There is so much to see and do on the Riverwalk and it would be a shame to miss the good parts. We’ve put together the best walking route through the riverside park and into downtown Naperville, which ticks off the best parking, the rotary tower, the quarry, the centennial beach, historical monuments, resting spots, and the perfect places to grab a coffee or bite to eat along the way. 

Walk with us and we’ll show you how it’s done! 

Scroll to the end for a printable map. It includes the full walking route and all the destinations mapped out along the way. 

Self Guided Tour of The Naperville Riverwalk 

1. Park at the Naperville Riverwalk Parking 

This parking spot usually has spaces because it’s not right in the middle of downtown. There is also plenty of accessible parking, which is unrestricted. Parking is free for two hours from Monday-Friday between 7:00 am – 4:00 pm. That might not sound like long, but without any stops, the riverwalk itself only takes half an hour. 

If you prefer a leisurely stroll or plan to make a long stop to paddle boat or hang out on centennial beach, then you can find all day parking at the Municipal Center Parking (again, free). And don’t worry because you can simply do the walking tour in reverse! 

2. Find the hidden woodland pathway

Start at the Veteran of Foreign Wars Center, or in the parking bays just in front of it. Walk alongside the parking bays with the center on your right and the Grand Pavilion (a sheltered picnic spot) on your left. You’ll come to a small roundabout, where you’ll find a paved footpath through a woodland, heading towards the river. The old halogen style street lamps will have you feeling like you just stepped back a few decades in time to discover the charming river walk. 

3. Stroll along the DuPage River 

Through the short woodland path, you’ll break out onto the DuPage Riverwalk. Bear left and stroll the DuPage River, with the river bank to your right. You should be heading back towards Naperville downtown. Hint: Follow the flow of the river and keep it on your right.

You’ll head back past the Grand Pavilion, a playground, and the ice skating rink (which is retired in the summer). You’ll notice there are so many different kinds of trees planted throughout the riverwalk, thanks to the thoughtful park planning. If you’re with little ones you can make a game of counting how many different types you see!

4. Cross over at the Moser Tower Bridge

When you reach the first bridge over the river, cross it! It’ll take you over to the Moser Tower and the quarries. You can’t miss it because the Moser Tower is just shy of 160ft tall. 

5. Enjoy the Quarry, Moser Tower & Rotary Hill 

The Moser Tower is a significant landmark in Naperville, and not just for its height. It was built to celebrate the third millennium. The tower has 72 bells hidden inside and to get to the top, you’d have to climb 253 steps. The largest bell weighs six tons and is named after the founder of Naperville, Joseph Naper.

If you’re lucky, you might get to hear the majestic bells ringing out during one of the summertime concerts. Perhaps, somewhere, Joseph Naper himself is listening too! We hope he’d be proud of everything Naperville has achieved. 

You’ll also find a small but scenic quarry just behind Moser Tower and if you head south, there’s a big hill for energetic children to run up. In the winter, Naperville locals head to Rotary Hill for sledding, which is great fun. 

6. Take a rest at the scenic Gregory Gazebo 

Once you’ve taken in the sights at the Moser Tower, head towards the second quarry. Take any of the paths from Moser Tower or Rotary Hill, but just keep the River on your left hand side. You’ll soon reach the big quarry and along its western edge, you’ll find the scenic Gregory Gazebo, which is a charming outpost perfect for taking in the view and snapping a selfie. 

7. Optional: Go Paddle Boating on the Lake or get a snack at the Riverwalk Cafe (in summer only)

If you want a longer walk, you could take a stroll around the quarry – or you could walk up to the paddle boating rental station. It’s right beside the Riverwalk Cafe, which is next to the DuPage River here on the west side of the quarry. It’s only a few hundred yards from the Gregory Gazebo, so hopefully you won’t get lost!

During the summer months, you can paddle boat or kayak on the quarry for $10 per twenty minutes. The seasonal Riverwalk Cafe also offers all the family favorites if you need a quick snack or a coffee – though save some appetite for the Egg Harbor Cafe later on. 

8. Walk across the beautiful covered bridge 

One of the most beautiful parts of the riverwalk are the covered bridges. You’re about to head right over the first one on our tour. It has the official title of the Naperville Riverwalk Covered Bridge and it’s a sight to behold. It feels really romantic to walk through and in the evening it’s lit up with fairy lights. Children, wives or girlfriends are guaranteed to love it here, so leave enough time to take a quick picture! 

9. Check out Centennial Beach 

Now we’re back on the North side of the river and it’s time to check out one of the most popular summertime spots in Naperville – Centennial Beach. That’s right, you can find sandy shores right here in the suburbs. 

If you bear slightly left and follow the winding footpaths, you’ll go through Centennial Park and back around to the beach. It’s not hard to find during peak months as there will be lots of people around it. In the summer, you can go swimming, diving or just top up your tan. So if you’re planning to make a longer stop, be sure to check your parking hours and bring a bathing suit. 

It’s also a great spot for a picnic if you’re so inclined. Bring a blanket, a hamper and some good friends! 

