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Syed, Home Buyer in 60640

Where can I find the value of land per square foot in different parts of Chicago?

Asked by Syed, 60640 Mon Aug 11, 2008

I would like to compare apples-to-apples when it comes to vacant lot values around Chicago. Is there a way that I can research this topic as a non-real estate agent? I think it would be interesting to see how much one square foot of vacant land costs in Lincoln Park, Rogers Park, and Hyde Park.

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In the Cook County Tax records, the land value and the square feet of each parcel ID # is listed. You can compare parcels. It may not be exact and there are multipliers need to be used to see closer to what a real market value may be. Just do some calculations and voila-your answers.
Web Reference: http://www.realtybob.com
1 vote Thank Flag Link Tue Aug 12, 2008
Unfortunately without access to the MLS it can be quit difficult to find land values. The Cook County tax records can be a good start, but not necessarily the best source. The variables are endless. Lot size, location and Zoning are factors. In areas like Lincoln park, there is a premium charge for more then one consecutive lot being sold as a package, or a lot on the 1900 Block of Burling St. is going to go for more then the same size lot on Dayton Street.

The reason the Cook County Tax records will not be the best source in the City of Chicago, is the vast majority of properties that are being sold as land have a pre-existing structure that needs to be torn down. Therefore the Tax records will not have it listed as vacant land, making it very difficult to find the comparisons.

Your best source is a Realtor with access to the MLS.
0 votes Thank Flag Link Tue Aug 26, 2008
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