ZIP 60516 Housing Market Report
Chicago Metro
Report period: August 2026
60516 Monthly Market Update – August 2026
ZIP 60516 · Last updated Aug 11, 2026 · Data range Mar 2026 – Aug 2026
Executive Snapshot
Median Sale Price
$485,000
−2.8%
Median DOM (Sales)
5
0.0%
New Listings (Sales)
23
−46.5%
Median Rent
$1,822
−0.1%
Median DOM (Rental)
1
0.0%
Total Rental Listings
113
0.0%
Month-over-Month Movement
Median sale prices eased compared to last month. Rents softened.
What's Moving Fastest
- Fastest selling: Condo (1 DOM)
- Fastest renting: Apartment (1 DOM)
- Strongest bedroom: 5 Beds ($1,150,000 median)
Sales Market Overview
Median Price
$485,000
−2.8%
Median DOM
5
0.0%
New Listings
23
−46.5%
Inventory
105
+5.0%
- Average Price: $540,622
- Median Price: $485,000
- Price Range: $99,000 – $1,850,000
- Price per Sq Ft (Avg/Median): $283 / $268
- Square Footage (Avg/Median): 2,038 / 1,863
- Square Footage Range: 800 – 7,207
- Days on Market (Avg/Median): 25 / 5
- Days on Market Range: 1 – 351
- New Listings: 23
- Total Listings: 105
Sales by Property Type
Condo
Avg/Median Price$292,692 / $250,000Range$199,900 – $859,900Price per Sq Ft$243 / $234Sq Ft1,177 / 1,024DOM16 / 1New4Total13
Land
Avg/Median Price$395,280 / $329,000Range$99,000 – $900,000Price per Sq Ft—Sq Ft—DOM117 / 33New0Total10
Single Family
Avg/Median Price$614,509 / $550,000Range$215,000 – $1,850,000Price per Sq Ft$291 / $281Sq Ft2,211 / 2,100DOM18 / 4New18Total76
Townhouse
Avg/Median Price$384,133 / $289,900Range$235,000 – $850,000Price per Sq Ft$260 / $247Sq Ft1,507 / 1,288DOM22 / 11New1Total6
Sales by Bedroom Count
1 Beds
Avg:$395,000Median:$395,000Range:$395,000 – $395,000PSF:$414 / $414Sq Ft:955 / 955DOM:341 / 341New:0Total:1
2 Beds
Avg:$261,765Median:$250,000Range:$199,900 – $374,900PSF:$240 / $244Sq Ft:1,098 / 1,024DOM:17 / 1New:6Total:17
3 Beds
Avg:$512,748Median:$479,900Range:$249,900 – $1,200,000PSF:$301 / $294Sq Ft:1,786 / 1,723DOM:12 / 5New:7Total:45
4 Beds
Avg:$697,958Median:$629,900Range:$450,000 – $1,350,000PSF:$281 / $273Sq Ft:2,554 / 2,471DOM:17 / 1New:8Total:26
5 Beds
Avg:$1,209,580Median:$1,150,000Range:$499,000 – $1,850,000PSF:$266 / $257Sq Ft:4,426 / 3,481DOM:11 / 1New:2Total:5
6 Beds
Avg:$699,000Median:$699,000Range:$699,000 – $699,000PSF:$193 / $193Sq Ft:3,628 / 3,628DOM:1 / 1New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $395,000 | $395,000 | $395,000 – $395,000 | $414 / $414 | 955 / 955 | 341 / 341 | 0 | 1 |
| 2 Beds | $261,765 | $250,000 | $199,900 – $374,900 | $240 / $244 | 1,098 / 1,024 | 17 / 1 | 6 | 17 |
| 3 Beds | $512,748 | $479,900 | $249,900 – $1,200,000 | $301 / $294 | 1,786 / 1,723 | 12 / 5 | 7 | 45 |
| 4 Beds | $697,958 | $629,900 | $450,000 – $1,350,000 | $281 / $273 | 2,554 / 2,471 | 17 / 1 | 8 | 26 |
| 5 Beds | $1,209,580 | $1,150,000 | $499,000 – $1,850,000 | $266 / $257 | 4,426 / 3,481 | 11 / 1 | 2 | 5 |
| 6 Beds | $699,000 | $699,000 | $699,000 – $699,000 | $193 / $193 | 3,628 / 3,628 | 1 / 1 | 0 | 1 |
Rental Market Overview
Median Rent
$1,822
−0.1%
Median DOM
1
0.0%
New Listings
41
Inventory
113
0.0%
- Average Rent: $1,896
- Median Rent: $1,822
- Rent Range: $1,379 – $3,600
