- The most searched neighborhoods in Chicago are River North, West Loop, Old Town, Gold Coast and Lincoln Park.
- More prospective buyers in Chicago are asking about new construction.
- Potential homeowners in Chicago typically have a specific neighborhood they want to buy in.
One of Chicago’s largest brokerages is looking to expedite the online search process for prospective homebuyers.
The firm, Berkshire Hathaway HomeServices KoenigRubloff, recently upgraded its MLS-database site SmashProperties.com with a neighborhood search feature.
Simplifying an overwhelming search
According to RJ Yozwiak, the brokerage’s co-founder, the firm found that many potential buyers search for homes using key phrases. These phrases are most commonly the name of a neighborhood coupled with the type of property (condo, single family, townhouse) they seek.
However, because Chicago is divided into roughly 45 different neighborhoods, clients are often overwhelmed by the sheer number of properties when looking for a home.
In response, the brokerage upgraded its site to allow visitors to search by typing in a specific neighborhood. If an individual types in “River North” an overview of the area’s culture pops up along with neighborhood-specific real estate statistics and a listing of all available condos and single-family homes within that submarket.
“It’s a very powerful tool,” Yozwiak said, adding it also enables individuals to quickly view what they can purchase for a desired price point within a specific neighborhood.
The site upgrade is not just geared toward prospective buyers, as the neighborhood search function is intended to drive more eyes to a seller’s home.
According to Yozwiak, the most searched neighborhoods in Chicago are River North, West Loop, Old Town, Gold Coast and Lincoln Park, with two bedrooms being in highest demand.
One trend he’s noticing during the past six months within these submarkets is more buyers asking about new construction, likely condos.
“It seems to be the emerging term people are asking for,” he said.
The brokerage should be well aware of the demand for newly-built homes throughout the Chicago metro as the firm is comprised of 1,500 real estate professionals and staff spread among 23 offices. The focus of the firm is $400,000 to $1.5 million homes.