10. Pass by the Landforms Art Sculpture 

Keeping the river to your right, head up the Riverwalk towards downtown. We’re getting pretty close to all the action now, but there are still a couple of beautiful spots along the Riverwalk to check out. 

One notable historical monument are the landform sculptures. You’ll find them just on the corner where St Eagle Street cuts the Riverwalk path. The sculpture was a gift from the Naperville Art League in 1984, commemorating the hard work of all the volunteers who built the Naperville Riverwalk. 

Community spirit is deeply embedded into the history and present of Naperville and you’ll find tributes to it dotted throughout the town as part of the Century Walk.  

After you’ve checked out the sculpture, cross over St Eagle Street and keep the river on your left – this will make for the best reveal of the Dandelion Fountain.  

11. Stroll over the Naperville Bridge to the Dandelion Fountain 

We’re almost at the best part of the Riverwalk, the Dandelion Fountain. It’s a small but architecturally distinct fountain that makes for a lovely end to the Riverwalk. 

It’s one of my favorite places to sit with a coffee, read a book, take a picture and just take in the atmosphere of downtown Naperville. 

12. Stop for a bite to eat at the Egg Harbor Cafe

I don’t know about you, but I think any good walk should work up an appetite and be rewarded by a delicious meal. There’s no better place to head right now than the Egg Harbor Cafe. Simply cross Jackson Avenue at the Dandelion Fountain and it’s right there waiting for you. 

They serve egg-ceptional breakfasts and lunches all day long, including gourmet pancakes, skillets, seafood frittata, waffles, french toast, meltingly cheesy sandwiches… Need I go on? 

This place is well worth a stop, but if you’re tight on time you can grab a coffee and cake, or a healthy snack, to go. 

And if you’re looking for a more serious meal in Naperville to end your walk, check out our recommendations: 

• 5 Best steaks in Naperville 
• 5 Best Burgers in Naperville 
• 5 Best Sushi Spots in Naperville 

15. Walk back along the Southside river path 

We hope you enjoyed the walk so far! To get back to your car at the Naperville Riverwalk Parking, we recommend taking the Southside river path, since we spent a lot of time on the Northside. But you can also retrace your footsteps. The park is linear all the way along the river, so it’s pretty hard to get lost. 

If you’re with little ones who are tired, you can get them hyped up by promising a quick play at the Jaycee Park, which is just before the carpark at the end of the walk. It’s a mini adventure playground with tons of slides, climbing frames and more. 

Map of the Naperville Riverwalk Tour 

As they say, real estate is local, so today, I’m going to give the facts of what is essential to know about the change here in the Chicago western suburbs. I will go over which suburbs are hot and which are not. 

In this blog, I will cover everything you need to know to help you decide whether to buy, sell, or rent in 2023.

Let’s get straight into it!

Interest Rates

The recent and sudden change in interest rates is on everybody’s mind. A year ago, 3.0% was the highest 30-year fixed mortgage rate we had seen, and now we’re almost at 7%.

Even though this doesn’t seem like much of an increase initially, it can have large consequences for your monthly payments.

With a 3% interest rate, your monthly mortgage payment for a $500,000 home would be $2,200. However, if the interest rate were 7%, your monthly mortgage payment would surge to $3,300; that’s an additional

$1,100 per month!

With interest rates remaining at an all-time high, the demand for houses has significantly decreased.

A year ago, there were 20% more homes on the market than there are now. Fewer choices for new homeowners might be due to sellers not wanting to leave their current interest rate or lack of available options.

With the housing market always in the news, you might wonder how it’s doing where you live. It’s important to remember that real estate is local though, so even if prices are dropping in some areas of the country, that doesn’t mean it’s happening everywhere. Here in the Chicago western suburbs, for example, we’re still going strong!

The largest drops in home prices have come in the areas of the country that have dramatic increases in appreciation, areas as Arizona, Texas, and San Francisco. Chicago, however, was ranked 5th as the fastest-shrinking inventory in the nation. 

The Midwest is a linear market; this means appreciation never gets too hot or cold, unlike cyclical markets on the coasts.

Median Sales Price

However, not all suburbs are doing as well as others. Let’s cover the Western Suburbs that are still strong and those that have seen a decrease in value.

Chicago Western Suburb Prices

In this section, we will cover a year-over-year change in median sales price for the largest suburbs of the Western Suburbs.

Most suburbs are seeing a rise in median sales prices, except Clarendon Hills and Glen Ellyn. Both recorded lower sales prices this year compared to last year; however, Glen Ellyn only experienced a slight change of -1.2 percent, while Clarendon saw a much more dramatic decrease of 13%.

Carol Stream, Naperville, and Schaumburg have seen the biggest jumps in median sale price at 9.8%, 9.1%, and 8.5%, respectively, while most of the other suburbs are between 4-6%.

Market Time

Now, we will look at the days on the market metric to see how long a house takes to sell.

This comparison is between Q3 last year and today. All suburbs have shown a decrease in the number of days on the market, except for Lombard and Glendale Heights. Lombard increased by 2.4%, while Glendale Heights’ numbers more than doubled, increasing to over 50%.

This number should generally be around 60 days; anything over is not good news for sellers and buyers. The lower the days on the market, the more demand vs. inventory.

