It was once easy to find a home for less than $300,000 in neighborhoods like West Loop, West Town, and the eastern portion of Humboldt Park. But fierce competition, low inventory, and a tidal wave of new construction has driven prices up in recent years.
Nearby East Garfield Park, however, remains a bargain — and the historic housing stock that lines the area’s boulevard system rivals that of any other iconic Chicago neighborhood.
Despite East Garfield Park’s lower overall total sale prices, housing remains competitive in the area. According to Midwest Real Estate Data, East Garfield Park has seen substantial gains in home appreciation since the low point of the recession, with single family home prices rising by more than 400 percent between 2012 and 2017.
More recent data from Redfin, which accounts for all types of residences, show that the median sale price in the neighborhood over the last 30 days is $238,000.
As a transit-rich neighborhood with plentiful park access — not to mention a beloved attraction in the Garfield Park Conservatory — there’s lots to appreciate about East Garfield Park. And as pressure from surrounding communities mounts, it’s likely that the neighborhood’s affordable housing will lure an increasing number of investors and DIY home buyers to the area.
Here, a few examples of what’s available for less than $300,000 in the neighborhood.
This modest 19th century row home goes big on historic charm and outdoor space. The narrow home boasts four bedrooms with one and a half bathrooms over 2,400 square feet of space. In the listing photos, one room appears to have been utilized as a workshop, while the backyard has been lovingly transformed into an urban garden. Its identical twin neighbor sold in July for $260,000.
Just one example of East Garfield’s limestone-clad row homes, this fully remodeled two-flat on Fulton Boulevard features a pair of two-bedroom apartments. All mechanicals have been upgraded, including heating, plumbing, and electrical. There’s also a generous backyard and two-car garage.
For buyers with a taste for newer construction, this massive 2,400-square-foot condo with five bedrooms checks in at just under $300,000. And there’s more: a location steps away from the California Green Line station, a nicely landscaped yard, access to a private deck, and two gated parking spaces.
Ambitious buyers seeking a project need look no further. This beautiful 19th century mansion — built during Chicago’s gilded age — is awaiting a proper restoration. With incredible original finishes, it’s a rare opportunity to own an elegant boulevard home at a price that’s simply impossible to find in other nearby neighborhoods.