New Homes in Chicago, IL Under $200k :: 3 Communities Skip main navigation

Chicago Homes Under $200k

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            3 Communities

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            The Townes at Silo Bend by M/I Homes in Chicago Illinois
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            The Townes at Silo Bend

            Community by M/I Homes

            15253 W. 163rd
            Lockport, IL 60491

            M/I Homes

            630-457-4054

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            Silo Bend by M/I Homes in Chicago Illinois
            homes in Silo Bend by M/I Homes
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            Silo Bend

            Community by M/I Homes

            15220-15454 W 167th Street
            Lockport, IL 60441

            M/I Homes

            630-463-9270

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            Balmorea Townhomes by Ryan Homes in Chicago Illinois
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            Balmorea Townhomes

            Community by Ryan Homes

            3417 Helene Reider
            Montgomery, IL 60538

            Ryan Homes

            888-258-0425

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            New Home Cities in Chicago

            CityCommunitiesAverage New Home Price
            Plainfield8$394,433
            Yorkville6$312,333
            Naperville5$669,820
            Elgin4$415,287
            Aurora3$286,760
            Manhattan3$269,894
            South Elgin3$359,561
            Huntley3$361,073
            Crystal Lake3$351,332
            Montgomery3$329,275
            Lemont3$401,666
            Northbrook2$724,847

            New Homes in Chicago by Region

            RegionCommunitiesAverage New Home Price
            Downtown Chicago 68$1,162,000
            North Chicago 9$391,000
            Northwest Chicago 3$477,000
            South Chicago 25$379,000
            Southwest Chicago 108$461,000

            Chicago features many of the best home builder communities in Illinois, but finding lower priced homes has become increasingly difficult. In the last few years, the cost of building a new home in Chicago has increased substantially. Despite the rising trend of housing prices, it’s still possible to design and build an affordable home in the Chicago area. In fact, there are 3 communities and 2 builders in Chicago with homes starting at under $200K.

            How to Find Homes in Chicago For Less Than $200K?

            Many builders recognize there is growing demand in the Chicago area for homes under the $200k price point and often have a few floor plans available, but these may be in limited supply. To ensure affordability without compromising on the quality of the home, builders may utilize value engineering techniques to reduce the cost of construction and keep the price of the home as low as possible. This may include building on a smaller lot or utilizing standard-sized materials, such as windows and doors, that provide high-value for the cost. The results are delivering similar quality at lower prices.