While demand is lower because of rates, the lower supply balances prices and keeps a stable market.

Glendale Heights had a large change in market time in March 2022, at the same time as interest rates started to increase aggressively. Glendale Heights, an entry-level housing market, is likely getting priced out of the market by potential buyers who can afford to buy in Glendale with today’s interest rates.

We are still in an ideal market for sellers. With interest rates increasing but fewer properties available to buyers, prices could stagnate or decrease just a bit as winter arrives.

Months Supply

Months Supply has been dropping for over a decade but much more aggressively since the pandemic’s start. The short supply is the main reason prices skyrocketed.

The suburbs with the largest home supply decrease are Hinsdale, Glen Ellyn, Addison, and Schaumburg.

While the average monthly supply number is still very low at 1.7 months supply for the entire MLS, these four suburbs have seen a decrease in inventory for sale. This could be a leading indicator of prices starting to increase or stabilize a bit.

Most all other suburbs had a drop of around 20-30% in supply compared to just a year ago.

Conclusion

Ok, so what does this mean for you? Should you buy, sell or rent? I hate to answer that it depends, but it’s true. It depends on your personal situation, needs, and goals.

Today is a great time to buy if you are a first-time home buyer or someone who needs to move up to a larger house.

Prices have come down from the highs of just a few months ago but are still much higher than last year or even 5. The problem most people are finding is the limited supply of new listings.

I talk to people regularly, waiting for the market to drop or even crash. The truth is, there is no sign of any large increase in supply. And so, wishing that prices drop significantly could be a long wait.

If you can buy it today, you should consider it. I always tell my clients to buy when they are ready to buy; no one can time the market.

Suppose you are interested in buying or selling in the Chicagoland market id love to hear about your goals. You can call, text, or set up a video meeting in the description box below to cover your exact situation.

When New Yorker Martin Kimbell claimed possession of 160 acres of open prairie that would become Logan Square in 1836, it was beyond Chicago’s bounds. Other colonists soon followed Kimbell in what was becoming the township of Jefferson. Farmers in Logan Square and beyond could transport their harvest to markets along the North West Plank Road (later Milwaukee Avenue), which followed the line of an Indian track bending northwest out of Chicago, beginning in 1850. The Chicago & North Western Railway built its tracks just west of the river a few years later. Industries quickly followed suit. Chicago seized the land east of Western Avenue and south of Fullerton in 1863. (Because of its large number of German factory employees, this neighborhood—now Bucktown—was known as Holstein.) Six years later, the city annexed the territory to the north (east of Western, between Fullerton and the river).

Following the 1871 fire, Logan Square developed at a faster rate. Because the location was outside Chicago’s fire limits, reasonably priced frame houses sprung up quickly. German and Scandinavian immigrants progressively relocated northwestward after the Milwaukee Avenue street railway line was extended to Armitage and Belmont. Maplewood had a population of 6,000 people by 1884.

In 1889, the city of Chicago annexed the remaining area of Logan Square. The “L” came the following year, and new residences encircled the Fullerton and Milwaukee Avenue stations immediately. The city soon paved and established the boulevard system that the West Park Commission had designed years before. Upwardly moving Scandinavians and Germans soon lined Logan, Kedzie, Humboldt Boulevards, and Logan and Palmer Squares with sturdy graystone two- and three-flats and substantial single-family residences.

Logan Square flourished the most after World War I. Poles and Russian Jews arrived to take their position when the earlier-arriving population migrated further along Milwaukee Avenue. Rental housing and flat construction remained unabated. The Logan Square Ball Park at Milwaukee and Sawyer, the last large piece of undeveloped land, was taken by developers in 1925.

After 1930, the population began to decline progressively. On the district’s industrial eastern edge, older frame homes are degraded. The Northwest (Kennedy) Expressway development in the late 1950s effectively cut this district off from the rest of Logan Square, pushing many to leave. In the coming decade, the installation of the Dearborn/Milwaukee subway (now the Blue Line) impacted commercial life in downtown Logan Square.

Logan Square experienced the beginnings of a renaissance in the early 1960s that has persisted into the twenty-first century. Residents of the Logan Square Neighborhood Association created the Logan Square Neighborhood Association in 1963, and it has fought to enhance housing and civic engagement ever since. Young urban entrepreneurs bought and refurbished many of the excellent houses along the boulevards in the following decades, leading to the corridor’s designation as a National Register district in the 1980s.

Logan Square now has a significant ethnic and economic variety. Its population has declined slower than Chicago’s overall, mainly to an inflow of Hispanics since 1960. While upper-middle-class individuals own the sturdy mansions along the boulevards and new and refurbished townhouses in gentrifying Bucktown, most of Logan Square’s residents still live in the neighborhood’s rental flats and apartments.

There are tons of spots in wider Chicagoland where you can swap the paving slabs for prairie trails and welcome the start of the flowering year. From exotic gardens to beautiful lagoons, and family play parks to rugged forest preserves, we’ve got you covered with our list of the Best Chicago Suburbs to Visit in Spring. 

Read on for a wonderful springtime you’ll never forget. 

