La Grange Park, IL. 60526 Appraisers, Appraisal

La Grange Park, Illinois 60526

The village of La Grange Park is located approximately 15 miles southwest of the Chicago "Loop" in suburban Cook County. The population was 13,295 at the 2000 census. The village has a total area of 2.2 square miles

The village is bordered by Westchester & Broadview to the north, Brookfield to the east, La Grange to the south and the Cook County Forest Preserves to the west.

According to data from the Northern Illinois MLS there were 139 sales of single family homes in 2007, up from 114 in 2006. The average sales price was $396,308.00, this was a decrease from $402,414.00 in 2006. Marketing times were an average of 124 days on the market, up over the 2006 average of 64 days.

As of February 19, 2008 there are 87 active listings of single family detached homes in the MLS. At the 2007 level of absorption this is 7.51 months of unsold available inventory. A 3-4 months supply of inventory is considered "in balance", this level is an oversupply.

To recap 2007 for detached homes, sales volume was up +21.92%, average sales prices increased +1.51% and the days on the market were up +93.75%. This market is oversupplied and the 87 active listings have already been on the market an average of 202 days.

The condo/townhouse market had 17 sales, down from the 24 properties that sold in 2006. Sales prices saw a decline with the average 2007 sales price at $145,088.00, compared to $173,033.00 in 2006. Marketing times were an average of 114 days on the market, up over the 2006 average of 47 days.

There are 15 active listings of attached homes in the MLS. Based on the 2007 level of absorption this is 10.63 months of unsold inventory.

The condo/townhouse market is over supplied, sales volume was down -29.16%, average sales price decreased -16.15%, and the days on the market increased +142.55%. The 15 active MLS listings have already been on the market an average of 164 days.

If you have an active listing or need to sell in 2008 now is the time to get an appraisal. The market has changed and only the most competitively priced homes will be selling soon.

Make sure that your listing is competitive, get a current appraisal. Complete appraisals of single family homes and condominiums start at $275.00. this is a small price to pay for knowledge that will help you position your house to sell in the current market.

Citywide Services provides residential appraisal service in La Grange Park, IL. 60526 Our appraisers are state certified and have experience with single family homes, town houses, condominiums as well as small residential income properties. When you need to find an appraiser in Cook County contact Citywide.

To order an appraisal or to speak with an appraiser call 1-800-405-9718

Village of La Grange Park Website

Geographic Area: La Grange Park, Cook County Illinois 60526

Subject	Number	Percent	Subject	Number	Percent

Total housing units	5,542	100.0	OCCUPANTS PER ROOM
UNITS IN STRUCTURE			Occupied housing units	5,412	100.0
1-unit, detached	3,680	66.4	1.00 or less	5,351	98.9
1-unit, attached	157	2.8	1.01 to 1.50	22	0.4
2 units	155	2.8	1.51 or more	39	0.7
3 or 4 units	338	6.1
5 to 9 units	391	7.1	Specified owner-occupied units	3,593	100.0
10 to 19 units	233	4.2	VALUE
20 or more units	588	10.6	Less than $50,000	0	0.0
Mobile home	0	0.0	$50,000 to $99,999	74	2.1
Boat, RV, van, etc.	0	0.0	$100,000 to $149,999	459	12.8
			$150,000 to $199,000	1,179	32.8
YEAR STRUCTURE BUILT			$200,000 to $299,999	1,236	34.4
1999 to March 2000	5	0.1	$300,000 to $499,999	575	16.0
1995 to 1998	41	0.7	$500,000 to $999,999	70	1.9
1990 to 1994	250	4.5	$1,000,000 or more	0	0.0
1980 to 1989	129	2.3	Median (dollars)	205,200	(X)
1970 to 1979	240	4.3
1960 to 1969	718	13.0	MORTGAGE STATUS AND SELECTED
1940 to 1959	3,295	59.5	MONTHLY OWNER COSTS
1939 or earlier	864	15.6	With a mortgage	2,347	65.3
			Less than $300	0	0.0
ROOMS			$300 to $499	10	0.3
1 room	68	1.2	$500 to $699	93	2.6
2 rooms	81	1.5	$700 to $999	227	6.3
3 rooms	334	6.0	$1,000 to $1,499	923	25.7
4 rooms	1,061	19.1	$1,500 to $1,999	653	18.2
5 rooms	1,219	22.0	$2,000 or more	441	12.3
6 rooms	1,078	19.5	Median (dollars)	1,465	(X)
7 rooms	855	15.4	Not mortgaged	1,246	34.7
8 rooms	460	8.3	Median (dollars)	476	(X)
9 or more rooms	386	7.0
Median (rooms)	5.5	(X)	SELECTED MONTHLY OWNER COSTS
			AS A PERCENTAGE OF HOUSEHOLD
Occupied Housing Units	5,412	100.0	INCOME IN 1999
YEAR HOUSEHOLDER MOVED INTO UNIT			Less than 15 percent	1,093	30.4
1999 to March 2000	828	15.3	15 to 19 percent	745	20.7
1995 to 1998	1,342	24.8	20 to 24 percent	556	15.5
1990 to 1994	837	15.5	25 to 29 percent	422	11.7
1980 to 1989	952	17.6	30 to 34 percent	245	6.8
1970 to 1979	624	11.5	35 percent or more	522	14.5
1969 or earlier	829	15.3	Not computed	10	0.3

VEHICLES AVAILABLE			Specified renter-occupied units	1,539	100.0
None	492	9.1	GROSS RENT
1	2,068	38.2	Less than $200	8	0.5
2	2,222	41.1	$200 to $299	0	0.0
3 or more	630	11.6	$300 to $499	9	0.6
			$500 to $749	639	41.5
HOUSE HEATING FUEL			$750 to $999	464	30.1
Utility Gas	4,804	88.8	$1,000 to $1,499	143	9.3
Bottled, Tank, or LP gas	40	0.7	$1,500 or more	252	16.4
Electricity	432	8.0	No cash rent	24	1.6
Fuel oil, kerosene, etc.	25	0.5	Median (dollars)	782	(X)
Coal or coke	0	0.0
Wood	0	0.0	GROSS RENT AS A PERCENTAGE OF
Solar energy	0	0.0	HOUSEHOLD INCOME IN 1999
Other fuel	76	1.4	Less than 15 percent	238	15.5
No fuel used	35	0.6	15 to 19 percent	218	14.2
			20 to 24 percent	171	11.1
SELECTED CHARACTERISTICS			25 to 29 percent	126	8.2
Lacking complete plumbing facilities	16	0.3	30 to 34 percent	140	9.1
Lacking complete kitchen facilities	20	0.4	35 percent or more	600	39.0
No telephone service	6	0.1	Not computed	46	3.0

-Represent zero or rounds to zero. (X) Not applicable.
Source: U.S. Bureau of the Census, Census 2000.

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