Given the current state of affairs—inflation, political turmoil, general chaos—the mere thought of buying a home might provoke a sense of panic. Deciding where to live, after all, is a very big deal.
Although we can't do much to relieve that anxiety (we feel the same as you!), there's something comforting in knowing a bit more about the real estate market—especially when the information comes from local experts.
To that intent, we hereby report on a new release by personal finance website GoBankingRates. The outlet reached out to Cody Horvat, a real estate broker at Scott Group Real Estate in Chicago, about the top neighborhoods when looking to buy a home in the area this year. Here is what he had to say:
Lincoln Park
“With so much to offer, Lincoln Park has some of the highest home prices in the city, with a median price point of $849,000,” Horvat says to the outlet.
Definitely one of the most desirable local neighborhoods, Lincoln Park specifically benefits from its central location. You can get just about anywhere around the city in 20 minutes or so and the namesake park offers plenty of green space. That being said, it is pretty expensive to live there.
Medical District
Right near West Loop, the Medical Center basically houses the spillover from its popular neighboring area.
What's more, "easy access to major medical facilities and Rush University make it a popular choice for professionals in the medical field," notes the expert.
You know what they say: location, location, location.
United Center
“Together, the Medical District and United Center areas led the city in price growth in 2024—a trend I expect to continue into 2025,” Horvat says. “These neighborhoods are excellent options for both investors and homebuyers that want maximum price appreciation.”
Another neighborhood situated right next to West Loop's best restaurants and things to do. Plenty of new businesses and shopping destinations, as well as a proposed campus, also plan to open in the area, surely making it even more desirable.
The Loop
According to GoBankingRates, "within the Loop's two zip codes, 60606 and 60602, inventory has grown 43.75% and 17.07%, respectively, year over year."
In addition to that, pandemic-related issues had already driven prices down as folks moved out of the city center. That all translates to more negotiating power for buyers—and, likely, very good real estate deals.
Rogers Park
Horvat mentions that the median price for a home in Rogers Park is $221,000, making it one of the best values around town.
The area itself is filled with history and culture, which is always a plus. The bungalows that pepper the neighborhood were built back in the 1920s "to facilitate homeownership among residents from a variety of cultural and economic backgrounds," reports GoBankingRates. "The neighborhood is still affordable, even amid rapid growth."