9. Westmont

Looking for a perfect family day out? Head to Westmont this spring, where the popular Ty Warner Park has just about everything to keep the children entertained. Named after the creator of Beanie Babies, whose headquarters are nearby, this 36-acre park features baseball fields, flower displays, and numerous landscaped walks.

But the main attraction for kids when the weather warms up is the Spray Park, where they can let their imaginations run wild with water shooting cannons, The Giant Misting Whale’s Tail, and The Mushroom Cap Water Walls. The Spray Park will be open for the season on May 27, 2022! 

Click Here for more information about the spray park.

You’ll know you’ve done the Ty Warner Park right if you’ve worked up an appetite. Westmont has your back. Running alongside the park is Cass Avenue, where you’ll find an appetizing array of cafes and eateries, including Korean, Balkan, Chinese, and BBQ restaurants. There’s something to suit every taste this springtime in Westmont.

8. Warrenville

Reachable by car in just 30 minutes from downtown Chicago, the western suburb of Warrenville has heaps to offer the adventure seeker.

The first stop this spring should be Blackwell Forest Preserve. This 1400-acre site abounds in the glories of the natural world, made up of a gently rolling terrain of oak and hickory woodlands, grasslands and wetlands where you can spot all kinds of native wildlife. One highlight in spring is the beautiful northern leopard frog, which lays its tadpoles in the two ponds here. Another highlight of Blackwell is the boating and paddleboarding on Silver Lake. Those looking to take to the water can hire craft from April to September.

Once you’ve sampled the great outdoors at the Blackwell Forest Preserve, why not end the day in style at the Two Brothers Tap House? This independent artisan establishment offers a delicious selection of craft beer, as well as a restaurant and if you’re feeling curious as well as thirsty, guided tours of the brewery. It’s open Tuesday to Sunday and is just one more great reason to visit Warrenville.

Learn more about Blackwell Forest Preserve Here!

7. Naperville

Located just over 30 miles west of the heart of the Windy City, the ever-popular Naperville is the perfect destination to explore all that the suburbs have to offer this spring. A must-see for nature lovers here is the regionally significant Springbrook Prairie Forest Preserve.

This beautiful 1800-acre grassland is especially full of life at this time of year, when bird species like meadowlarks, dickcissels, woodcocks, bobolinks and endangered northern harriers come passing through for migration and mating season. As well as being a birder’s paradise, Springbrook Prairie is perfect for a family day out, with picnicking and dog walking areas, and even a specially designated field for flying model planes and drones. 

Once you’ve explored the prairie, there’s still a fantastic itinerary waiting for you in Naperville. As the weather is starting to warm up, it’s the perfect time to head along the renowned Riverwalk. Recognized as one of the most beautiful spots in the Midwest, this 2-mile walk along the DuPage River is especially vibrant in the spring sunshine, and with landscaped pathways, playgrounds, and plenty of bars and restaurants, offers fun for all the family. 

6. Darien

Lovers of natural beauty should head out to the western suburb of Darien this spring. The area plays host to the renowned Waterfall Glen Forest Preserve, a 2500-acre site that is one of the most ecologically impressive sites in northern Illinois. Here, in the Bluff Savanna and Poverty Prairie, you can see 740 native plant species (including some of the oldest trees in DuPage County), over 300 species of mammals, birds and fish, and over 11 miles of limestone- and turf-covered trails. All of this is in addition to the several stunning waterfalls which give the Preserve its name.

Learn more about Waterfall Glen Forest Preserve Here!

If you’re looking to fill up the tank before exploring all of this glorious scenery, why not indulge yourself at the nearby Blueberry Hill Breakfast Cafe? Voted one of Chicagoland’s Top Five Breakfast Restaurants, this popular eatery offers a mouthwatering selection of treats, including its famous buttermilk pancakes, country-fried steak and eggs, and fresh-baked biscuits and gravy. You won’t forget this wonderful springtime trip to Darien.

5. Wheaton

Looking for a tranquil day out at a park this spring? Hunt no further than Cantigny Park. Located in the western suburb of Wheaton, just over 30 miles due west of downtown Chicago, Cantigny has one of the best showcases of spring here in the suburbs. People come from all over for the flower displays, which in spring include blooming crocuses, hellebores and the Siberian squill. Other attractions include extensive gardens, a military museum, numerous playgrounds, and great nature trails. 

Once you’ve enjoyed the delights of Cantigny Park, it’s worth heading to nearby Cooper’s Corner to continue the fun into the evening. This popular restaurant has a great atmosphere, offering a delicious menu of culinary classics – including quesadillas, sliders, escargot, and oysters – as well as a packed program of live music, with bands playing every Friday and Saturday evening. If you want a slice of springtime joy, make sure you head out west to Wheaton. If you would like to learn more about what to do in beautiful Wheaton, Click here!

4. Elmhurst

If you’re craving an outdoor experience with a difference this spring, you could head out west to Elmhurst to pick up the Main Branch of the Illinois Prairie Path.

