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Northlake, Illinois 60164
The city of Northlake is located 14 miles northwest of the Chicago "Loop" at the border of Cook and DuPage County, O’Hare International Airport is approximately 8 miles north. The southern border of the city is home to the Union Pacific Rail yard.
There were 71 sales of single family homes in 2007, according to data from the Northern Illinois MLS. The sales volume was down from 122 sales in 2006. Sales prices saw a decrease with the average 2007 sales price at $251,860.00, compared to $258,313.00 in 2006. Marketing times were an average of 119 days on the market, up over the 2006 average of 85 days.
As of January 11, 2008 there are 83 active listings of single family detached homes in the MLS. At the 2007 level of absorption this is 14.04 months of unsold available inventory. A 3-4 months supply of inventory is considered "in balance", this level is an oversupply.
To recap 2007, sales volume was down -41.80%, average sales prices were down -2.497%, and the days on the market were up +40.00%. This market is oversupplied and the 83 active listings have already been on the market an average of 192 days.
This neighborhood is being negatavely affected by the loss of subprime lending. Sales volume, prices and marketing times are feeling the effect. There is too much inventory for the demand, this points to long marketing times and lower prices in 2008.
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.
How to be 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 Northlake, Il. 60164. 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
Geographic Area: Northlake, Cook County Illinois 60164
| Subject |
Number |
Percent |
|
Subject |
Number |
Percent |
|
| Total housing units |
7,130 |
100.0 |
|
OCCUPANTS PER ROOM |
|
|
| UNITS IN STRUCTURE |
|
|
|
Occupied housing units |
6,918 |
100.0 |
| 1-unit, detached |
5,113 |
71.7 |
|
1.00 or less |
6,345 |
91.7 |
| 1-unit, attached |
77 |
1.1 |
|
1.01 to 1.50 |
264 |
3.8 |
| 2 units |
206 |
2.9 |
|
1.51 or more |
309 |
4.5 |
| 3 or 4 units |
180 |
2.5 |
|
|
|
|
| 5 to 9 units |
153 |
2.1 |
|
Specified owner-occupied units |
4,748 |
100.0 |
| 10 to 19 units |
639 |
9.0 |
|
VALUE |
|
|
| 20 or more units |
720 |
10.1 |
|
Less than $50,000 |
19 |
0.4 |
| Mobile home |
42 |
0.6 |
|
$50,000 to $99,999 |
325 |
6.8 |
| Boat, RV, van, etc. |
0 |
0.0 |
|
$100,000 to $149,999 |
3,025 |
63.7 |
| |
|
|
|
$150,000 to $199,000 |
1,174 |
24.7 |
| YEAR STRUCTURE BUILT |
|
|
|
$200,000 to $299,999 |
184 |
3.9 |
| 1999 to March 2000 |
4 |
0.1 |
|
$300,000 to $499,999 |
15 |
0.3 |
| 1995 to 1998 |
78 |
1.1 |
|
$500,000 to $999,999 |
6 |
0.1 |
| 1990 to 1994 |
82 |
1.2 |
|
$1,000,000 or more |
0 |
0.0 |
| 1980 to 1989 |
353 |
5.0 |
|
Median (dollars) |
