Do you know where your neighborhood school is?

If you’re a single person or a childless couple you may not much care where your neighborhood school is located, or what its reputation or attendance boundaries are.

That could be a big mistake. Chicago has only a very few highly sought-after neighborhood schools, and a property’s location within its attendance boundaries can have a significant impact on property values. Parents will pay a premium to live, for example, within Lincoln Elementary School‘s attendance boundaries. If you’re buying a home that’s suitable for a family, you’re also paying a premium.

Neighborhood school attendance boundaries sometimes change – in response to demographic changes, or for Chicago-style reasons. If you’re on the cusp of buying a home, you’ll want to investigate whether any changes are in the offing. You might find your home diminishing in value for reasons that have nothing to do with broader market trends or any of the localized factors that traditionally impact home values.

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