This network of trails, which was established in the 1960s on the abandoned route of the Chicago, Aurora, and Elgin Electric railway, provides a unique way to see the Chicagoland area. Stretching from Maywood in the east to Aurora and Elgin in the west, its 61 miles of smooth limestone paths allow for tranquil journeys through scenic parts of the suburbs normally hidden from view. Whether you’re walking, jogging, cycling, or birdwatching, traveling along the Prairie Path will give you a peaceful day out to remember.

After a wonderful time in the spring sunshine, why not dine in style at Francesca’s Amici on N York Street in Elmhurst, a popular Italian eatery that is bound to satisfy any appetite. This top-rated restaurant offers exciting lunch and dinner menus with a huge range of delicious dishes, including pasta classics like Linguine Alla’ Abruzesse, substantial meat feasts like Lombo Di Maiale Con Carote, and mouthwatering desserts such as Torta Di Datteri Al Caramello. Whatever you fancy satisfying your hunger this spring, you’ll find it in Elmhurst. Elmhurst was also voted top 10 Chicago Suburbs with the Best Downtowns! Check out the blog to see who else made this impressive list.

3. Schaumburg

For a renowned natural haven in the midst of the suburbs, head to Schaumburg to explore the scenic delights of the Busse Woods Forest Preserve. Sprawling across over 3500 acres, this site contains ancient upland woodlands, substantial fishing and boating waters, miles of trails, and even an elk pasture, making it one of the most diverse and best-loved natural areas in Illinois. 

But Schaumburg’s great outdoors doesn’t end there. If you still haven’t gotten your nature fix with all that Busse Woods has to offer, you can head to the nearby Spring Valley Nature Center. This unique attraction is a living monument to the area’s environmental heritage, with natural history displays, handicapped-accessible hiking trails, and an 1880s Heritage Farm. Educational fun for all the family, admission to Spring Valley is free, and it’s open daily 8 am to 8 pm from April 1st. 

2. Glencoe

For a classic spring experience this year, head to the beautiful suburb of Glencoe to visit the renowned Chicago Botanic Garden. Founded by the Chicago Horticultural Society in the late 1800s, this site close to the shore of Lake Michigan has matured into one of the world’s most respected living museums and conservation science centers. With seasonal highlights including snowdrops, magnolias, daffodils, tulips, lilacs and azaleas, a spring visit to this botanic garden is the perfect way to start the season.

For a day out that flows effortlessly, after the Botanic Garden you can head to nearby Skokie Lagoons, where you will find seven inter-connected lagoons brimming with life and totalling 190 acres. Recreational opportunities here include fishing, biking, boating and birding. For a slice of rugged nature, this Forest Preserve is not to be missed. 

If you’re feeling peckish after your time in the great outdoors, a perfect place for dinner in Glencoe is Guildhall restaurant on Vernon Avenue. This sophisticated American bistro serves thoughtfully designed dishes including Faroe Island salmon with cauliflower puree and currants, roasted half chicken with braised kale, and for dessert, the Apple Eleanor, a vanilla mousse with apple cinnamon compote. Together with an eclectic range of craft cocktails and wine and beer, a day out in Glencoe this spring leaves little to be desired. 

Did you know? Glencoe is the second wealthiest Chicago Suburb, Click to see who is Number #1

1. Lisle

Located in the DuPage County suburb of Lisle, and with 1700 acres of beauty, the Morton Arboretum is the iconic suburban destination to welcome spring to Chicago. Established in 1922, and still going strong in its centenary year, this great outdoor museum of trees really knows how to ring in the new season.

Highlights this year include the Spring Wine Tasting, with over 80 different wines to choose from, and for the especially adventurous, the Champion of Trees 10K Run (or Walk) through one of the most picturesque courses in the Chicagoland area. Admission to the Arboretum is from $11, 7 am to sunset 365 days a year. 

Before you set off around the Morton Arboretum, feed your appetite at The Baked Apple Breakfast Company, on nearby Ogden Avenue in Downers Grove. This popular breakfast spot has all the delicious dishes you could imagine, with an extensive menu including baked apple pancakes, breakfast tacos, and the forever popular Strawberry Fields waffles with strawberries and whipped cream. If you’re looking for all the sensations the season could offer, take yourself down to Lisle this spring. 

As local realtors, we get no end of questions about how much it really costs to live in the suburbs. There’s nobody better placed to answer that question for you, so we’ve pulled together everything we know about living expenses here in Chicagoland. 

We’ve made sure to include expensive, affordable, and mid-range suburbs, as well as picking areas from the North, West, and South of Chicago. As if that wasn’t enough, we’ve also included averages for the collar counties. Read on to find out which areas of Chicago could suit your way of life. 

Average House Prices 

One cost of living that’s non-negotiable is having a roof over your head – so let’s start by looking at the average house and rent prices across different Chicago suburbs and Counties. 

Median House Prices By Chicago Suburb

As you can see from the suburbs we’ve chosen, house prices across Chicagoland vary drastically by suburb. At the affordable end of the spectrum, you’ve got villages on the south side of the city like Thornton, Illinois, where the median house price is a mere $160K – almost three times less than the Chicago average.

But don’t be fooled into thinking all the suburbs are a haven for cheap property. At the other end of the market, you’ll find upscale suburbs like Hinsdale and Barrington Hills, where the average home costs a mindblowing $900K+.

