Why Live in Summit
Summit, a small suburb located 14 miles southwest of downtown Chicago, offers a variety of single- and multi-family housing options at lower prices compared to the city. The neighborhood features unique home styles, including bungalows, Cape Cods, and craftsmen houses, as well as smaller condo buildings. Summit is historically known for its corn-processing industry, with Ingredion and ACH Food Companies being major employers. The area is well-connected with transportation options, including Metra and Amtrak services at the local train station, and is four miles from Chicago Midway International Airport. Summit residents enjoy local dining spots such as Portillo's & Barnelli's, Weber's Bakery, and El Faro, and shop at nearby retail stores in Hodgkins. The Summit Park District includes four community parks—Summit Park, Hanover Park, Argo Park, and Legion Park—offering trails, playgrounds, sports facilities, and seasonal events. Argo Community High School is highly rated and recognized for its academic performance. The Summit Public Library provides valuable community resources, including literacy programs and bilingual services. Summit has a lower crime risk compared to the national average, making it a practical choice for potential homebuyers.
Frequently Asked Questions
What is the average home price in Summit, IL?
Homes for sale in Summit, IL have an average home price of $287,476.
How many homes have sold over the last 12 months in Summit, IL?
13 homes have sold in Summit, IL over the last 12 months.
What are the most popular zip codes in Summit, IL?
How much do you need to make to afford a house in Summit?
The median home price in Summit is $279,999. If you put a 20% down payment of $56,000 and had a 30-year fixed mortgage with an interest rate of 6.77%, your estimated principal and interest payment would be $1,460 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $63K a year to afford the median home price in Summit.
How are the schools in Summit, IL?
Home Trends in Summit, IL
On average, homes in Summit, IL sell after 18 days on the market compared to the national average of 50 days. The median sale price for homes in Summit, IL over the last 12 months is $252,800, up 4% from the median home sale price over the previous 12 months.
Median Sale Price
$252,800
Median Single Family Sale Price
$285,000
Median Townhouse Sale Price
$318,000
Median 2 Bedroom Sale Price
$176,000
Average Price Per Sq Ft
$194
Number of Homes for Sale
4
Last 12 months Home Sales
13
Median List Price
$279,999
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
4%