopper.
| Neighborhood | Median Valuation (2023) | Median Valuation (2022) | Assessment Change % | Property Tax Change % |
|---|---|---|---|---|
| Heart of Chicago | $105,820 | $16,215 | 552.6% | 120.9% |
| Hegewisch | $127,930 | $29,725 | 330.4% | 330.4% |
| West Elsdon | $158,096 | $43,140 | 266.5% | -10.1% |
| Gage Park | $68,173 | $21,023 | 224.3% | 308.7% |
| West Englewood | $217,132 | $67,903 | 219.8% | 421.6% |
| Andersonville | $252,761 | $83,523 | 202.6% | 68.1% |
| North Mayfair | $150,296 | $60,783 | 147.3% | 137.4% |
| Roseland | $153,841 | $62,388 | 146.6% | 201.9% |
| Roscoe Village | $178,232 | $75,217 | 137% | 81.7% |
| Near West Side | $130,906 | $56,877 | 130.2% | 107.1% |
| Lake View | $154,942 | $68,186 | 127.2% | 127.2% |
| River West | $77,426 | $36,161 | 114.1% | 34.5% |
| Uptown | $256,963 | $128,480 | 100% | 290.5% |
| Garfield Ridge | $116,169 | $59,228 | 96.1% | -22.2% |
| Logan Square | $119,466 | $62,329 | 91.7% | 25.1% |
| Wrigleyville | $245,217 | $128,338 | 91.1% | 59.6% |
| Wicker Park | $249,726 | $135,895 | 83.8% | -6.4% |
| Galewood | $117,214 | $67,749 | 73% | 0.8% |
| South Chicago | $89,629 | $52,718 | 70% | 81.1% |
| Brighton Park | $87,411 | $51,444 | 69.9% | 267.3% |
| Woodlawn | $103,633 | $61,806 | 67.7% | 66.7% |
| Bucktown | $155,946 | $95,648 | 63% | 6.6% |
| Calumet Heights | $70,136 | $43,337 | 61.8% | 81.4% |
| Bridgeport | $91,951 | $58,516 | 57.1% | 127.5% |
| Norwood Park | $115,114 | $79,445 | 44.9% | 31.9% |
| Buena Park | $234,558 | $174,749 | 34.2% | -3.1% |
| Irving Park | $104,569 | $79,391 | 31.7% | 34.5% |
| Ravenswood | $175,077 | $135,054 | 29.6% | 32.8% |
| Mayfair | $54,063 | $42,807 | 26.3% | 71.5% |
| Wrightwood | $52,510 | $43,168 | 21.6% | 91.4% |
| West Garfield Park | $73,207 | $60,707 | 20.6% | -38.5% |
| Lincoln Park | $65,714 | $54,719 | 20.1% | 7.2% |
| Dunning | $77,505 | $66,254 | 17% | 116.4% |
| North Park | $71,162 | $60,940 | 16.8% | 10.6% |
| Greater Grand Crossing | $80,881 | $70,066 | 15.4% | 1.2% |
| Lakeview | $62,624 | $54,901 | 14.1% | -4.4% |
| West Lawn | $39,837 | $36,157 | 10.2% | 18.8% |
| Beverly | $65,279 | $59,522 | 9.7% | -54.5% |
| McKinley Park | $67,257 | $61,309 | 9.7% | -39.9% |
| Belmont/Cragin | $97,053 | $88,840 | 9.2% | 9.1% |
| Chicago Lawn | $84,879 | $78,375 | 8.3% | 5% |
| Washington Heights | $49,722 | $46,502 | 6.9% | -31.7% |
| Jefferson Park | $68,952 | $64,546 | 6.8% | -44.8% |
| Edgewater | $134,910 | $127,848 | 5.5% | -30.3% |
| Washington Park | $105,147 | $104,882 | 0.3% | 23.1% |
| Austin | $85,999 | $85,772 | 0.3% | 246.1% |
| Avondale | $100,725 | $101,836 | -1.1% | 3.5% |
| Edgebrook | $44,612 | $45,178 | -1.3% | -1.2% |
| Ukrainian Village | $130,097 | $132,307 | -1.7% | -2.8% |
