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Oak Brook, Illinois 60523
The village of Oak Brook is located approximately 16 miles southwest of the Chicago "Loop" in suburban DuPage County. The population was 8,702 at the 2000 census, the village has a total area of 8.3 square miles.
The Village's municipal neighbors include Elmhurst, Lombard and Oakbrook Terrace to the north, Westchester to the east, Hinsdale and Westmont to the south, and Downers Grove to the west. O'Hare International Airport is approximately 11 miles from the Village.
Home to Oak Brook Center shopping mall the village also serves as the headquarters for many national and international companies and organizations, including McDonald's Corporation, Ace Hardware, Federal Signal Corporation, Blistex and Lions Clubs International.
The Butler National Golf Club, former home of the Western Open Golf Tournament, is located off of York Road, south of Cermak Road. the course was designed by Tom Fazio.
Property owners pay no property tax to the Village, as Village services are funded primarily by sales tax receipts.
According to data from the Northern Illinois MLS there were 67 sales of single family detached homes in 2007, The sales volume was up from 59 sales in 2006. Sales prices saw a decrease with the average 2007 sales price at $1,128,583.00, compared to $1,260,947.00 in 2006. Marketing times were an average of 230 days on the market, up over the 2006 average of 148 days.
As of January 16, 2008 there are 76 active listings of detached homes in the MLS. At the 2007 level of absorption this is 13.62 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 +11.94%, average sales prices were down -10.49%, and the days on the market were up +55.40%. This market is oversupplied and the 76 active listings have already been on the market an average of 283 days.
Attached homes and condominiums had 61 sales in 2007, similar to 60 in 2006. The average sales price was $292,019.00, this was a decrease from $355,886.00 in 2006. Marketing times were an average of 110 days on the market, double the 2006 average of 54 days.
There are 85active listings of townhouses & condo's. At the 2007 level of absorption of 5.08 sales per month there is 16.73 months of available inventory.
The available inventory in the condo/townhouse market is very oversupplied, sales volume is stable, sales prices declined -17.94%, days on market are up +103.70%, the 85 active condo listings have already been on the market an average of 223 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.
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 Oak Brook, IL. 60523. Our appraisers are certified by the State of Illinois. We have experience with all types of residential property and appraise single family homes, townhouses, condominiums as well as small residential income properties. When you need to find an appraiser in Dupage County contact Citywide.
To order an appraisal or to speak with an appraiser call 1-800-405-9718
Village of Oak Brook Website
| Geographic Area: Oak Brook, Dupage County, Illinois 60523 5-Digit ZCTA |
| |
| Total housing units |
3,959 |
100.0 |
|
OCCUPANTS PER ROOM |
|
|
| UNITS IN STRUCTURE |
|
|
|
Occupied housing units |
3,813 |
100.0 |
| 1-unit, detached |
2,474 |
62.5 |
|
1.00 or less |
3,798 |
99.6 |
| 1-unit, attached |
598 |
15.1 |
|
1.01 to 1.50 |
7 |
0.2 |
| 2 units |
10 |
0.3 |
|
1.51 or more |
8 |
0.2 |
| 3 or 4 units |
23 |
0.6 |
|
|
|
|
| 5 to 9 units |
8 |
0.2 |
|
Specified owner-occupied units |
