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Kane County Reporter

Saturday, April 20, 2024

Q1 real estate sales report: Chippewa

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Median prices declined in Chippewa over last year, and are down 78.2 percent over 3 years, adjusted for inflation, according to first quarter sales data collected by BlockShopper.com.

From January to March, 1 home sold in Chippewa for a price of $110,000. That's 67.3 percent lower than median home sale prices for the first quarter of 2017.

In the first quarter, there were no foreclosures in Chippewa.

Median property tax for homeowners in Chippewa was $10,023.09 in 2017 according to tax data from that year. That means homeowners pay 3 percent of their home's value in taxes.

Statewide, Illinois homeowners pay an effective property tax rate of 2.22 percent, according to a recent analysis by ATTOM Data Solutions, which is the second-highest rate in the country, just behind New Jersey, where homeowners pay a tax rate of 2.28 percent.

Chippewa real estate: Q1 2016-2018
Properties sold
Median sale price
Change in sale price
2016
1
$504,000
-
2017
1
$336,600
-33.2%
2018
1
$110,000
-67.3%

Median property tax
Median sale price
Effective property tax rate
2016
$16,684.79
$504,000
3.3%
2017
$10,023.09
$336,600
3%

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