Discover What Your Home Is Worth in Chicago

Knowing the estimated value of your home helps you price it right when selling in Chicago, Illinois, before getting an official home appraisal. Understanding your home’s worth allows you to estimate the proceeds from a future sale, so you can better plan your budget for your next home. And if you’re shopping around, it’s also helpful to check the value of homes in the area to ensure your offer is competitive.

Your neighbor’s house may be similar to yours, but it’s not identical. Your home is unique in many ways: the neighborhood, the layout, construction and materials used, square footage, and room dimensions. That means there’s no reason to assume that your neighbor’s sale price should be your guide when it comes time for you to sell.

If you were to sell your home this year, a buyer would be interested in the location and how it impacts the price of the home. Location can affect how much you pay for your mortgage and whether or not there are any amenities nearby. For example:

• A house with an ocean view is more desirable than one without.
• An apartment within walking distance of shopping or restaurants will command higher rent than one further away from shops and restaurants.

The accuracy of the KM Estimate depends on your home’s location and the available data in that area. For active listings, our estimate is typically within a small margin of the final sale price. For off-market homes, the estimate may vary more. You can improve accuracy by sharing up-to-date details about your property. Check your home value estimate for free by entering your address.

Start by understanding your home’s current value using trusted estimates or by comparing it to recently sold properties nearby. Small upgrades like fresh paint, updated fixtures, and landscaping can boost appeal. For a stronger strategy, your real estate agent can provide a detailed market analysis based on your home’s features, location, and local market trends.

Home values change regularly based on buyer demand, available inventory, and local economic conditions. In healthy markets, values typically grow 3–4% each year. Factors like bidding wars or shifts in the economy can cause faster changes. The best way to track short-term trends is to watch your local market closely and review recent sales in your area.

• Has it been a long time since you purchased or moved into the home? If so, there may be some value in its history as part of your neighborhood.
• Have you made significant improvements to the property? Has it increased in value because of these improvements?
• Have recent renovations brought out its architectural beauty or added value to other potential buyers?