Lincolnwood: Cheap gas, great bagels annnnnnd... single family home sales!

 

New York Bagel & Bialy located at 4741 West Touhy Avenue, Lincolnwood IL 60712 is a destination worth going "out-of your-way". It's also a convenient stop before hopping on the Edens Expressway to the North Shore or Wisconsin. Just check out the photos of the food!

I often find myself crossing the border to Lincolnwood.  Hey, there's a Home Depot, Panera, cheap BP gas station (with an amazing Jewish deli!) and many shops a handful of minutes from my house.  Not to mention one of the best bagel joints I've ever been to... NYB&B!

I mostly walk/ bike ride around my Lincoln Square neighborhood.  When I drive for errands I often go north to the Lincolnwood BP gas station at 6599 N Lincoln Avenue has the best prices... and an awesome deli inside the station. Locals know!

There are houses too! Occasionally we have Chicago clients interested in relocating to Lincolnwood.  Let's take a look at recent single family home sales.  

Lincolnwood single family homes can run on the elaborate side but much of the town is filled with modest brick split-levels, raised ranch homes and Georgians.

Lincolnwood single family home sales January 1st through November 25th

103 single family homes have closed from January 1st to December 31st, 2022.  The median price of a sold house was $535,000. That can get you a good condition three or four bedrooms house of varying size and location around town.

153 single family homes closed in 2021 with a median price of $455,000. Despite the mortgage interest rate hikes over the year median price increased at a large margin in 2022.

 

 

Slow roll: February 2023 home sales in Chicago

 

As expected Chicago over-all home sales over the 77 Chicago community areas were down year to year in February 2023. Important to most home sellers and buyers is median price slipped 3.1% year to year.  We know March has seen a couple strong weeks due to a dip in interest rates a couple months ago. However, its expected prices will remain flat for March.

• 1,218 properties were sold in the City of Chicago in February 2023. This is a 36.7% decrease from February 2022.

• The median sales price in the City of Chicago for February 2023 was $310,000, a 3.1% decrease from February 2022.

• The City of Chicago saw listings average 94 days on the market until contract, which is a 2.5% increase from February 2022.

Of course not all market areas are the same.  Lincoln Square single family home median sales price was up 17% in February year over year.  Lake View condo median price was up in February 3.5%.  

I gather stats from the Chicago Association of Realtors and MREDllc.com (our area MLS). 

North Park Chicago single family home sales

A charming North Park home near Northeastern Illinois University. All photos Eric Rojas, Broker, Kale Realty

I was out on this cold Monday morning looking at North Park single family homes with my clients. The area is an option for their $400K budget.  It will still be tough.  About 25 homes sold at $400K or under over 2022. The condition of homes gets bleak fast under $350,000.

North Park Single Family Home Sales

62 single family homes sold over 2022 with a median price of about $450,000. As mentioned above about 25 of those homes sold for $400K and under.  One home sold for over $1M. 5741 N Kostner, Chicago IL 60646 closed for $1,249,000. 

Only six homes are currently for sale listed on the MLS. Prices range from $350,000 to $850,000.  Two additional homes are listed on the Private Listing Network.  We viewed one of those today listed at $349,900.

West Ridge super sneaky house values, median price up

 

West Ridge community area's diverse residential housing, diverse demographics, small business community and access to great parks offer great value compared to many north side neighborhoods. 

My clients are ready to trade their small Lincoln Square / Bowmanville condo for single family home life.  With one large dog, another in the works and work-from-home situation... they need more space. They are on a budget under $400,000 and open to neighborhoods further west or north to take the next step.  West Ridge may be the answer.

West Ridge single family home sales 2022

114 single family homes sold in 2022.  The median price of a sold single family home over last year was about $465,000 (about half of Lincoln Square a couple miles to the south). Only one house sold for over $800,000. With mortgage interest rates up and the buying frenzy slowed I expect that median price to plateau.  Prices will remain close however to last year's due to more renovation and development in the area delivering higher quality products.

In 2019 (pre-pandemic) 141 homes closed with a median price of $365,000
2020, 142 single family homes closed with a median price of $399,900
2021, 152 homes sold with a median price of $429,000

West Ridge has great access to large parks like Warren Park and Indian Boundary Parks. It is a short trip to Chicago and Evanston beaches. Small business, grocery stores, schools, larger retailers and religious institutions are in close proximity throughout the entire community area. 

About 13 homes are currently on the market in West Ridge with a median asking price of $500,000. 

My (younger) kids at Indian Boundary Park  back in 2015! Our 4th would have been a few months old by now... maybe I am carrying him while taking pictures? 

