A Look at Absorption Rates for 10 Chicago Communities

Before I get started I want to clear up any confusion that may exist when talking about Chicago Communities vs. Chicago Neighborhoods. There is a difference. There are 77 official Chicago Communities and several neighborhoods exist within almost every communities. Last I heard there were roughly 228 neighborhoods within these 77 communities. It gets a little confusing for even some of the locals. For example: When people want to find something around Armitage Ave & Damen Ave I know that they are looking in the Bucktown Neighborhood which is located within the Logan Square Community. A lot of these Communities are also neighborhoods of the same name like Logan Square or Lincoln Park. Here are the absorption rates for 10 communities. If you would ever like me to get more specific for your neighborhood just let me know and I’ll be happy to help. Absorption rates in a healthy market are 22-28 weeks or roughly 5-6 months. Some areas are looking better than others depending on the property type. I looked only at Type 1 and Type 2 properties. Let me know your thoughts.