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Multi-family Foreclosures in Park Forest, IL

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Park Forest, IL Foreclosures

How much do homes sell for in Park Forest, IL?
The average home price is currently $174,583.
In Park Forest, IL, how many homes are available?
There are currently 2,784 active home listings available in Park Forest.
What’s the average rental cost in Park Forest, IL?
The average rental price in Park Forest is $1,280.
What is the most expensive home in Park Forest?
The most expensive home sold in Park Forest had a price of $34,195,938.
What is currently the cheapest priced home in Park Forest, IL?
The cheapest home for sale in Park Forest is priced at $18,415.

Living in Park Forest, IL

Park Forest, IL, is a welcoming suburb with a rich community spirit, ample green spaces, and a variety of local services. With great schools and easy access to transportation, it is ideal for families and professionals alike. The combination of suburban charm and proximity to Chicago offers residents the best of both worlds.

Current Market Conditions in Park Forest, IL

The real estate market in Park Forest has been experiencing a steady increase in home prices, driven by demand from first-time homebuyers and families seeking affordable options near Chicago. Many homes in the area boast spacious yards and mature landscaping, making them appealing to buyers looking for a suburban escape.

As the market continues to grow, new developments are emerging in Park Forest, further enhancing the community's attractiveness. Investors should consider the potential for value appreciation as well as rental opportunities, given the area's appeal to commuters.

Home Value Estimator For Park Forest, IL

There are currently 6,477 real estate properties in Park Forest, IL, with a median automated valuation model (AVM) price of $162,670.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Park Forest, IL, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Park Forest, IL, is $174,583.00, with the most expensive house in Park Forest, IL, topping out at $34,195,938.00 and the cheapest home in Park Forest, IL, clocking in at $18,415.00. In other words, there’s something for every potential homebuyer or savvy investor in Park Forest, IL!

Rent Prices In Park Forest, IL

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Park Forest, IL, is on a rollercoaster ride. The average rent price in Park Forest, IL, is $1,280.00. Indeed, when looking to rent in Park Forest, IL, you can expect to pay as little as $630.00 or as much as $5,420.00, with the average rent median estimated to be $1,290.00. The good news is that finding an affordable and desirable property to rent in Park Forest, IL -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.

Park Forest, IL Multi-family Homes

Market Trend for Park Forest, IL

Total Listings Available: 2,784

Market Values:

Home Prices from $18,415 to $34,195,938

Average Sales Price: $174,583

Rental Values:

Rental from $630 to $5,420

Average Rent Value: $1,280 / month

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