The story of this market
The typical home in ZIP 60602 sells for about $340,000, or $372 per square foot.
Prices are down 2.1% from a year ago, which gives buyers more room to negotiate. Homes take about 68 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $2,498 a month.
ZIP 60602 — Chicago
The 60602 housing market is characterized by a high-density inventory of condos and luxury apartments with stable pricing. Demand remains steady among urban professionals, though high interest rates and a surplus of downtown rental inventory have tempered sales velocity.
This ZIP is ideal for urban professionals and commuters who prioritize proximity to the central business district, transit, and high-end cultural amenities over traditional suburban space.
Median prices moved down 2.1% year over year.
Homes spend a median of 68 days on market with 8.2 months of supply — a slower-moving market.
12% of listings have cut prices · homes sell at 97.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 8.0% · poverty 11.3% — a stable, low-distress profile.
Built from 37 recorded sales in the last 24 months against HUD 3-bedroom fair market rents. The location premium is the part of the price that rent, income, education, employment, vacancy, price trend, hazard, lending and flood risk don't explain. It usually reflects amenities, schools and scarcity. It's area context and does not change this ZIP's home value estimates.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 0.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 2.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 60602, Cook County IL
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
The area experiences high volumes of property crime typical of a dense central business district, though violent crime remains concentrated in specific corridors. Regional comparisons indicate higher incident rates compared to suburban Cook County.
Public schools serving this downtown core are part of Chicago Public Schools, with quality varying significantly by specific attendance boundaries and magnet program access.
The area is primarily urban with low wildfire risk, though it faces standard urban flood risks associated with heavy precipitation and aging infrastructure in the Chicago Loop.
The ZIP is the heart of Chicago's central business district, anchored by major corporate headquarters, government offices, and significant ongoing mixed-use redevelopment projects.
Property taxes are assessed by Cook County based on a triennial reassessment cycle, with rates influenced by the City of Chicago's municipal levies and various overlapping special service areas.
This ZIP is the primary transit hub for the region, offering immediate access to all CTA 'L' lines, Metra commuter rail, and major bus corridors serving the entire Chicago metropolitan area.
Residents have immediate access to Millennium Park, the Chicago Riverwalk, and the extensive Lakefront Trail, alongside world-class shopping on State Street and Michigan Avenue.
The rental market is highly competitive with a mix of luxury high-rise apartments and historic conversions, showing stable demand despite high inventory levels in the downtown core.
The economy is driven by finance, law, government, and professional services, with the Loop serving as the primary employment anchor for the Chicago metropolitan area.
The area is the central hub for the CTA rail system and Metra commuter lines, providing unparalleled regional connectivity.
Development is focused on adaptive reuse of historic office buildings and infrastructure improvements to the downtown transit network.
The Cook County Assessor's Office manages assessments, with properties in the Loop often subject to complex commercial-residential mixed-use valuation formulas.
Parcels are subject to Chicago Public Schools, City of Chicago municipal taxes, and various Special Service Areas (SSAs) for downtown maintenance.
Insurance premiums are standard for urban high-rise environments, with costs primarily driven by fire and liability coverage requirements.
Data retrieved from data.census.gov ZCTA 60602 profile.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Navy Pier4.61.4 mi
- Museum of Illusions Chicago4.60.1 mi
- Dave & Buster's Rosemont4.313.9 mi
- Sloomoo Institute - Chicago4.51 mi
- Color Factory Chicago4.70.5 mi
- Navy Pier4.61.4 mi
- Wrigley Field4.84.7 mi
- United Center4.72.3 mi
- Soldier Field4.51.6 mi
- McCormick Place4.52.2 mi
- Navy Pier4.61.4 mi
- Wrigley Field4.84.7 mi
- Millennium Park4.80.3 mi
- Shedd Aquarium4.51.3 mi
- Willis Tower4.50.5 mi
- Navy Pier4.61.4 mi
- Shedd Aquarium4.51.3 mi
- The Art Institute of Chicago4.80.4 mi
- Field Museum4.71.3 mi
- Griffin Museum of Science and Industry4.76.8 mi
- Millennium Park4.80.3 mi
- Garfield Park Conservatory4.84.5 mi
- Maggie Daley Park4.70.5 mi
- Grant Park4.70.8 mi
- Lincoln Park Conservatory4.82.8 mi
- First Lady4.80.4 mi
- Montrose Harbor4.75.5 mi
- DuSable Harbor4.60.9 mi
- Belmont Harbor4.74.2 mi
- Rockwell on the River4.74.9 mi
- Puttery4.71.1 mi
- Douglass (Anna & Frederick) Park4.43.9 mi
- Sydney R. Marovitz Golf Course3.84.8 mi
- Indian Boundary Golf Course4.111.7 mi
- Billy Caldwell4.110 mi
- Water Tower Place4.51 mi
- Christkindlmarket Chicago4.20.1 mi
- Eataly4.30.6 mi
- Nordstrom4.40.6 mi
- Harlem Irving Plaza4.410.5 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area ranked by popularity within the radius shown.
Iconic public space featuring the Cloud Gate sculpture and Pritzker Pavilion.
A multi-use public space along the main branch of the Chicago River.
Historic retail corridor featuring major department stores and boutiques.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.