The story of this market
The typical home in ZIP 60606 sells for about $416,400, or $325 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 58 days to sell. HUD's fair market rent for a two-bedroom is $2,484 a month.
ZIP 60606 — Chicago
The 60606 housing market remains stable, characterized by high-value condo inventory and strong demand from professionals working in the Loop. While inventory is limited, the market is supported by the area's central location and ongoing adaptive reuse projects. Figures for specific metrics like months of supply are estimates based on current listing activity.
This ZIP is ideal for urban professionals, commuters, and investors who prioritize proximity to the city's financial core and cultural amenities over traditional suburban space.
Median prices moved up 2.1% year over year.
Homes spend a median of 58 days on market with 4.2 months of supply — a fast-moving market.
12% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.4% · poverty 4.5% — a stable, low-distress profile.
Built from 63 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 1.4%/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 2.7%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 60606, Cook County IL
The area experiences typical urban crime patterns for Chicago's central business district, with property crime being the primary concern; safety is generally higher during business hours due to high foot traffic.
Public schools serving this downtown area are part of Chicago Public Schools, with access to various magnet and selective-enrollment options, though local neighborhood school quality varies significantly.
The area is primarily urban with low risk for wildfires, but like much of Chicago, it faces risks related to urban flooding during extreme weather events and requires standard property insurance coverage.
As the heart of Chicago's financial district, the area maintains high economic momentum with major corporate headquarters, law firms, and financial institutions, though office-to-residential conversion projects are a key focus for future development.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Illinois) — Property Tax Assessment (Fair Cash Value): Property is assessed at 33 1/3% of its fair cash value. The tax bill is calculated by multiplying the equalized assessed value (EAV) by the aggregate tax rate of the local taxing districts.
This ZIP is centrally located in the Loop, offering unparalleled access to all major CTA 'L' lines, Metra commuter rail stations, and major bus corridors, making it a premier location for transit-oriented commuters.
Residents have immediate access to the Chicago Riverwalk, Millennium Park, and the Lakefront Trail, along with a dense concentration of world-class dining, shopping, and cultural institutions within walking distance.
The rental market is highly competitive with a mix of luxury high-rise apartments and condos; vacancy rates remain low due to the area's desirability for young professionals and corporate relocations.
The economy is anchored by the financial services, legal, and professional services sectors, with the area serving as the primary business hub for the Midwest.
The area is the central hub for the CTA rail system and is served by Union Station and Ogilvie Transportation Center for regional rail access.
Development is focused on urban infill and the adaptive reuse of historic commercial properties into residential and mixed-use spaces.
Cook County utilizes a triennial reassessment cycle for property valuations, which significantly impacts tax liabilities for residential owners.
Parcels are subject to Chicago Public Schools, City of Chicago municipal taxes, and various special service area (SSA) assessments for downtown maintenance.
Property insurance premiums are influenced by urban density and the age of building stock, with standard coverage for fire and liability being mandatory.
Data retrieved from Census Reporter and ACS 5-year tables.
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 Pier4.61.8 mi
- Museum of Illusions Chicago4.60.5 mi
- Dave & Buster's Rosemont4.313.6 mi
- Sloomoo Institute - Chicago4.51.1 mi
- Activate Games4.916.7 mi
- Navy Pier4.61.8 mi
- Wrigley Field4.84.7 mi
- United Center4.71.9 mi
- Soldier Field4.51.7 mi
- McCormick Place4.52.3 mi
- Navy Pier4.61.8 mi
- Wrigley Field4.84.7 mi
- Millennium Park4.80.8 mi
- Shedd Aquarium4.51.5 mi
- Willis Tower4.50.2 mi
- Navy Pier4.61.8 mi
- Shedd Aquarium4.51.5 mi
- The Art Institute of Chicago4.80.8 mi
- Field Museum4.71.5 mi
- Griffin Museum of Science and Industry4.76.9 mi
- Millennium Park4.80.8 mi
- Garfield Park Conservatory4.84.1 mi
- Maggie Daley Park4.70.9 mi
- Grant Park4.71 mi
- Lincoln Park Conservatory4.82.9 mi
- First Lady4.80.8 mi
- Montrose Harbor4.75.6 mi
- DuSable Harbor4.61.3 mi
- Belmont Harbor4.74.3 mi
- Rockwell on the River4.74.7 mi
- Puttery4.70.7 mi
- Douglass (Anna & Frederick) Park4.43.5 mi
- Sydney R. Marovitz Golf Course3.84.9 mi
- Indian Boundary Golf Course4.111.4 mi
- Billy Caldwell4.19.8 mi
- Water Tower Place4.51.3 mi
- Christkindlmarket Chicago4.20.4 mi
- Eataly4.30.9 mi
- Nordstrom4.40.9 mi
- Harlem Irving Plaza4.410.2 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area ranked by popularity within the radius shown.
A major pedestrian-friendly waterfront attraction with dining and recreation.
World-renowned public park featuring the Cloud Gate sculpture and Pritzker Pavilion.
The central commercial hub of Chicago with extensive retail and dining options.
Key-figure check: median price diverges 19.5% from the nearest retained anchor (published ten-year series (2024)) — beyond the 12.5% tolerance; an automated validation case is open and the value publishes pending its verdict. Research outlier held out — this pass returned a median of $335,000 (19.5% off the retained reading), contradicting every independent anchor; the prior reading stands pending corroboration. Validation: the flagged $335,000 (-19.5% vs the published ten-year series (2024)) could not be independently corroborated and was reverted to the prior cycle value pending review; the case is under review in the Command Center.