Mount Prospect Illinois Real Estate
Resting on the highest point in Cook County, Illinois, Mount Prospect is home to more than 54,000 residents in a crowded northern suburb of Chicago. Originally incorporated in 1917 with a population of 300, the 10.2 square mile community is now a hub of commerce and a highly coveted place to live by upper-middle class families. With award winning schools, top ranked service departments, downtown redevelopments and limitless shopping and recreational possibilities, it is not hard to understand why the streets are so packed.
Most of the homes in Mount Prospect were built during the 1950’s, 60’s and 70’s after which construction slowed as the lots became much denser. In fact, based on the 2000 Census statistics, there were 22,081 houses within city limits meaning there were 2,164 houses/condos per square mile; a relatively large figure for a suburb. 21,718 of these homes were inhabited and a total of 15,483 were owner occupied, making just over a quarter of these residences rental properties. Though the homes do vary in size and architectural style, typical owner occupied homes have about three to four bedrooms versus rental homes which generally only have one or two. Looking at more recent data, the median house sales price from the beginning of 12/07 to the end of 2/08 was $319,250. The average cost per square foot during this timeframe is $240 and both of these figures are lower than their respective 2006/2007 values.
Since the early 1960’s when Randhurst, the first indoor air-conditioned mall in the upper-Midwest, was constructed in Mount Prospect, the city has always had a thriving and modern business community. Even now, residents continue to benefit from the constant redevelopments that have taken place in the downtown area since the 1990’s. The result has not only been cleaner, more attractive office buildings but also new areas for modern style condominiums and newer retail stores.
In spite of all the new developments in Mount Prospect, there are still plenty of local businesses and amenities that have been there for decades. Local hot spots include Colony Square Shopping Center, Mount Prospect Golf Club, Salerno’s Pizzeria, and any of the nine public recreational parks in the MPPD. For any health issues that come up there are also three hospitals in the neighboring townships including Northwest Community Hospital 4 miles away in Arlington Heights.
Residents of Mount Prospect also have the privilege of being served by seven different public school districts, so click on the link to learn more about each one of them and respective institutions. Click here to learn more about the private school system in Mount Prospect as well.
For more information about the Mount Prospect community visit their official website.