There is no shortage of high-end neighborhoods around Chicago, so if ever you fancy curb-crawling for your dream lottery home, take a drive around places like Hinsdale, Glencoe, Winnetka, Clarendon Hills, and Wilmette. 

On the other hand, a city like Evanston, located on the north shore of Chicago, comes in at a happy medium of $362K, which isn’t far off the average home price here. 

Yet, the truth is that you can find homes across different price points in practically any suburb. There is a huge variation in size and style that affects the final value of the home.

Average House Prices By Chicago County

This much is clear when you look at the average house price by Chicago County. The figures are much closer together, reflecting the fact that you can find expensive and affordable houses spread across every area. 

All in all, the Chicago County Average house prices reflect that you can find properties close to the Chicago average house price, no matter what side of town you’re looking into. 

Average Rent 

Much like the house prices, the average rent in the Chicago Suburbs really varies depending on where you’re looking. Your jaw may drop as you look at the average rent in Barrington Hills as you ask yourself why it’s so expensive.

That’s because Barrington Hills is a rural suburb of Chicago. It’s miles out from the city itself, and most people here tend to own their homes. So any rentals in areas like this tend to be luxury properties designed for short to mid-term escapes to the countryside. 

Median Rent By Chicago Suburb

In general, rental prices in the Chicago suburbs come in between $1,000 -$2,000 for a 1-bedroom apartment. It’s the most significant expense you’ll need to account for when working out the cost of living in the suburbs.

However, it’s helpful to note that a 2- or 3-bedroom apartment or home would cost far less to split between multiple renters – which is how many people choose to get around the high cost of living these days. 

Median Rent By Chicago County

Data from deptofnumbers.com

Property Taxes 

Regarding the cost of living in the Chicago suburbs, property taxes are the elephant in the room. Many people today might blacklist Illinois as a place to live because our property taxes are famously higher than the national average. 

On the flip side, you could consider it part of the deal to live close by to one of the best cities in America, which is home to nationally ranked schools and a cultural scene with a long legacy of producing world-class professionals across every vocation. 

Regardless of how you see it, the property tax bill will come your way. Let’s take a closer look at how that cost varies across different Chicago suburbs. 

Property Taxes by Chicago Suburb (examples)

Data from smartasset.com/ 

It’s a little tricky to figure out how much property tax you will pay until you’ve chosen a home – a lot depends on the exact area the home is in, as well as the home’s assessed value. But you can see that, once again, property taxes range wildly between different suburbs, and in general, they follow the pattern of how expensive the suburb is. 

In Thorton, which is one of the most affordable suburbs of Chicago, homeowners here pay an average property tax bill of $3,699. This sounds quite appealing compared to the record-breaking Hinsdale, where the locals are shelling out an average of $12,389 in property taxes.

 “Where does it all go?”, you might wonder. The answer is that much of it funds one of the most prestigious school districts in the state of Illinois, Hinsdale Township High School District 86. The situation in Naperville is much the same, and that’s why families who can afford it are flocking to these suburbs despite the high taxes. 

To get a more general picture of how property taxes vary across Chicagoland, we can also consider the property taxes by Chicago County.

Cook County is onto a winner here, with the lowest average effective property tax rate of 1.38%. Cook County and DuPage County are both home to some of our personal favorite suburbs, including Downers Grove, Glen Ellyn, Elmhurst, Wheaton, Oak Brook, Schaumburg, Skokie, Arlington Heights, and Evanston. 

Property Taxes by Chicago County 

Data from tax-rates.org/

Median Household Income 

One good way to get an idea of the cost of living in an area is to look at the median household income. People generally like to live in the best area that they can afford – and if they have a similar income to you, then you can look to that area too.

As you might expect, based on the rent and house prices, Barrington Hills, Hinsdale and Naperville are the highest earners from our example suburbs.

In fact, they earn 2-3 x more than households living in Thornton and Northlake. So, in general, you can expect the cost of living is 2-3x times higher, depending on your specific lifestyle. 

Median Household Income by Chicago Suburb 

Data from niche.com

Transportation 

Getting around in the Chicago suburbs contributes a lot to your cost of living, and the way that you travel will depend on where you live. 

There are some far-out suburbs, like Barrington Hills, where having a car is an absolute necessity simply due to the scale of the local area (and the fact that there is no nearby metro station). You’ll need a car to do simple things like picking up groceries because public transport doesn’t support it.

However, if you are lucky to live centrally within a well-connected suburb like Naperville or Evanston, you could get around by relying on the metra and pace buses. No matter which suburb you live in, you can get a day pass or a monthly pass for the Metra. The cost does change slightly depending on your route and distance from Chicago. 

Metra Pass

Daily Cost of Commuting to Chicago from Suburbs by Car 

*Based on 2022 current average price for regular gas of $4.541 and the average MPG of 25

** Based on commuting 21 days per month 

Many people in the Chicago suburbs choose to drive as their main method of getting around. Just like most places in America, there is a lot of sprawl in our suburbs and there is nothing more convenient than hopping in your car.

