Property Values in Some Chicago Neighborhoods Drop Far Below Published 10%

October 20, 2009

Daily Real Estate Updates

sudler-sothebys-logo20 October 2009 ? After appraising 2-bedroom condos in Ukranian Village I have found that similar properties have declined. Based on an analysis of the sales in the marketing area occurring from April 16th, 2009 to October 16th, 2009, as compared to the same period 2008, property values have declined approximately 25.92% or 2.16% per month. This information was derived from doing a market analysis for properties similar to the subject over at least a 9 to 12-month period.

The media would like to have the average person believe that property values have declined approximately 10% all over the city of Chicago. When in actuality one needs to break down the property type as well as neighborhood. The number could end up being greater than 10%. This is important information if you are currently looking to purchase in a certain area.

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About Katie Anderson

Katie Anderson is a respected and successful broker at Sudler Sotheby's Realty as well as a certified appraiser. She specializes in representing clients who purchase and sell condominiums, town homes, single-family homes and income property in the Chicago land area. In her small amount time in the real estate game (she became an agent in 2003) she has assisted in excess of 400 deals and over $200 million in sales and continues to use her skills as a certified appraiser. Katie resides in Chicago's Bucktown neighborhood with her loving husband and 4-year-old-daughter, where she spends much of her spare time with her family and friends. You can contact her at or at

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