Real Estate Profiles

This section contains the following information:

Zoning Ordinance and Map: This section links to the Department of Zoning’s interactive zoning map and on-line Ordinance. This web-based mapping system allows you to view zoning information for each area of Chicago. You can search for a specific address, intersection or ward; create customized maps; search the Ordinance using key words (for example, "artist"), or view specific chapters of the Ordinance.

Certain types of districts allow for artist live/work space (See Chapter 13: Chicago Zoning Ordinance). While the map cannot tell you exactly how many spaces are available in the area, it will indicate which zoning districts exist, and where they are located.

Residential Lease Rates: Provides a range of residential rental rates in the community. Additional information is available through classifieds in the Chicago Reader, Chicago Tribune and Chicago Sun-Times, as well as small community publications and on Craig’s List. Information is categorized by studio, one, two and three bedroom units.

(Information provided here was compiled by comparing available rental advertisements and from area real estate agents in September 2005):

Commercial/ Industrial Lease Rates: Unlike residential rents, rates for commercial and industrial spaces are based on a cost per square foot on an annual basis. If a 500 square-foot space rents for $5 per square foot on an annual basis, expect to pay $2,500, or around $208 per month, for the space.

You can also review a variety of commercial/industrial listing services such as commercialforum.com, which provides a searchable database of commercial property for sale and/or lease in the Chicago-area, to get an idea of costs. The Certified Commercial Investment Members and Commercial Real Estate Network Websites also list information on commercial and industrial properties. When possible, information in this section will include the lowest lease rate we were able to find, the average lease rate cost, and/or a sample listing of the rates requested for specific properties.

Residential Median Sales Prices: Provides the median sales price of area homes. Detached homes and attached homes (condominiums, lofts and townhouses) are listed separately. As with rental costs, home sale prices may vary dramatically. The median home price is the middle value when you rank sales prices of homes from lowest to highest. A median provides a better picture of the true cost of space than an average, because it is affected less by a few unusually high or low sales. (Information provided here was compiled by area real estate agents.)

Commercial/Industrial Sample Sales Prices: Because styles and sales prices for commercial and industrial buildings vary greatly from property to property, we are unable to provide an accurate assessment of the median sales price for these property types. Instead, we provide a sampling. (Information in this section taken from data compiled by area realtors and a variety of commercial property listing services.)

TIP: Delegate agencies in each community can be valuable sources for finding space and getting an idea on the type of growth, projects and resources a community has to offer.