However, it also comes at a cost – and one that is rapidly rising. Fuel prices are almost double what they were this time last year, and there’s no telling how they might change in the future. 

We’ve made some quick calculations to estimate how much it would cost you to commute to Chicago every day from different suburbs. We did this using current gas prices and the average miles per gallon of 25 – plus. We also considered that you’d be commuting approximately 21 days per month. However, no matter what suburb you live in, you can easily calculate it yourself.

To work out how much it will cost you in fuel to travel by car, find out your miles and then divide it by your MPG. Take that figure and multiply it by the current cost of fuel per gallon, and the result is your fuel costs for the trip. 

Bear in mind that being stuck in traffic uses up to ½ gallon of fuel per hour. Many of the Chicago suburbs are known for becoming congested.

If you’re commuting every day from a busy suburb into downtown Chicago, you’ll easily spend a couple of extra hours a week sitting in the car. To add insult to injury, this can add on a few dollars to your fuel costs weekly. 

Parking

On average, people in Chicago pay $190 per month for parking as part of their commute. 

If you are parking every day for your commute – whether that’s to Chicago or simply to your local metra – you’ll want to do some research to figure out the cost of your local garage and account for that in your cost of living. 

Parking downtown outside of Chicago is typically metered at $2 per hour. The cost of parking in a garage varies dramatically depending on their individual rates, so you’ll need to do some research to find the best spot for you. 

Utilities 

No matter which suburb you’re looking at, utilities will be roughly the same, as many of them are determined by state or national providers. One of the biggest differences you can make to your cost of utilities is what phone bill and WiFi you choose. The cheapest phone tariffs for U.S. providers start at $30 but can be as high as $180. 

Food prices / Eating out

It’s hard to put an exact figure on the cost of food in the Chicago Suburbs – that’s because it doesn’t really depend on the suburb so much as the person’s individual lifestyle.

According to bungalow.com, people in Chicago spend around $300 every month on food. But we all know that the way you choose to have your meals can make or break that figure; if you shop at budget supermarkets, do meal prep and always eat at home, then your food bill will be significantly lower than someone who lives off takeaways or in upscale restaurants. 

But still, just for fun, we thought we’d head out to a few typical suburban restaurants so we could show you roughly how much it costs to eat out in the suburbs. We ate at an in-expensive restaurant and a mid-range restaurant – here’s how much it cost. 

Inexpensive restaurant: $60-150 (couple)

Mid-range restaurant: $180-$330 (couple)

In short 

We hope to have given you a good insight into how the Chicago suburb you call home can affect your cost of living. Of course, there are many other factors to add to that final bill, such as childcare costs, healthcare insurance, and car insurance, but these are broadly speaking the same no matter where you live. 

Perhaps you’ve even set your sights on one of the suburbs we’ve used as examples. We’ve got lots of helpful information for you about living in Naperville, the best parts of life in Hinsdale, and why we think Northlake is one of the most underrated suburbs of Chicago. 

While there are many things that can go wrong, working with an experienced agent and team makes it a smooth and relatively stress-free experience. 

In this blog post, we cover the entire process of buying and selling a home simultaneously in Chicago Illinois, the best practices used by those in the know,  and what’s working well in today’s market. Let’s get started!

Can I sell my house and buy another one at the same time?

Many buyers and sellers carry out the two processes simultaneously. On average, 20% of homeowners make the two transactions together. There are a number of steps that need to be coordinated and this is complex to achieve in a chain. 

There are several different strategies that you could use to accomplish this goal. You will need to talk with your agent about what the best approach would be for you. As a complicated process, each one should be approached on a case-by-case basis, but here are the basic steps you will need to take to buy and sell your house at the same time in Chicago, Illinois. 

How to buy and sell your house at the same time 

1. Find an agent who specializes in simultaneous buying/selling

Work with an experienced agent who can help you navigate the process. They will be able to give you specific advice and guidance on what needs to be done in order to sell your home and buy a new one simultaneously.

Many different factors could affect the success of your transaction. Your agent’s experience, the market conditions, and the time of year all contribute to your likelihood of success. Choosing the best help could be the most important of all.

2. List your current home first

Start by putting your current home on the market. 

It’s critical to get everything in order before listing your property. When you’re looking to sell and purchase at the same time, a good offer from a strong qualified buyer is essential.

3. Start looking for your new home 

It is important to have a firm idea of what you are looking for. As your current home is already listed, you don’t want to lose time figuring out what you want. Nail down as many variables as possible, including location, bedrooms, age, size, and price range. 

3. Negotiate on both homes at the same time

You will need to negotiate the offers on both homes until an agreement is reached on price and terms. This can be tricky, as there are many moving parts involved. Your agent will be able to help you navigate this process and keep everything on track.

If you spot a property that interests you, you can place an offer on the condition that your house is sold. Often this is the most challenging negotiation. Keep in mind that having a sales contingency lowers the value of your offer. When compared to a non-sale contingency offer, a sales contingency offer would be very ineffective in our current market circumstances.

4. Be ready to close quickly 

Once an agreement has been reached with both homes, it is time to close! Your agent will walk you through the closing process so that nothing gets missed or overlooked during this important step in your transaction.

