The power of 2

Homes from $2 million to $200,000

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In local real estate, some of the most expensive single-family homes are asking close to $2 million. Take a zero off that price tag, and you'll find more affordable offerings hovering around $200,000. 

As expected, what you get for the money varies widely between the two price points, but whether you're looking for an entry-level house or dreaming about an historic estate, these homes represent the variety of housing stock in the near west suburbs.

At the top of the price range for local suburbs, Oak Park currently has one listing over $1.5 million and River Forest four. Riverside, Berwyn and Forest Park have no listings above $1,5 million.

Oak Park wins the prize for most expensive listing with 407 N. Kenilworth Ave., which has an asking price of $2 million. The E. E. Roberts-designed home offers six bedrooms, six bathrooms and over 6,600 square feet of living space. The Queen Anne Victorian is situated on three-quarters of an acre and comes with a wrap-around porch, pool, coach house and solarium.

In River Forest, the most expensive listing, priced a hair below $2 million, is 1105 Park Ave. Built in 1933, the Tudor-style home includes five bedrooms and six bathrooms and over 6,200 square feet. Priced at $1,999,000, the home includes a gourmet kitchen, mudroom, two laundry rooms and an attached, heated garage.

If an estate is not in the budget this summer, the $200,000 price range turns up a few more homes in local suburbs. In the $175,000 to $225,000 price range, Oak Park has three single-family home listings and 22 condos. 

River Forest offers three condos in the price range. In Forest Park, there are four condominiums, one home and one two-flat available in the price range. Berwyn has 24 listings in the range, including 23 single-family homes and one condominium. In Riverside, two townhomes and one single-family home fit the bill.

In Oak Park, 534 S. Harvey Ave. is on the market for $200,000. The three-bedroom, 2.5-bathroom house offers 824 square feet of living space. Built in 1884, the home has a front porch for enjoying summer evenings and is within walking distance to Madison Street and Harrison Street businesses.

Also priced at $200,000 in Oak Park, 717 Washington Blvd., Unit 3A is a condominium in a vintage building. The three-bedroom, two-bathroom space includes original hardwood floors, a fireplace, rear porch and in-unit laundry.

In Berwyn, 2531 Home Ave. is listed for $199,900. The house has two bedrooms, two bathrooms and over 1,000 square feet. The yellow brick bungalow was built in 1926. The home has a new water heater and furnace and is being sold as-is.

In Forest Park, $209,900 will buy you a single-family home at 1017 Harlem Ave. The American four square-style home includes three bedrooms, 1.5 bathrooms, hardwood floors and a remodeled kitchen over 1,400 square feet.

Also, in Forest Park, 132 Marengo Ave. is a one-bedroom, 1.5-bathroom townhome built in 1985. The unit includes hardwood flooring, an updated kitchen and a loft-style master bedroom along with in-unit laundry. The townhome is priced at $179,900 and comes with a private parking spot.

In River Forest, 7344 Lake St., Unit 1E is on the market for $195,000. The two-bedroom, one-bathroom unit is in a vintage brick building dating to 1929. The unit includes an updated kitchen and in-unit laundry and is walking distance to shops and restaurants on Lake Street, as well as the Green Line.

Riverside offers two townhomes in 165 E. Burlington St. priced at $185,000. The brick townhomes were built in 1944 and have updated windows and roofing. The building is within walking distance to downtown shops and the train.

Riverside's third listing in the $200,000 price range is 329 E. Quincy St., a single-family home priced at $184,900. Built in 1943, the home includes four bedrooms, one bathroom and over 1,100 square feet and is ripe for rehabilitation.

A look into recent sales in the area indicates that pricing varies widely according to location. While the $2 million price tag is an outlier in all near west suburbs, depending on where you live, a $200,000 asking price may be more in tune with reality. 

According to Redfin, for the previous month, the average Oak Park sale was for $364,000, with 47 sales recorded. In River Forest, the average sales price was $730,000 with 11 sales. 

In Riverside, the average sales price was $328,000 with eight homes sold in the past month. In Berwyn, the average sales price was $239,000 with 33 homes sold, while Forest Park saw an average sales price of $297,000 with 16 sales.

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