Hermosa

Hermosa is a neighborhood in northwest Chicago, 6 miles from downtown. The neighborhood is bordered by rail lines to the west, south, and east. Belmont Avenue marks the northern border of Hermosa.

Hermosa was settled by Scottish, German, and Scandinavian immigrants during the late 1880s. During the last years of the 19th century, many factories were built in the area, attracting new residents from around Chicago.

It was the arrival of the factories that marked the beginning of major real estate development in Hermosa. Homes were built and given to factory workers.

Hermosa was annexed by the city in 1889. With the arrival of public transportation the neighborhood began to see heavy growth. Immigrants from all over Europe moved to the area.

During the 1970s and 80s Hermosa saw a marked increase in crime and a flight of many longtime residents to the suburbs. New development and investment in the neighborhood has brought new residents and given the area a new lease on life.

According to the United States Census Bureau, the population of Hermosa in 2000 was at 26,908. The neighborhood has become home for many Hispanic immigrants from around Latin America.

According to the Census Bureau, Hispanics make up almost 84 percent of the total population in the neighborhood.

Amenities and Attractions

Hermosa is a quiet working class neighborhood that offers an excellent lifestyle minutes from downtown Chicago.

The neighborhood is home to several excellent restaurants that offer a taste of cuisine from around Latin America.

For Mexican food, try Las Chalupas on Diversey Ave. Taqueria Lolita on Fullerton Ave is another excellent choice for authentic Mexican food.

Residents can enjoy a warm day in Hermosa Park, a favorite for locals during the summer.

Neighborhood Stats

Hermosa is a small real estate market when compared to other neighborhoods around Chicago. The area has traditionally been one of the most affordable in the city.

However, the neighborhood is currently seeing average sales prices of homes at over $300,000. The total number of homes sold during the second quarter plunged to 9 from 23 during the same period last year, according to the latest numbers from the Chicago Association of Realtors.

The average turnover time for homes on the market in Hermosa has increased. Homeowners are now waiting 223 days to find a buyer for their property. This is up over 300 percent from last year.

The real estate market in Hermosa is coming to a virtual standstill due to the high price of homes in the neighborhood. Buyers may have to wait for prices to fall to more reasonable levels for the neighborhood.

As the inventory of homes on the market remains stagnant, sellers may be forced to lower their prices. Buyers looking for a home in the neighborhood should negotiate for a better price.

Real Estate & Chicago Condos in Hermosa

There are several single family homes on the market in Hermosa. One example of the current real estate market in the neighborhood is found at 2043 N Cicero Street.

The two bedroom and one bath home is selling for $279,000, just below the average for the entire neighborhood.

Another home at 1926 N Keeler Avenue is priced at $310,000. The 1,389 square foot home offers three bedrooms and two baths.

It is almost impossible to find homes for less than $200,000 on the market in Hermosa.