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
Median Condo Value $109,700 $182,100
Median 3-Bedroom Home Value $197,900 $170,200
Percent Homes Decreasing 0 0
Percent Listing Price Reduction 43.3% 37.4%
Median List Price Per Sq Ft $126 $113
Median List Price $179,900 $214,000
Median Sale Price $298,000 $204,500
Homes For Sale 0 0
Homes Recently Sold 0 0
Property Tax $3,568 $2,082
Turnover (Sold Within Last Yr.) 4% 4%
Median Value Per Sq Ft $116 $120
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 # 08791163 MELROSE PARK, IL 60164
Photo of MLS # 08791163 in MELROSE PARK, IL 60164
4 beds 2 baths $124,900
2037 Louis Street MELROSE PARK, IL 60164
Photo of 2037 Louis Street, MELROSE PARK, IL 60164 (MLS # 08791272)
2 beds 1 bath $108,500
1609 N 17th Avenue MELROSE PARK, IL 60160
Photo of 1609 N 17th Avenue, MELROSE PARK, IL 60160 (MLS # 08790592)
3 beds 2 baths 4,366 sqft $149,900
10231 Dickens Avenue MELROSE PARK, IL 60164
Photo of 10231 Dickens Avenue, MELROSE PARK, IL 60164 (MLS # 08790355)
3 beds 2 baths 1,230 sqft $119,900
1311 N 32nd Avenue Melrose Park, IL 60160
4 beds 2 baths 1,459 sqft $174,900
10600 Montana Avenue MELROSE PARK, IL 60164
Photo of 10600 Montana Avenue, MELROSE PARK, IL 60164 (MLS # 08788176)
3 beds 1 bath 1,296 sqft $184,900
162 N 24th Avenue MELROSE PARK, IL 60160
Photo of 162 N 24th Avenue, MELROSE PARK, IL 60160 (MLS # 08788584)
3 beds 1 bath 1,085 sqft $84,000
10125 W Fullerton Avenue MELROSE PARK, IL 60164
Photo of 10125 W Fullerton Avenue, MELROSE PARK, IL 60164 (MLS # 08786996)
6 beds 3 baths 2,800 sqft $299,000
10122 W Palmer Avenue MELROSE PARK, IL 60164
Photo of 10122 W Palmer Avenue, MELROSE PARK, IL 60164 (MLS # 08774601)
5 beds 2 baths 1,199 sqft $219,900
2721 Landen Drive MELROSE PARK, IL 60164
Photo of 2721 Landen Drive, MELROSE PARK, IL 60164 (MLS # 08773067)
2 beds 1 bath 1,152 sqft $83,900
2003 Ruby Street MELROSE PARK, IL 60164
Photo of 2003 Ruby Street, MELROSE PARK, IL 60164 (MLS # 08772793)
2 beds 1 bath $89,500
1819 N 15th Avenue MELROSE PARK, IL 60160
Photo of 1819 N 15th Avenue, MELROSE PARK, IL 60160 (MLS # 08772015)
3 beds 2 baths 1,218 sqft $79,000
1650 Riverwoods Drive ,Unit Number 606 MELROSE PARK, IL 60160
Photo of 1650 Riverwoods Drive ,Unit Number 606, MELROSE PARK, IL 60160 (MLS # 08772350)
2 beds 2 baths 1,300 sqft $160,000
1123 N 32nd Avenue MELROSE PARK, IL 60160
Photo of 1123 N 32nd Avenue, MELROSE PARK, IL 60160 (MLS # 08770548)
4 beds 2 baths 1,400 sqft $120,000
10530 Diversey Avenue MELROSE PARK, IL 60164
Photo of 10530 Diversey Avenue, MELROSE PARK, IL 60164 (MLS # 08769821)
3 beds 2 baths 1,156 sqft $180,000
1730 N 23rd Avenue MELROSE PARK, IL 60160
Photo of 1730 N 23rd Avenue, MELROSE PARK, IL 60160 (MLS # 08767987)
2 beds 2 baths 939 sqft $189,900
MLS # 08766575 MELROSE PARK, IL 60160
Photo of MLS # 08766575 in MELROSE PARK, IL 60160
3 beds 2 baths 1,371 sqft $230,000
804 Rowlett Avenue MELROSE PARK, IL 60164
Photo of 804 Rowlett Avenue, MELROSE PARK, IL 60164 (MLS # 08763852)
3 beds 2 baths 1,448 sqft $179,900
MLS # 08764484 MELROSE PARK, IL 60164
Photo of MLS # 08764484 in MELROSE PARK, IL 60164
3 beds 2 baths 1,400 sqft $194,900
1832 N 23rd Avenue MELROSE PARK, IL 60160
Photo of 1832 N 23rd Avenue, MELROSE PARK, IL 60160 (MLS # 08761654)
3 beds 2 baths $189,000

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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