Why Live in New Chicago
New Chicago, in northeastern Lake County along the Deep River waterway, is a close-knit community with industrial employment opportunities and outdoor spaces. The neighborhood features numerous parks, including Hillman Park with athletic fields, Three Rivers County Park with paved nature trails and a fishing dock, and Twin Oaks Park with a playground and shaded picnic area. Residents enjoy the sandy beaches of Lake Michigan, just 6 miles away. Housing is affordable, with modest bungalows and ranch-style homes built in the 1940s and 50s, and some newer bi-level homes and renovated properties. Most homes are priced between $120,000 and $200,000.
Community events such as an Easter egg hunt, monthly food truck gatherings, a farmers market, and a Halloween event foster a strong sense of community. The neighborhood also features an annual mud volleyball tournament at Hillman Park. Dining options along 37th Avenue include George's Gyros Spot 2 and El Ranchero, a Mexican restaurant with a bakery. Residents shop at the regional grocery chain Strack and Van Til and visit Southlake Mall, 8 miles south, for retail stores.
Children attend schools in either the River Forest Community School system or the School City of Hobart system, with the highly rated Early Learning Center at George Earle Elementary serving the youngest students. The neighborhood is safer than the national average, and its tree-lined streets and grid pattern layout make it a pleasant place to live. Major interstates, including I-80 and I-65, provide convenient access for commuting, with Downtown Chicago located 40 miles away.
Frequently Asked Questions
What is the average home price in New Chicago, IN?
Homes for sale in New Chicago, IN have an average home price of $154,522.
Are home prices dropping in New Chicago?
Yes, home prices in New Chicago are down 15% in the last 12 months.
How many homes have sold over the last 12 months in New Chicago, IN?
8 homes have sold in New Chicago, IN over the last 12 months.
What are the most popular zip codes in New Chicago, IN?
How much do you need to make to afford a house in New Chicago?
The median home price in New Chicago is $185,000. If you put a 20% down payment of $37,000 and had a 30-year fixed mortgage with an interest rate of 6.77%, your estimated principal and interest payment would be $960 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $41K a year to afford the median home price in New Chicago.
How are the schools in New Chicago, IN?
Home Trends in New Chicago, IN
On average, homes in New Chicago, IN sell after 10 days on the market compared to the national average of 50 days. The median sale price for homes in New Chicago, IN over the last 12 months is $177,450, down 5% from the median home sale price over the previous 12 months.
Median Sale Price
$177,450
Median Single Family Sale Price
$185,000
Average Price Per Sq Ft
$125
Number of Homes for Sale
1
Last 12 months Home Sales
8
Median List Price
$185,000
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
-5%