| Near North | $3,664 | $3,763 | -2.6% | 205.3% |
| Rogers Park | $111,828 | $115,198 | -2.9% | -18.1% |
| O'Hare | $374,953 | $389,474 | -3.7% | -60.5% |
| Humboldt Park | $79,799 | $84,404 | -5.5% | -8.2% |
| Gresham | $70,901 | $75,255 | -5.8% | -5.1% |
| Burnside | $44,214 | $47,243 | -6.4% | -49.6% |
| River North | $4,168 | $4,690 | -11.1% | -15.3% |
| Marquette Park | $65,272 | $73,711 | -11.4% | -34.3% |
| Lawndale | $53,268 | $61,132 | -12.9% | 4.9% |
| Kenwood | $104,885 | $121,777 | -13.9% | 34.3% |
| The Loop | $6,839 | $7,979 | -14.3% | 4.6% |
| South Shore | $81,361 | $97,227 | -16.3% | 2.4% |
| Edison Park | $94,827 | $113,885 | -16.7% | -13.4% |
| East Garfield Park | $46,221 | $57,144 | -19.1% | -48.7% |
| Albany Park | $85,096 | $110,455 | -23% | 2.2% |
| Portage Park | $56,158 | $73,077 | -23.2% | -8.6% |
| West Town | $52,580 | $69,680 | -24.5% | -20.3% |
| Montclare | $74,507 | $100,070 | -25.5% | 2.6% |
| West Rogers Park | $78,272 | $107,137 | -26.9% | -34.9% |
| Archer Heights | $15,108 | $21,084 | -28.3% | -20.6% |
| North Center | $61,275 | $86,783 | -29.4% | -23.6% |
| East Side | $82,367 | $118,299 | -30.4% | -34.8% |
| Clearing | $32,819 | $47,402 | -30.8% | 18.1% |
| Chatham | $47,414 | $69,250 | -31.5% | -20.6% |
| Bronzeville | $60,606 | $88,759 | -31.7% | -29.9% |
| Brainerd | $43,413 | $63,583 | -31.7% | -28.7% |
| Mount Greenwood | $42,879 | $65,298 | -34.3% | 41.7% |
| Little Village | $48,119 | $74,883 | -35.7% | -44.9% |
| Pilsen | $35,492 | $58,224 | -39% | -47.9% |
| Sauganash | $49,281 | $81,198 | -39.3% | 97.8% |
| Streeterville | $322,467 | $533,837 | -39.6% | -39.6% |
| Englewood | $39,084 | $66,966 | -41.6% | -43.9% |
| Back of the Yards | $32,355 | $56,559 | -42.8% | 12% |
| Ashburn | $35,339 | $67,673 | -47.8% | -48.1% |
| West Pullman | $26,121 | $52,643 | -50.4% | 26.8% |
| Chinatown | $35,146 | $71,035 | -50.5% | -4.3% |
| New City | $39,850 | $82,837 | -51.9% | -57.1% |
| Morgan Park | $23,075 | $52,309 | -55.9% | -7.9% |
| Roseland/Pullman | $35,092 | $80,823 | -56.6% | -62.2% |
| Noble Square | $47,765 | $110,036 | -56.6% | -44.7% |
| Union Ridge | $29,779 | $72,546 | -59% | -59.2% |
| Hermosa | $30,750 | $89,618 | -65.7% | -12.3% |
| Hyde Park | $71,950 | $214,057 | -66.4% | -65.2% |
| South Deering | $28,530 | $115,062 | -75.2% | -74.5% |
| University Village / Little Italy | $24,608 | $126,540 | -80.6% | -97.2% |
| Old Town | $2,279 | $19,751 | -88.5% | -28.4% |
| West Loop | $4,232 | $53,933 | -92.2% | -45.9% |
| South Loop | $2,849 | $45,807 | -93.8% | -45.3% |
| Goose Island | $53,937 | $1,890,485 | -97.1% | -97.2% |
| Boystown | $2,150 | $204,710 | -98.9% | -99.2% |
| Gold Coast | $35,676 | $4,231,845 | -99.2% | -89.7% |
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