Melrose Park Real Estate Analysis

Melrose Park is a village in Cook County, Illinois, United States. It is a suburb of Chicago. Melrose Park has long been home to a large Italian-American population, though now it is majority Mexican-American. The suburb was the home of Kiddieland Amusement Park from 1929 until 2010, and the current home of Maywood Park Racetrack, Shrine of Our Lady of Mt. Carmel, and Stern Pinball, Inc., which is now the world’s last manufacturer of coin-operated pinball machines.[1]

There is a Metra railroad station in Melrose Park with daily service to Chicago. Melrose Park is home to two hospitals, Westlake Hospital and Gottlieb Memorial Hospital.

Geography

According to the 2010 census, the village has a total area of 4.24 square miles (11.0 km2), all land.

Demographics

As of the census[5] of 2000, there were 23,171 people, 7,631 households, and 5,448 families residing in the village. The population density was 5,465.7 people per square mile (2,110.0/km²). There were 7,905 housing units at an average density of 1,864.7 per square mile (719.8/km²). The racial makeup of the village was 71.53% White, 2.92% African American, 0.49% Native American, 1.99% Asian, 0.01% Pacific Islander, 20.08% from other races, and 2.97% from two or more races. Hispanic or Latino of any race were 53.88% of the population.

There were 7,631 households out of which 37.5% had children under the age of 18 living with them, 51.8% were married couples living together, 12.7% had a female householder with no husband present, and 28.6% were non-families. 24.1% of all households were made up of individuals and 9.5% had someone living alone who was 65 years of age or older. The average household size was 3.03 and the average family size was 3.61.

In the village the population was spread out with 27.4% under the age of 18, 11.6% from 18 to 24, 32.6% from 25 to 44, 17.5% from 45 to 64, and 10.9% who were 65 years of age or older. The median age was 31 years. For every 100 females there were 100.6 males. For every 100 females age 18 and over, there were 99.3 males.

The median income for a household in the village was $40,689, and the median income for a family was $46,963. Males had a median income of $31,353 versus $24,961 for females. The per capita income for the village was $16,206. About 8.7% of families and 10.2% of the population were below the poverty line, including 11.0% of those under age 18 and 10.6% of those age 65 or over.

Melrose Park Real Estate Market Stats

Average Home Values

Price Distribution


Home Averages

$298,000 Average Price
1,640Avg Home Size
1953Avg Year Built

Owners vs Renters

 

Local vs National Home Values

 LocalNational
Zillow Home Value Index $147,400 $174,200
Median Single Family Home Value $154,100 $174,000
Median Condo Value $100,700 $177,500
Median 3-Bedroom Home Value $167,400 $167,900
Percent Homes Decreasing 20.8% 26.5%
Percent Listing Price Reduction 21.4% 29.2%
Median List Price Per Sq Ft $110 $112
Median List Price $175,000 $215,000
Median Sale Price $298,000 $211,100
Homes For Sale 0 0
Homes Recently Sold 0 0
Property Tax $3,568 $2,083
Turnover (Sold Within Last Yr.) 4.6% 4%
Median Value Per Sq Ft $116 $120
1-Yr. Change 7.9% 6.3%
Homes For Sale By Owner Array Array
New Construction Array Array
Foreclosures Array Array

