Arthur, Home Buyer in Chicago, IL

Will Clarendon Hills and Burr Ridge appreciate anywhere near Hinsdale over the next 20 years or so? Assumption that all areas go to D. 181 schools.

Asked by Arthur, Chicago, IL Fri Feb 12, 2010

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In my opinion, you'll see more similarity in the rates of appreciation between Clarendon Hills & Hinsdale than Burr Ridge for a couple of reasons. First, because Hinsdale and Clarendon Hills are more established communities with clear boundries and no room to grow outward. When there is little to no land left to develop, the exisiting land becomes more valuable, increasing overall property values. Also, Clarendon Hills is becoming more of a destination for young families moving out from the city, rather than a second choice to Hinsdale because of affordability. Burr Ridge continues to have a large amount of new construction and land to develop, so the existing homes will be competing with a large volume of new construction for years to come, slowing the rate of appreciation when compared to Hinsdale & Clarendon Hills.
1 vote Thank Flag Link Fri Feb 12, 2010
Just thinking about moving from Hinsdale to CH or Burr Ridge, to get a little bigger home and lot...

Thanks for the help...
0 votes Thank Flag Link Fri Feb 12, 2010
Actually I just want to see if people thought CH and Burr Ridge would appreciate as much as Hinsdale over the next 20 years...I know how the pricing is different...

Basically, If I bought a $1.5 home in CH, Burr Ridge and Hinsdale, how much more would hinsdale appreciate over the next 20 years...

Assuming all District 181 schools and Hins. Central
0 votes Thank Flag Link Fri Feb 12, 2010
Therr are too many variables to project that far out in the future with any kind of certainty however given that it is extremely likely that $1.5M would today buy a larger newer home in the portion of Clarendon Hills than the same amount would buy in Hinsdale or Burr Ridge it is very likely that the rate of appreciation of the CH property would greatly out pace the appreciation of the older smaller home...
Flag Tue Aug 27, 2013
Over the past 6 months, the average sale price in Clarendon Hills for single family homes was $521,459, while in Hinsdale it was $885,836. Of the transactions, only 5 homes over a million dollars were sold in Clarendon Hills while in Hinsdale there were 36. Burr Ridge is a little different. There are 4 different school districts that you could attend in Burr Ridge, depending on which area you are in. If we look at the section of Burr Ridge that attends 181, the average sale price over the past 6 months was $1,189,800. In Burr Ridge as a whole, the average sale price was $890,407. Part of the gap in sale prices in Clarendon Hills can be attributed to the availability of new construction. As the market continues to rebound and more new product is available, I think we will likely see that average number rise.

Does this help?

Valerie Karpeck
0 votes Thank Flag Link Fri Feb 12, 2010
Val:

Did you exclude the portions of Clarendon Hills that attend schools other than 181?

My analysis suggests the average price in Clarendon Hills is much closer to Hinsdale when you do that calculation.
Flag Tue Aug 27, 2013
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