If the list price of condos or townhomes in River Forest has you thinking that you can't afford to live there, you might want to rethink. A sale at or near list price is unusual - unless the property has been listed for a while and had several price reductions.
If you looked in River Forest five or six years ago and concluded you couldn't afford to buy there, you might want to take another look. Prices have fallen from peak levels, substantially in some cases.
A two-bedroom second-floor condo at 8027 Lake St sold for $157,000 in 2004. It closed last month a sale price of $67,500, 57% below the 2004 price.