The Little Italy and University Village make up a unique neighborhood with diverse housing stock with easy access to the Loop, public transportation and University of Illinois campus, located to the southwest of Chicago’s downtown and adjacent to the rapidly growing Illinois Medical District.
Many of the traditional three-flat buildings and storefronts of Maxwell Street have been replaced by new developments, both residential and commercial as well as a growing number of single-family homes. Few neighborhoods in the city have the variety of real estate of this neighborhood, including two-flat homes, small condominium buildings, converted lofts and warehouses and small town house communities. It may require the assistance of your Realtor to negotiate the varied pockets of Little Italy and University Village!
The average sales price for a one- or two-bedroom attached property in the University Village and Little Italy neighborhood is currently around $308,000. A three-bedroom home carries an average price up to $468,000. And while the neighborhood has seen the arrival or $1 Million dollar plus homes in the area, the average price of a single family home still sees values at $524,000.
Despite the changes in the neighborhood, vestiges of the historic neighborhoods remain, including the local shops and restaurants of Taylor Street. Vendors still set up shop on Sunday mornings, although the market has moved a few blocks east of its original Maxwell Street location. And arguably the city’s best Italian ice—the premier treat for a hot summer day—can still be found on Taylor Street at Mario’s Italian Lemonade. Across the street is a Chicago classic, Al’s Italian Beef.
Once home to Italian and Jewish immigrants and the marketplaces they built, Little Italy and University Village began saw great change in the early 1960s, when the University of Illinois relocated its Chicago campus to the Near West Side from Navy Pier in a controversial move. However time as seen the old neighborhood and the new University come together as a vital and diverse community.
Adjacent to Little Italy is the Tri-Taylor neighborhood, a residential area which abuts the Medical District to the South. Tri-Taylor’s real estate includes variety of accessably priced housing possibilities which include new-construction and rehabbed lofts, 19th-century row homes, townhomes, single-family homes, two- and three-flats and vintage apartments.
What do you look for in the Top University Village and Little Italy Realtors & Real Estate Agents? Someone with a vast understanding of Chicago neighborhoods? How about an invaluable partner and fierce advocate? You should never settle for anyone who isn’t always striving to exceed your expectations!
1st time home buyer? Before shopping for a home, get great tips and to find out Debra’s answers to the top four most common questions that she receives! Click here.
If you’re looking for more information on the University Village / Little Italy neighborhood, or a realtor to guide you through the various real estate options the area provides, I’d love to talk with you!
Housing Inventory of University Village / Little Italy
Population Demographics of University Village / Little Italy
|Workforce||Income by dollar range – Median Income: $52,095|
|The Fair Market Rents show average gross rent estimates based on figures provided by the U.S. Department of Housing and Urban Development (HUD).|
Crime in University Village / Little Italy