Land and home values in Summit, IL
Summit is a village in Cook County, Illinois, home to about 10,846 people. Residential land runs about $10.40 per sq ft, the typical home is worth about $274,000, and a 2-bedroom rents for about $1,410 a month, as of October 12, 2026.
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| Land: residential | $10.40 | per sq ft |
| Land: residential | $453,024 | per acre |
| Land: quarter-acre lot | $113,256 | 10,890 sq ft |
| Home: typical (median) | $274,000 | value |
| Home: entry-level | $238,000 | lower quartile |
| Home: upper-end | $395,000 | upper quartile |
| Build new | $194 | per sq ft, no land |
| Rent: 1-bedroom | $1,250 | per month |
| Rent: 2-bedroom | $1,410 | per month |
| Rent: 3-bedroom | $1,810 | per month |
| Rent: 4-bedroom | $2,100 | per month |
| Gross yield, 2-bed | 6.2% | a year |
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Questions people ask
How much is land worth in Summit, IL?
Residential land in Summit, IL is about $10.40 per square foot, or $453,024 an acre, as of October 2026. A quarter-acre lot (10,890 sq ft) is about $113,256. Smaller lots sell for more per square foot and large tracts for less.
What is the typical home value in Summit, IL?
The typical (median) home in Summit, IL is worth about $274,000, with entry-level homes around $238,000 and upper-end homes around $395,000, as of October 2026.
How much is rent in Summit, IL?
A 2-bedroom rents for about $1,410 a month in Summit, IL, a 1-bedroom about $1,250 and a 3-bedroom about $1,810 (gross rent including utilities, HUD Fair Market Rent basis).
Is this an appraisal?
No. Indicative values for screening, budgeting and negotiation, not an appraisal. For lending, a tax appeal or legal use, hire a state-licensed or certified appraiser.