2,785 |
100.0 |
| 10 to 19 units |
54 |
1.4 |
|
VALUE |
|
|
| 20 or more units |
792 |
20.0 |
|
Less than $50,000 |
11 |
0.4 |
| Mobile home |
0 |
0.0 |
|
$50,000 to $99,999 |
29 |
1.0 |
| Boat, RV, van, etc. |
0 |
0.0 |
|
$100,000 to $149,999 |
8 |
0.3 |
| |
|
|
|
$150,000 to $199,000 |
88 |
3.2 |
| YEAR STRUCTURE BUILT |
|
|
|
$200,000 to $299,999 |
442 |
15.9 |
| 1999 to March 2000 |
34 |
0.9 |
|
$300,000 to $499,999 |
644 |
23.1 |
| 1995 to 1998 |
79 |
2.0 |
|
$500,000 to $999,999 |
1,175 |
42.2 |
| 1990 to 1994 |
189 |
4.8 |
|
$1,000,000 or more |
388 |
13.9 |
| 1980 to 1989 |
1,022 |
25.8 |
|
Median (dollars) |
558,700 |
(x) |
| 1970 to 1979 |
1,553 |
39.2 |
|
|
|
|
| 1960 to 1969 |
648 |
16.4 |
|
MORTGAGE STATUS AND SELECTED |
|
|
| 1940 to 1959 |
340 |
8.6 |
|
MONTHLY OWNER COSTS |
|
|
| 1939 or earlier |
94 |
2.4 |
|
With a mortgage |
1,757 |
63.1 |
| |
|
|
|
Less than $300 |
0 |
0.0 |
| ROOMS |
|
|
|
$300 to $499 |
0 |
0.0 |
| 1 room |
191 |
4.8 |
|
$500 to $699 |
0 |
0.0 |
| 2 rooms |
88 |
2.2 |
|
$700 to $999 |
54 |
1.9 |
| 3 rooms |
214 |
5.4 |
|
$1,000 to $1,499 |
182 |
6.5 |
| 4 rooms |
54 |
1.4 |
|
$1,500 to $1,999 |
274 |
9.8 |
| 5 rooms |
333 |
8.4 |
|
$2,000 or more |
1,247 |
44.8 |
| 6 rooms |
506 |
12.8 |
|
Median (dollars) |
2,963 |
(x) |
| 7 rooms |
533 |
13.5 |
|
Not mortgaged |
1,028 |
36.9 |
| 8 rooms |
519 |
13.1 |
|
Median (dollars) |
837 |
(x) |
| 9 or more rooms |
1,521 |
38.4 |
|
|
|
|
| Median (rooms) |
7.6 |
(x) |
|
SELECTED MONTHLY OWNER COSTS |
|
|
| |
|
|
|
AS A PERCENTAGE OF HOUSEHOLD |
|
|
| Occupied Housing Units |
3,813 |
100.0 |
|
INCOME IN 1999 |
|
|
| YEAR HOUSEHOLDER MOVED INTO UNIT |
|
|
|
Less than 15 percent |
1,126 |
40.4 |
| 1999 to March 2000 |
324 |
8.5 |
|
15 to 19 percent |
498 |
17.9 |
| 1995 to 1998 |
679 |
17.8 |
|
20 to 24 percent |
273 |
9.8 |
| 1990 to 1994 |
724 |
19.0 |
|
25 to 29 percent |
119 |
4.3 |
| 1980 to 1989 |
1,207 |
31.7 |
|
30 to 34 percent |
139 |
5.0 |
| 1970 to 1979 |
664 |
17.4 |
|
35 percent or more |
613 |
22.0 |
| 1969 or earlier |
215 |
5.6 |
|
Not computed |
17 |
0.6 |
| |
|
|
|
|
|
|
| VEHICLES AVAILABLE |
|
|
|
Specified renter-occupied units |
578 |
100.0 |
| None |
364 |
9.5 |
|
GROSS RENT |
|
|
| 1 |
774 |
20.3 |
|
Less than $200 |
56 |
9.7 |
| 2 |
1,487 |
39.0 |
|
$200 to $299 |
56 |
9.7 |
| 3 or more |
1,188 |
31.2 |
|
$300 to $499 |
307 |
53.1 |
| |
|
|
|
$500 to $749 |
52 |
9.0 |
| HOUSE HEATING FUEL |
|
|
|
$750 to $999 |
49 |
8.5 |
| Utility Gas |
3,099 |
81.3 |
|
$1,000 to $1,499 |
41 |
7.1 |
| Bottled, Tank, or LP gas |
0 |
0.0 |
|
$1,500 or more |
0 |
0.0 |
| Electricity |
696 |
18.3 |
|
No cash rent |
17 |
2.9 |
| Fuel oil, kerosene, etc. |
7 |
0.2 |
|
Median (dollars) |
403 |
(x) |
| Coal or coke |
11 |
0.3 |
|
|
|
|
| Wood |
0 |
0.0 |
|
GROSS RENT AS A PERCENTAGE OF |
|
|
| Solar energy |
0 |
0.0 |
|
HOUSEHOLD INCOME IN 1999 |
|
|
| Other fuel |
0 |
0.0 |
|
Less than 15 percent |
71 |
12.3 |
| No fuel used |
0 |
0.0 |
|
15 to 19 percent |
95 |
16.4 |
| |
|
|
|
20 to 24 percent |
98 |
17.0 |
| SELECTED CHARACTERISTICS |
|
|
|
25 to 29 percent |
67 |
11.6 |
| Lacking complete plumbing facilities |
9 |
0.2 |
|
30 to 34 percent |
43 |
7.4 |
| Lacking complete kitchen facilities |
0 |
0.0 |
|
35 percent or more |
187 |
32.4 |
| No telephone service |
0 |
0.0 |
|
Not computed |
17 |
2.9 |
-Represent zero or rounds to zero. (X) Not applicable. Source: U.S. Bureau of the Census, Census 2000, Summary File 3. |
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