House Prices

Merchant Park Chicago, IL House Prices & Home Values 2026


Average Data

average house price$420,711
average size per house1398 ft²
average price per ft²288 $ / ft²

04/15/2026 - The value range (VR) for house prices in Merchant Park Chicago, IL is $234/ sqft to $331/ sqft. An average home with 1398 sqft costs approximately $312,739 to $442,378. Chicago, IL includes 2 ZIP codes and it is located in Cook county. The lowest prices are found in ZIP 60641, while the highest are in ZIP 60618. The average price per sqare feet is $288. Our analysis is based on 19 property listings.

Avergage prices by ZIP codes Merchant Park Chicago

60618331 $ / ft²
60641234 $ / ft²




Historical development of home values in Merchant Park Chicago

Year Estimated value (USD) Change vs. 2025
2010 $195,386 -53.6%
2011 $187,830 -55.4%
2012 $187,324 -55.5%
2013 $194,326 -53.8%
2014 $203,989 -51.5%
2015 $214,458 -49.0%
2016 $225,650 -46.4%
2017 $237,830 -43.5%
2018 $250,978 -40.3%
2019 $262,616 -37.6%
2020 $276,191 -34.4%
2021 $314,138 -25.3%
2022 $366,214 -13.0%
2023 $386,190 -8.2%
2024 $408,532 -2.9%
2025 $420,711 0.0%

Graph: estimated home values in Merchant Park Chicago over time (USD)



Example: 100% financing house in Merchant Park Chicago

Loan amount: $420,711

Interest rate: 5.74%

Fixed monthly payment: $2,451.41

Breakdown in the 1st month:
Interest portion: $2,011.00  –  Principal portion: $440.42

Yearly breakdown (100% financing)

Year Interest per year ($) Principal per year ($) Remaining balance at year-end ($)
1 $23,990.80 $5,426.18 $415,284.82
2 $23,671.24 $5,745.73 $409,539.09
3 $23,332.86 $6,084.11 $403,454.98
4 $22,974.56 $6,442.42 $397,012.55
5 $22,595.15 $6,821.83 $390,190.72
6 $22,193.39 $7,223.58 $382,967.14
7 $21,767.98 $7,649.00 $375,318.14
8 $21,317.51 $8,099.46 $367,218.68
9 $20,840.52 $8,576.46 $358,642.22
10 $20,335.43 $9,081.55 $349,560.67
11 $19,800.60 $9,616.38 $339,944.29
12 $19,234.27 $10,182.71 $329,761.58
13 $18,634.58 $10,782.39 $318,979.18
14 $17,999.58 $11,417.39 $307,561.79
15 $17,327.19 $12,089.79 $295,472.00
16 $16,615.19 $12,801.79 $282,670.22
17 $15,861.27 $13,555.71 $269,114.50
18 $15,062.94 $14,354.04 $254,760.46
19 $14,217.60 $15,199.38 $239,561.08
20 $13,322.47 $16,094.51 $223,466.58
21 $12,374.63 $17,042.35 $206,424.23
22 $11,370.97 $18,046.01 $188,378.21
23 $10,308.19 $19,108.78 $169,269.43
24 $9,182.83 $20,234.14 $149,035.29
25 $7,991.20 $21,425.78 $127,609.51
26 $6,729.39 $22,687.59 $104,921.92
27 $5,393.26 $24,023.71 $80,898.21
28 $3,978.45 $25,438.53 $55,459.68
29 $2,480.32 $26,936.66 $28,523.02
30 $893.96 $28,523.02 $0.00

Note: The calculation is based on a standard annuity mortgage with a fixed monthly payment over the entire term. Extra payments, interest rate changes, and additional purchase costs (e.g. taxes, notary fees) are not included.


How to sell in Merchant Park Chicago, IL


1500 sqft3900 sqft
Ø selling price$499,721$1,063,042
Ø fast selling$454,292$956,738
Ø high price sale$545,150$1,169,346

In 2026, houses in Merchant Park Chicago, IL will be offered at an average price of $288 per square foot. A 1,500 sqft home priced at $499,721 is 21.99% more expensive per square foot than a 3,900 sqft home priced at $1,063,042. Home prices in Merchant Park Chicago, IL vary significantly depending on the property’s condition and exact location. For a quick sale, a 2,700 sqft home should be listed at around $735,952. Sellers who can wait longer may achieve a higher price of up to $899,497.


Merchant Park, Chicago IL Neighborhood Guide

Overview

Merchant Park in Chicago, IL is a welcoming neighborhood known for its residential charm and community spirit.

Homebuyers and renters appreciate the mix of classic Chicago bungalows, two-flats, and updated single-family homes.

Tree-lined streets and well-kept lawns create a calm atmosphere close to the energy of the city.

Lifestyle & Amenities

Residents of the Merchant Park neighborhood enjoy convenient access to local parks, playgrounds, and pocket green spaces.

A growing selection of nearby cafes, family-owned restaurants, and everyday services makes running errands and dining out simple.

Weekend routines often include farmer?s markets, fitness studios, and community events that help neighbors stay connected.

Connectivity & Transportation

Commuters value straightforward connections to downtown Chicago via CTA buses, nearby train stations, and major roadways.

Bike-friendly streets and walkable blocks add to the neighborhood?s appeal for active lifestyles and short trips.

Real Estate & Living

The Merchant Park real estate market features competitive pricing for Chicago, with options for first-time buyers and move-up shoppers.

Whether you are seeking a starter condo or a renovated single-family home, Merchant Park offers a comfortable, city-centered place to live.



FAQ – Home Values in Merchant Park Chicago

What is the median home value in Merchant Park Chicago in 2026?

In 2026, the typical home value in Merchant Park Chicago is about $420,711 for an average home size of 1398 square feet. This corresponds to an average price of roughly $288 per square foot.

What is the average cost per square foot in Merchant Park Chicago?

In 2026, homes in Merchant Park Chicago sell for an average of around $288 per square foot, with a typical range between $234 and $331 per square foot, depending on the property’s location, condition, and lot size.

What is the average home size in Merchant Park?

The average home size in Merchant Park Chicago is about 1398 square feet, with an estimated 2026 value around $420,711.



Neighborhoods close to Merchant Park Chicago, IL

Chicago Lawn Chicago, IL187 $ / ft²
St. Clair Gardens East Saint Louis, IL43 $ / ft²
Hyde Park Chicago, IL158 $ / ft²
Tanner Trails North Aurora, IL183 $ / ft²
Downtown Oak Lawn Oak Lawn, IL130 $ / ft²
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