137,700 |
(X) |
| 1970 to 1979 |
568 |
8.0 |
|
|
|
|
| 1960 to 1969 |
1,406 |
19.7 |
|
MORTGAGE STATUS AND SELECTED |
|
|
| 1940 to 1959 |
4,194 |
58.8 |
|
MONTHLY OWNER COSTS |
|
|
| 1939 or earlier |
445 |
6.2 |
|
With a mortgage |
3,279 |
69.1 |
| |
|
|
|
Less than $300 |
6 |
0.1 |
| ROOMS |
|
|
|
$300 to $499 |
59 |
1.2 |
| 1 room |
220 |
3.1 |
|
$500 to $699 |
183 |
3.9 |
| 2 rooms |
282 |
4.0 |
|
$700 to $999 |
606 |
12.8 |
| 3 rooms |
880 |
12.3 |
|
$1,000 to $1,499 |
1,698 |
35.8 |
| 4 rooms |
633 |
8.9 |
|
$1,500 to $1,999 |
614 |
12.9 |
| 5 rooms |
1,323 |
18.6 |
|
$2,000 or more |
113 |
2.4 |
| 6 rooms |
1,588 |
22.3 |
|
Median (dollars) |
1,207 |
(X) |
| 7 rooms |
1,196 |
16.8 |
|
Not mortgaged |
1,469 |
30.9 |
| 8 rooms |
581 |
8.1 |
|
Median (dollars) |
328 |
(X) |
| 9 or more rooms |
427 |
6.0 |
|
|
|
|
| Median (rooms) |
5.6 |
(X) |
|
SELECTED MONTHLY OWNER COSTS |
|
|
| |
|
|
|
AS A PERCENTAGE OF HOUSEHOLD |
|
|
| Occupied Housing Units |
6,918 |
100.0 |
|
INCOME IN 1999 |
|
|
| YEAR HOUSEHOLDER MOVED INTO UNIT |
|
|
|
Less than 15 percent |
1,540 |
32.4 |
| 1999 to March 2000 |
831 |
12.0 |
|
15 to 19 percent |
705 |
14.8 |
| 1995 to 1998 |
1,820 |
26.3 |
|
20 to 24 percent |
704 |
14.8 |
| 1990 to 1994 |
1,046 |
15.1 |
|
25 to 29 percent |
556 |
11.7 |
| 1980 to 1989 |
1,090 |
15.8 |
|
30 to 34 percent |
323 |
6.8 |
| 1970 to 1979 |
729 |
10.5 |
|
35 percent or more |
886 |
18.7 |
| 1969 or earlier |
1,402 |
20.3 |
|
Not computed |
34 |
0.7 |
| |
|
|
|
|
|
|
| VEHICLES AVAILABLE |
|
|
|
Specified renter-occupied units |
1,609 |
100.0 |
| None |
538 |
7.8 |
|
GROSS RENT |
|
|
| 1 |
2,331 |
33.7 |
|
Less than $200 |
11 |
0.7 |
| 2 |
2,436 |
35.2 |
|
$200 to $299 |
15 |
0.9 |
| 3 or more |
1,613 |
23.3 |
|
$300 to $499 |
145 |
9.0 |
| |
|
|
|
$500 to $749 |
922 |
57.3 |
| HOUSE HEATING FUEL |
|
|
|
$750 to $999 |
179 |
11.1 |
| Utility Gas |
6,143 |
88.8 |
|
$1,000 to $1,499 |
170 |
10.6 |
| Bottled, Tank, or LP gas |
66 |
1.0 |
|
$1,500 or more |
82 |
5.1 |
| Electricity |
661 |
9.6 |
|
No cash rent |
85 |
5.3 |
| Fuel oil, kerosene, etc. |
7 |
0.1 |
|
Median (dollars) |
616 |
(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 |
25 |
0.4 |
|
Less than 15 percent |
343 |
21.3 |
| No fuel used |
16 |
0.2 |
|
15 to 19 percent |
229 |
14.2 |
| |
|
|
|
20 to 24 percent |
160 |
9.9 |
| SELECTED CHARACTERISTICS |
|
|
|
25 to 29 percent |
96 |
6.0 |
| Lacking complete plumbing facilities |
52 |
0.8 |
|
30 to 34 percent |
84 |
5.2 |
| Lacking complete kitchen facilities |
37 |
0.5 |
|
35 percent or more |
587 |
36.5 |
| No telephone service |
160 |
2.3 |
|
Not computed |
110 |
6.8 |
| |
| -Represent zero or rounds to zero. (X) Not applicable. |
| Source: U.S. Bureau of the Census, Census 2000. |
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