The most common closing is a concurrent closing, this is often done by closing on one home in the morning and closing on the second only a few hours later.

What is a concurrent closing?

A concurrent closing is when you sell one property and then purchase another within a short time frame, usually on the same day. Exactly simultaneous closings are not technically feasible at the same time – you could compare it to twins being born. It’s part of one overall process, but it can’t physically happen at the same moment 

In concurrent closings, the first closing must be completed before the next, thus there must be a minimum duration of at least a few hours (bare minimum) between them.

As you can see, selling and buying a house at the same time can be a lot of work. This is why most people choose to enlist the help of an agent to make the process as smooth as possible. 

Let’s take a look now at some of the best practices that are being used in today’s market.

Best practices for selling/buying at the same time

Here are some of the best practices that we are currently seeing in today’s market:

• Get pre-approved for the new house before you list your current home for sale. This will ensure that if there is a multiple offer situation, you have an advantage over other buyers.
• Be aggressive with the listing price of your home. A reasonable listing price or receiving a strong quick offer and contract will be beneficial when submitting the offer on your new home.
• Look at homes prior to listing yours for sale so that when you do list it, you will already have an idea of what is available and at what price.
• Have a team that can make this process easy for you. A real estate agent with years of experience in buying and selling homes simultaneously is extremely helpful as well as having closing attorneys who understand the process and how to coordinate the closings so that they happen on the same day.
• Use the same attorney, agent, title company, and lender for both transitions. With many moving parts, the fewer people involved the less of a chance of miscommunication or mishaps.

What is working well in today’s market?

There are many things that are working well in today’s market when it comes to selling and buying a home at the same time. Here are the most notable:

We recommend all our simultaneous seller buyers have a strong written offer from a buyer for their home before viewing and submitting an offer on their new home. Here are the reasons why:

• Your offer will be more attractive to the seller of the new home if it is accompanied by a written sale contract of your current home.
• If you have a great strong offer on your current home, this can help in negotiations for the purchase of your new home.
• Be prepared to move quickly when you find the home you want to purchase. In some cases, multiple offers can be made on a property and the seller may choose the offer with the quickest closing date.

Once again, keep in mind that having a sales contingency lowers the value of your offer. When compared to a non-sale contingency offer, a sales contingency offer would be very ineffective.

Alternatives to Selling before Buying

If you are unable to sell your home before buying a new one, there are a number of options to explore, which include renting your home before buying, using a bridge loan or HELOC loan, getting a leaseback, or selling to an ibuyer. 

Rent your home before buying:

If you are financially capable and qualify for two mortgages at the same time, one option is to lease your property before looking for your next home. After you are settled in and the lease has expired, you can then place your old home for sale. Leasing your first property would give you time to look for your next home and not have to deal with the strict constraints of concurrent closings.

FHA and VA loans, however, do not allow you to have two mortgages at the same time. Also, lenders prefer that your monthly mortgage and housing payment account for less than 43% of your gross income. If qualified, this is a great alternative to simultaneous closing. Contact your lender and/or your agent regarding your specific situation.

A bridge loan or HELOC loan:

This is a short-term loan that can be used until the proceeds from your home sale are available. If you have equity in your current house, you may use that money to pay for the down payment, closing costs, and unforeseen expenditures while still keeping both houses.

A bridge loan enables you to borrow money for a new property before selling your present home. Bridge loans typically come with higher interest rates than traditional mortgages and they often require high credit scores and low debt-to-income ratios.

Leaseback:

If you are unable to find another place to live, but your current house has sold, you could negotiate with the new buyer to lease or rent your old home back to you for a short period of time. This is often mostly done with investors or developers. Most traditional buyers want possession at closing. This option allows you time to buy without having to use a bridge loan or be in a huge rush to find another place.

Sell to an iBuyer:

An Instant Buyer is an organization that purchases houses from sellers who want to sell quickly and completely online. The iBuyer makes an offer to the seller within a few days of receiving a description of the property. It’s gaining popularity thanks to large corps and even traditional real estate companies offering this service.

Zillow has recently discontinued this service because it has already lost a lot of money with the few it has completed. It’s quite convenient to sell to an iBuyer, but like with everything else, there is a price. However, if you can find an iBuyer that makes financial sense, take advantage of it. Confirm that you’re receiving a fair price by consulting with a reputable real estate broker. 

Pros and cons of selling and buying a home simultaneously

Here are some of the most notable:

Pros:

• You will not have two mortgages at the same time.
• You won’t need a place to stay while you find your new home
• One move instead of two

Cons:

• Selling and buying at once requires two closings, which means two sets of closing that must go exactly to plan. There is a higher risk that one or both transactions will fall through, so you need to be prepared for this possibility.
• Time restraints limit the time to find your new home
• Most people will need an agent to pull it off

Conclusion 

What is the best option for you? It depends on your situation, financial ability, time constraints, and what makes sense to you. You should always consult with a reputable real estate broker/agent that knows all of your options and can assist you in making the best decision for your situation.

We’ve helped Illinois families buy and sell their homes in Chicagoland for over a decade – get in touch if you have any questions about buying and selling your home at the same time in Chicago.