Condo vs. Single-Family in Chicago: What September 2026 Sales Show
"Should we buy a condo or a house?" is one of the first questions we hear from buyers, and the answer depends a lot on where you're looking. Here's how September 2026 closed sales compared for single-family homes and condos/townhomes in the areas we cover.
Citywide, condos and houses are closer than you'd think
In the City of Chicago, the median single-family home sold for $375,000 (619 sales) and the median condo or townhome for $400,000 (1,037 sales). That surprises people. Chicago's single-family stock includes a lot of more affordable homes on the south and west sides, while condo sales cluster in pricier lakefront and north-side neighborhoods. Citywide averages hide big differences between neighborhoods.
Neighborhood by neighborhood
| Area | Single-family median | Condo/TH median |
|---|---|---|
| Lincoln Park | $2,342,500 (18 sales) | $725,000 (84 sales) |
| Lake View | $1,940,000 (13) | $532,500 (111) |
| West Town (Wicker Park, Bucktown) | $821,000 (6) | $710,000 (75) |
| Logan Square | $929,000 (14) | $640,000 (37) |
| Near North Side (Gold Coast, River North) | 2 sales | $460,000 (173) |
| Evanston | $795,000 (30) | $320,000 (42) |
| Oak Park | $710,000 (26) | $189,200 (22) |
| Glenview | $805,500 (36) | $386,250 (18) |
| Arlington Heights | $599,000 (45) | $243,750 (32) |
| Schaumburg | $510,000 (30) | $283,000 (53) |
Neighborhoods with only a handful of single-family sales (West Town had 6) can move a lot from month to month. Use these as ranges, not price tags.
What the gap tells you
- In Lincoln Park and Lake View, a single-family home costs roughly three to four times a typical condo. For many buyers, a large condo or duplex-down unit is the realistic way to live in those neighborhoods.
- In the suburbs, condos and townhomes are often less than half the price of a house: about 40% in Evanston and Arlington Heights, under half in Glenview. They're a common way to get into a strong school district before trading up.
- Downtown is almost entirely condos. The Near North Side condo median of $460,000 came with 2.8 months of supply and a 98.8% sold-to-list ratio, so buyers have more room to negotiate there than almost anywhere else we track.
Costs that don't show up in the price
With a condo, compare the monthly assessment (what it covers, and whether there's a special assessment coming), the building's reserves, rental and pet rules, and parking, which is often deeded and priced separately in Chicago. With a house, budget for maintenance (roof, tuckpointing, sewer line) and, in the city, check whether the property needs a water certification at sale. Property taxes vary a lot by township and suburb, so look at the actual bill, not an estimate.
Our mortgage calculator lets you add assessments and taxes so you can compare a condo and a house on the true monthly cost.
Bottom line
Neither is automatically the better investment. The right answer depends on your timeline, how much maintenance you want, and which neighborhood or school district matters most. Tell us what you're weighing and we'll pull current comps for both options. See this month's numbers on the market report, or book a 15-minute call.
Source: Midwest Real Estate Data LLC (MRED), closed sales September 1–30, 2026. Deemed reliable but not guaranteed.
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