Real estate in popular IL cities
Illinois is part of America's Heartland. However, before westward expansion in the mid-19th century, the land that was to become Illinois was the frontier, otherwise known as the Northwest Territory. But as the lands to the west were settled, it was fitting to call Illinois and its neighbors "The Heartland." And more than geography was at work here, for the farms and small towns dotting the prairies embodied the ethos of hard work, family, and neighborliness that is still valued by many today.
Equal with the storied bucolic and village life of Illinois is its history as an industrial dynamo. With the shore of Lake Michigan at its northeast border, Illinois had access to waterways to the east and soon became a trade corridor to the Mississippi River and beyond. The excellent harbor on the lake guaranteed the development of a major metropolis - Chicago. One of Illinois' most illustrious sons, Pulitzer Prize-winning poet, Carl Sandburg, began his poem, "Chicago," with these lines:
Hog Butcher for the World,
Tool Maker, Stacker of Wheat,
Player with Railroads and the Nation's Freight Handler;
Stormy, husky, brawling,
City of the Big Shoulders....
Indeed, with its massive railway freight terminals, stockyards and meat-packing plants, Chicago became known as "slaughterhouse to the world." Chicago also gave the world a new urban architecture - one strangely at odds with the expansive prairies of Illinois. In the 1880s, a group of innovative Illinois architects abandoned traditional masonry construction in favor of steel and glass curtain walls and, in effect, invented what is sometimes called vertical real estate. And, of course, mention of Illinois architects cannot be made without including the famous (and infamous) Frank Lloyd Wright, who lived and worked in the Chicago suburb of Oak Park and whose home and studio, along with numerous houses designed by Wright; are a major Illinois tourist attraction.
Today, the Illinois economy is based on manufacturing, farming, soft coal mining and oil production. Its manufactured products include iron and steel, chemicals, transportation and industrial equipment, and computer hardware. The Illinois gross state product in 2004 was almost $522 billion, which ranked it 5th in the U.S. At present, the Illinois state income tax is based on a 3% flat rate.
With the diverse ancestry of its population, Illinois could be considered a microcosm of the nation. Major backgrounds include German, African-American, Irish, Mexican, and Polish. Illinois' population ranks 5th in the nation with 12,835,644 residents. Of these, 23% live in Chicago, whose population of more than 2.8 million ranks it 3rd among U.S. cities. The median income of Illinois families, in 2005 dollars, is $61,174, ranking it 14th in the nation. Per capita income is $26,307.
Illinois is home to a large number of colleges and universities. One important reason for this is the high regard for education held by many Illinois religious and ethnic groups. The University of Chicago and Northwestern University are the most prominent of the state's universities.
Illinois offers a wide range of homes in many settings, from dynamic cities and their suburbs to the quieter rural countryside and small towns. The median value of an Illinois home, $225,900, ranks the state at 21st in the nation. Monthly housing costs for owners with a mortgage are $1,455.
No profile of Illinois would be complete without acknowledging Abraham Lincoln, the 16th President of the United States and the man who led the nation through the Civil War, thereby preserving the Union and abolishing slavery. Mr. Lincoln moved from Indiana to Illinois when he was 21 and lived in the state until elected President in 1861. While a resident of Illinois, Mr. Lincoln served his state as a member of the U.S. House of Representatives from 1847 to 1849 and was a four-term member of the Illinois state legislature from 1834 to 1841. Today, we can visit Lincoln's home in Springfield, IL, where it is maintained as a National Historic Site.
|NUMBER OF HOMES AND APARTMENTS||4,836,972|
|ILLINOIS HOME OWNERSHIP|
|% OWNER OCCUPIED||69.91%|
|% RENTER OCCUPIED||30.09%|
|TYPE OF ILLINOIS HOMES|
|SINGLE FAMILY DETACHED||58.48%|
|ROWHOUSES AND ATTACHED HOMES||5.84%|
|SMALL APARTMENT BUILDINGS||12.75%|
|COMPLEXES OF HIGH RISE APARTMENTS||20.20%|
|SIZE OF ILLINOIS HOMES|
|5 OR MORE BEDROOMS||4.06%|
|AGE OF ILLINOIS HOMES|
|NEWER HOMES (2000 OR LATER)||10.82%|
|ESTABLISHED, BUT NOT OLD HOMES (1970-1999)||33.89%|
|WELL-ESTABLISHED, OLD HOMES (1940-1969)||32.22%|
|HISTORIC (1939 OR BEFORE)||23.08%|
|ILLINOIS REAL ESTATE INFORMATION||DETAILS|
|MEDIAN HOME VALUE||$155,560|
|MEDIAN RENTAL PRICE||$837|
|HOME VALUE RANGE|
|$0 - $45,000||6.65%|
|$45,001 - $90,000||13.78%|
|$90,001 - $180,000||29.98%|
|$180,001 - $271,000||22.11%|
|$271,001 - $361,000||12.74%|
|$361,001 - $451,000||5.96%|
|$451,001 - $677,000||5.41%|
|$677,001 - $902,000||1.75%|
|PEOPLE OF ILLINOIS||DETAILS|
|UNDER 5 YEARS||6.51%|
|5 TO 17||17.88%|
|18 TO 24||9.71%|
|25 TO 34||13.84%|
|35 TO 54||28.03%|
|55 TO 64||11.48%|
|65 YEARS AND OVER||12.46%|
|EDUCATION ATTAINMENT OF ADULTS|
|HIGH SCHOOL GRADUATES||86.64%|
|MEDIAN HOUSEHOLD INCOME||$56,576|
|PER CAPITA INCOME||$29,376|
|INDIVIDUALS BELOW POVERTY LEVEL||13.14%|
|INDUSTRIES PEOPLE WORK IN||Manufacturing (12.83%)
Professional, scientific, and technical services (6.72%)
Public Service (3.85%)
Information Technology (2.25%)
|BLACK OR AFRICAN AMERICAN||14.55%|
|AMERICAN INDIAN AND ALASKA NATIVE||0.34%|
|NATIVE HAWAIIAN AND OTHER PACIFIC ISLANDERS||0.03%|
|SOME OTHER RACE ALONE||6.71%|
|TWO OR MORE RACES||2.26%|
|HISPANIC OR LATINO (OF ANY RACE)||15.80%|
|ETHNICITIES PRESENT||Other groups (35.66%)
|LANGUAGES SPOKEN||English (78.03%)
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