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 979 / 961
- Square Footage Range: 700 – 2,603
- Days on Market (Avg/Median): 4 / 1
- Days on Market Range: 1 – 244
- New Listings: 41
- Total Listings: 113
Rentals by Property Type
Apartment
$1,783
Median DOM: 1
Inventory: 101
MoM: −0.1%
Condo
$1,750
Median DOM: 13
Inventory: 3
MoM: −0.1%
Single Family
$3,450
Median DOM: 1
Inventory: 4
MoM: −0.1%
Townhouse
$2,600
Median DOM: 1
Inventory: 5
MoM: −0.1%
Apartment
Avg/Median Rent$1,806 / $1,783Range$1,379 – $2,379Rent per Sq Ft$2 / $2Sq Ft925 / 907DOM3 / 1New37Total101
Condo
Avg/Median Rent$1,817 / $1,750Range$1,700 – $2,000Rent per Sq Ft$2 / $2Sq Ft1,033 / 980DOM30 / 13New0Total3
Single Family
Avg/Median Rent$3,362 / $3,450Range$2,900 – $3,600Rent per Sq Ft$2 / $2Sq Ft2,024 / 1,850DOM13 / 1New2Total4
Townhouse
Avg/Median Rent$2,585 / $2,600Range$2,100 – $3,000Rent per Sq Ft$2 / $2Sq Ft1,264 / 1,200DOM9 / 1New2Total5
Rentals by Bedroom Count
1 Beds
Avg:$1,706Median:$1,663Range:$1,379 – $2,175PSF:$2 / $2Sq Ft:769 / 750DOM:6 / 1New:21Total:51
2 Beds
Avg:$1,911Median:$1,835Range:$1,666 – $2,379PSF:$2 / $2Sq Ft:1,083 / 1,031DOM:2 / 1New:17Total:54
3 Beds
Avg:$2,700Median:$2,900Range:$2,100 – $3,000PSF:$2 / $2Sq Ft:1,438 / 1,200DOM:14 / 19New:1Total:5
4 Beds
Avg:$3,550Median:$3,500Range:$3,500 – $3,600PSF:$2 / $1Sq Ft:2,152 / 1,700DOM:10 / 1New:1Total:2
5 Beds
Avg:$3,450Median:$3,450Range:$3,450 – $3,450PSF:$2 / $2Sq Ft:1,943 / 1,943DOM:1 / 1New:1Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $1,706 | $1,663 | $1,379 – $2,175 | $2 / $2 | 769 / 750 | 6 / 1 | 21 | 51 |
| 2 Beds | $1,911 | $1,835 | $1,666 – $2,379 | $2 / $2 | 1,083 / 1,031 | 2 / 1 | 17 | 54 |
| 3 Beds | $2,700 | $2,900 | $2,100 – $3,000 | $2 / $2 | 1,438 / 1,200 | 14 / 19 | 1 | 5 |
| 4 Beds | $3,550 | $3,500 | $3,500 – $3,600 | $2 / $1 | 2,152 / 1,700 | 10 / 1 | 1 | 2 |
| 5 Beds | $3,450 | $3,450 | $3,450 – $3,450 | $2 / $2 | 1,943 / 1,943 | 1 / 1 | 1 | 1 |
6-Month Sales Trend
Mar 2026
Median Price:$475,000Median DOM:13New:21Total:82
Apr 2026
Median Price:$475,000Median DOM:12New:31Total:90
May 2026
Median Price:$450,000Median DOM:7New:42Total:96
Jun 2026
Median Price:$465,000Median DOM:5New:46Total:100
Jul 2026
Median Price:$499,000Median DOM:5New:43Total:100
Aug 2026
Median Price:$485,000Median DOM:5New:23Total:105
6-Month Rental Trend
Mar 2026
Median Rent:$1,723Median DOM:1New:97Total:119
Apr 2026
Median Rent:$1,761Median DOM:1New:100Total:129
May 2026
Median Rent:$1,772Median DOM:1New:67Total:125
Jun 2026
Median Rent:$1,824Median DOM:1New:85Total:113
Jul 2026
Median Rent:$1,824Median DOM:1New:80Total:113
Aug 2026
Median Rent:$1,822Median DOM:1New:41Total:113
Key Market Takeaways
Median sale prices softened this month while inventory expanded. Days on market were unchanged, signaling steady buyer activity. Rental pricing eased, while total rental inventory was flat.
Market data is only valuable if you act on it. With pricing stabilizing and days on market shifting, this is the type of environment where disciplined investors find their edge.
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