Melrose Park Real Estate Listings

Active Listings in Melrose Park

MLS # 08705494 MELROSE PARK, IL 60160
Photo of MLS # 08705494 in MELROSE PARK, IL 60160
3 beds 1 bath 1,100 sqft $97,800
1832 N 23rd Avenue MELROSE PARK, IL 60160
Photo of 1832 N 23rd Avenue, MELROSE PARK, IL 60160 (MLS # 08702796)
3 beds 2 baths $199,900
10417 W Palmer Avenue MELROSE PARK, IL 60164
Photo of 10417 W Palmer Avenue, MELROSE PARK, IL 60164 (MLS # 08701113)
2 beds 1 bath 1,230 sqft $69,900
1408 N 36th Avenue MELROSE PARK, IL 60160
Photo of 1408 N 36th Avenue, MELROSE PARK, IL 60160 (MLS # 08700992)
5 beds 2 baths 761 sqft $140,000
1757 Riverwoods Drive MELROSE PARK, IL 60160
Photo of 1757 Riverwoods Drive, MELROSE PARK, IL 60160 (MLS # 08700511)
2 beds 3 baths $249,900
1804 N 21st Avenue MELROSE PARK, IL 60160
Photo of 1804 N 21st Avenue, MELROSE PARK, IL 60160 (MLS # 08697464)
2 beds 1 bath $119,900
11556 Grand Avenue MELROSE PARK, IL 60164
Photo of 11556 Grand Avenue, MELROSE PARK, IL 60164 (MLS # 08696440)
3 beds 2 baths $159,900
1726 N 14th Avenue MELROSE PARK, IL 60160
Photo of 1726 N 14th Avenue, MELROSE PARK, IL 60160 (MLS # 08696156)
2 beds 1 bath 867 sqft $70,000
2730 Landen Drive MELROSE PARK, IL 60164
Photo of 2730 Landen Drive, MELROSE PARK, IL 60164 (MLS # 08695962)
3 beds 2 baths 2,021 sqft $136,200
1700 Riverwoods Drive ,Unit Number 817 MELROSE PARK, IL 60160
Photo of 1700 Riverwoods Drive ,Unit Number 817, MELROSE PARK, IL 60160 (MLS # 08695775)
2 beds 2 baths $229,900
809 Rowlett Avenue MELROSE PARK, IL 60164
Photo of 809 Rowlett Avenue, MELROSE PARK, IL 60164 (MLS # 08695500)
4 beds 2 baths 1,448 sqft $119,900
1549 N 33rd Avenue MELROSE PARK, IL 60160
Photo of 1549 N 33rd Avenue, MELROSE PARK, IL 60160 (MLS # 08692815)
4 beds 2 baths 1,760 sqft $144,900
1202 N 12th Avenue MELROSE PARK, IL 60160
Photo of 1202 N 12th Avenue, MELROSE PARK, IL 60160 (MLS # 08692574)
4 beds 3 baths 2,608 sqft $395,000
1733 N 22nd Avenue MELROSE PARK, IL 60160
Photo of 1733 N 22nd Avenue, MELROSE PARK, IL 60160 (MLS # 08692081)
3 beds 1 bath 1,000 sqft $147,900
2225 Ruby Street MELROSE PARK, IL 60164
Photo of 2225 Ruby Street, MELROSE PARK, IL 60164 (MLS # 08689118)
2 beds 2 baths 1,000 sqft $127,500
1700 Riverwoods Drive ,Unit Number 810 MELROSE PARK, IL 60160
Photo of 1700 Riverwoods Drive ,Unit Number 810, MELROSE PARK, IL 60160 (MLS # 08687531)
2 beds 2 baths 1,292 sqft $189,000
600 Elsie Drive MELROSE PARK, IL 60160
Photo of 600 Elsie Drive, MELROSE PARK, IL 60160 (MLS # 08686225)
3 beds 2 baths 1,827 sqft $164,900
1700 Riverwoods Drive ,Unit Number 512 MELROSE PARK, IL 60160
Photo of 1700 Riverwoods Drive ,Unit Number 512, MELROSE PARK, IL 60160 (MLS # 08686139)
2 beds 2 baths 1,292 sqft $175,000
3129 Lee Street MELROSE PARK, IL 60164
Photo of 3129 Lee Street, MELROSE PARK, IL 60164 (MLS # 08685415)
3 beds 2 baths 1,125 sqft $139,900
1511 N 12th Avenue MELROSE PARK, IL 60160
Photo of 1511 N 12th Avenue, MELROSE PARK, IL 60160 (MLS # 08685214)
4 beds 3 baths 2,100 sqft $264,900

Walk Score for Melrose Park



Melrose Park School Data

Melrose Park School Districts

Maywood-Melrose Park-Broadview 89 School District
PK-8

Melrose Park Schools

Grant Elementary School
1-6, public
Mannheim Middle School
6-8, public
Scott Elementary School
PK-5, public
Jane Addams Elementary School
PK-8, public
Melrose Park Elementary School
PK-8, public
Stevenson Elementary School
PK-8, public
Sacred Heart School
PK-8, private
http://www.shsmelrosepark.com
Walther Christian Academy
9-12, private
http://www.walther.com
St Paul Lutheran School
PK-8, private
http://www.stpaulmp.org
Grace Montessori School
PK-2, private
H Mcnelty School Of First Baptist
PK-8, private
Word Of God Christian Academy
K-10, private
St. Paul Lutheran School
PK-8, private
Word Of God Christian Academy
K-8, private
Joseph Academy – Melrose Park
n/a, private
Walther Lutheran High School
PK-12, private

Posted on June 15, 2012 at 6:31 pm by Jorge Vigil

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