Compare by CANADIAN province

Property Value :
Property Type:
Country:
City   :
State/Province :
Best Commission Rate

Illinois

The state of Illinois, home to the sixteenth president of the United States, Abraham Lincoln, the Prairie State is the fifth largest in the continental US in population. Often referred to as a microcosm of the national economy, Illinois, has many economic industries through agriculture and worldwide finance. A midwestern state, Illinois, has much diversity, not only in its population, but its landscape. The state is home to the metropolis of Chicago, the third largest city in the United States, and, one of the most productive.

General Market Conditions of Illinois Real Estate

In the past few years, Illinois has been one state showing a continued upward trend. Though some dips have been recorded, the state at-large enjoys an increasingly valued real estate market. In August of this year, statewide sales rose over 17 percent and median prices increased nearly 14 percent from the same period in 2012. The median price hit $167,000 in August, and the number of home sales went up more than 24 percent in the year-over-year average.

Geography

Illinois is comprised of three major areas: the northern part of the state is home to Chicagoland, which is largely urban. Another section is in the middle of the state, called Central Illinois, which is mostly made up of prairies. The last area is Southern Illinois, which has a rough topography. This portion is more industrial, with small-scale oil deposits and coal mining.

Climate

Illinois has a wide variety of climate, because of the state's mid-continental situation. With 51 thunderstorms per year, it is on the higher side of nationwide average. The northern part of the state sees more severe winters, while the southern half of the state has more moderate temperatures from December through February. Summers are generally warm and humid throughout the state, and fall and spring are very pleasant times of year.

Demographics

The United States Census Bureau estimates the population of the state of Illinois to be nearly 13 million, with Chicagoland being home to 65 percent of the total residents, though geographically it accounts for only 8 percent of the state. By demographics, Illinois iss 71.5 percent white, (7.8 percent white hispanic, 14.5 percent black, 2.3 percent Asian, 6.8 percent multiracial, with 4.9 percent being American Indian and Alaska Native, and 6.8 percent some other race.

Main Attractions

The state of Illinois is home to some nice attractions, most of which can be found in Chicago or the greater Chicagoland area. Part of its natural beauty is on display at Starved Rock State Park and the Chicago Botanical Garden. Other points of interest include Wrigley Field, Soldier Field, the Navy Pier, Grant Park, the Field Museum of Natural History, the Shedd Aquarium, the Art Institute of Chicago, and the Museum of Science and Industry.

Economy

Illinois has a gross state product of more than $652 billion, and a per capita gross state product is estimated to be approximately $45,302. The state's per capita personal income is just over $41,000 and its largest industries are agriculture, manufacturing, services and financial, courtesy of the Chicago Mercantile Exchange, and energy which include coal, nuclear, wind, biofuels, and petroleum. It also has a substantial tourism trade, thanks to Chicago.