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 $136,000 $169,800
Median Single Family Home Value $140,300 $169,400
Median Condo Value $104,900 $174,600
Median 3-Bedroom Home Value $148,600 $163,000
Percent Homes Decreasing 26.2% 22.7%
Percent Listing Price Reduction 29.5% 28.6%
Median List Price Per Sq Ft $105 $109
Median List Price $165,000 $200,000
Median Sale Price $298,000 $196,800
Homes For Sale 0 0
Homes Recently Sold 0 0
Property Tax $3,593 $2,082
Turnover (Sold Within Last Yr.) 4.2% 4.1%
Median Value Per Sq Ft $109 $115
1-Yr. Change -0.3% 5.7%
Homes For Sale By Owner Array Array
New Construction Array Array
Foreclosures Array Array

Melrose Park Real Estate Listings

Active Listings in Melrose Park

2741 Bellwood Avenue MELROSE PARK, IL 60164
Photo of 2741 Bellwood Avenue, MELROSE PARK, IL 60164 (MLS # 08593317)
4 beds 2 baths 1,257 sqft $184,900
1622 N 21st Avenue MELROSE PARK, IL 60160
Photo of 1622 N 21st Avenue, MELROSE PARK, IL 60160 (MLS # 08593216)
2 beds 1 bath 950 sqft $115,899
2959 Sandra Avenue MELROSE PARK, IL 60164
Photo of 2959 Sandra Avenue, MELROSE PARK, IL 60164 (MLS # 08592616)
4 beds 2 baths $189,000
10125 W Medill Avenue MELROSE PARK, IL 60164
2 beds 1 bath $99,000
10919 Belmont Avenue MELROSE PARK, IL 60164
Photo of 10919 Belmont Avenue, MELROSE PARK, IL 60164 (MLS # 08590507)
4 beds 2 baths 2,538 sqft $199,000
1621 N 35th Avenue MELROSE PARK, IL 60160
Photo of 1621 N 35th Avenue, MELROSE PARK, IL 60160 (MLS # 08590313)
2 beds 1 bath 774 sqft $99,900
2129 Scott Street MELROSE PARK, IL 60164
Photo of 2129 Scott Street, MELROSE PARK, IL 60164 (MLS # 08590297)
3 beds 1 bath 1,044 sqft $139,900
1640 N 5th Avenue MELROSE PARK, IL 60160
Photo of 1640 N 5th Avenue, MELROSE PARK, IL 60160 (MLS # 08589368)
3 beds 3 baths 1,918 sqft $224,900
10855 Barry Avenue MELROSE PARK, IL 60164
Photo of 10855 Barry Avenue, MELROSE PARK, IL 60164 (MLS # 08588058)
3 beds 1 bath 1,200 sqft $122,000
1650 Riverwoods Drive ,Unit Number 504 MELROSE PARK, IL 60160
Photo of 1650 Riverwoods Drive ,Unit Number 504, MELROSE PARK, IL 60160 (MLS # 08587673)
1 bed 1 bath $89,900
152 N 24th Avenue MELROSE PARK, IL 60160
Photo of 152 N 24th Avenue, MELROSE PARK, IL 60160 (MLS # 08587232)
3 beds 3 baths 965 sqft $69,500
10800 W Grand Avenue MELROSE PARK, IL 60164
Photo of 10800 W Grand Avenue, MELROSE PARK, IL 60164 (MLS # 08585180)
3 beds 2 baths 1,850 sqft $149,900
1650 Riverwoods Drive ,Unit Number 401 MELROSE PARK, IL 60160
Photo of 1650 Riverwoods Drive ,Unit Number 401, MELROSE PARK, IL 60160 (MLS # 08584942)
2 beds 2 baths $179,900
1650 Riverwoods Drive ,Unit Number 405 MELROSE PARK, IL 60160
Photo of 1650 Riverwoods Drive ,Unit Number 405, MELROSE PARK, IL 60160 (MLS # 08584947)
2 beds 2 baths $189,900
1650 Riverwoods Drive ,Unit Number 706 MELROSE PARK, IL 60160
Photo of 1650 Riverwoods Drive ,Unit Number 706, MELROSE PARK, IL 60160 (MLS # 08584929)
2 beds 2 baths $169,900
1807 Riverwoods Drive ,Unit Number 4 MELROSE PARK, IL 60160
Photo of 1807 Riverwoods Drive ,Unit Number 4, MELROSE PARK, IL 60160 (MLS # 08584963)
2 beds 2 baths $209,900
1829 N 22nd Avenue MELROSE PARK, IL 60160
Photo of 1829 N 22nd Avenue, MELROSE PARK, IL 60160 (MLS # 08584608)
3 beds 1 bath 1,084 sqft $100,000
10113 W Medill Avenue MELROSE PARK, IL 60164
Photo of 10113 W Medill Avenue, MELROSE PARK, IL 60164 (MLS # 08578708)
3 beds 3 baths 2,300 sqft $399,000
1212 N 13th Avenue MELROSE PARK, IL 60160
Photo of 1212 N 13th Avenue, MELROSE PARK, IL 60160 (MLS # 08578167)
4 beds 2 baths 1,344 sqft $175,000
2311 Ruby Street MELROSE PARK, IL 60164
Photo of 2311 Ruby Street, MELROSE PARK, IL 60164 (MLS # 08577616)
4 beds 2 baths 1,128 sqft $219,900

Walk Score for Melrose Park



Melrose Park School Data

Melrose Park School Districts

Maywood-Melrose Park-Broadview 89
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
H McNelty School of First Baptist
PK-8, private
Word of God Christian Academy
1-10, private
St. Paul Lutheran School
PK-8, private

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

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