Record $530,000 median price for Bucktown condo sales 2022

We sold 1653 N Cortland #2 last summer in Bucktown for $566,000 in a multiple offer.  All photos Eric Rojas, Broker, Kale Realty and VHT.com. 

We're back in Bucktown looking with a condo buyer client. Last year was hot for our listings and unit sales! It is likely Bucktown 2022 saw a record high for median price.  Let's take a look at sales in 2022 and what's currently on the market.

A look at the general Bucktown neighborhood boundaries and sales from 2022.

Bucktown condo sales (townhomes, attached units) over 2022

245 condo units sold over 2022. The median price of a sold Bucktown condo was a hefty $530,000. This looks to be a record median price according to my research of the past seven years of price growth. Relatively larger and updated condo units represent the neighborhood.  There are few one bedroom condo units nor a true high-rise building. 

Fun facts:

- A two beds, two baths condo median price was about $445,000

- The median price of a condo with a minimum three beds and two baths was about $655,000.

198 condos sold over 2019 (pre-pandemic) for a median price of about $475,000. 

101 condos sold in 2020 with a median price of $490,000

A whopping 340 condos sold in 2021 with a median price of $519,000

Unit sales dropped back down to 245 units sold in 2022 with a high median price of $530,000.

Current sales

At this moment only 26 Bucktown condo units are listed for sale.  Of those only five condos are listed for under $500,000. Nine condo units are currently under contract with a median asking price of almost $700,000.

* To buy and sell condos, houses or multi-units in Bucktown and other North Side Chicago neighborhoods please contact us at Eric Rojas, Broker - erojas@kalerealty.com *

Lincoln Square single family home median price dips below record high of $836,500

A new Lincoln Square single family home is currently under construction at 2246 West Winnemac. The original two-flat building on a standard 25'x125' lot sold for $328,000 in February of this year.  All photos and data analysis by Eric Rojas, Broker, Kale Realty

125 single family homes have closed in Lincoln Square from January 1st to November 25th of this year.  The median price of a sold home is $825,000. The median price dipped below last years $836,500 over the same period.  The highest priced sold home is 4552 N Leavitt for $2,530,000. The new construction home sits on a 33'x125' lot just steps from bustling Lincoln Avenue restaurants, bars and annual festivities.

We listed and sold 2226 West Winnemac for $825,000 in May of this year.  The brick Chicago bungalow had a second story addition but an unfinished basement and needed a kitchen renovation.

Over the same period of  2021 in Lincoln Square, 137 single family homes had sold with a median price of $836,500.  That 2021 median price appears to be the record for Lincoln Square single family homes over the first 11 months of calendar year. 

2225 West Carmen steps from Winnemac Park was sold privately to a developer.  A second floor and rear addition later and the home sold for $1,250,000 in September of 2021.

Nineteen Lincoln Square single family homes are currently listed on the market priced from $575,000 to $2,750,000. Three homes priced under $575,000 are in TEMP or temporary status, not showing.  Seven homes are listed on the Private MLS including two pre-construction luxury homes priced from $1,750,000 to $2,200,000.

If you are buying or selling single family homes, condos or multi-unit buildings please contact us to help you.

New: 167 Lincoln Square apartments rise near Mariano's, Ravenswood Metra

 

One of the new Ravenswood Residence buildings looking west on Lawrence Avenue in Lincoln Square. All photos Eric Rojas, Broker, Kale Realty 

The large apartment development at the corner of West Lawrence and North Wolcott in Lincoln Square has taken full shape.  I first wrote about the Chase Bank re-development plan back in 2016. You can see some photos of the original bank building at the link. The four story mixed-use buildings steps from the Ravenswood Metra and surrounding retail are better use than the old bank and surface parking lot. I was walking home from my own grocery shopping when I decided to check back in on the project.

The two four story buildings compromise studio, one and two bedrooms apartment rentals.  

According to Harlem and Irving Companies web site the finished development will feature 167 units.

"Located at 4733 N. Wolcott Ave., The Raven Residences (opening Fall 2022) will feature (two) four-story stylish brick facade buildings. The eastern building fronting Ravenswood will feature 55 luxury studio one-bedroom apartments. The western building will be comprised of 112 opulent studios, one-bedroom units, and two-bedroom units."

You can view the site plan HERE

The new (smaller) Chase Bank branch just to the east has been open for several years ahead of the residential development. The Ravenswood Metra station also sits just west of the development.

Lincoln Square rental apartments

Other nearby newer construction rental apartments have rented quickly for hefty prices.  The 1900 W Lawrence building (Sears redevelopment) has had two bedrooms, two bathrooms rental units lease for $2,500- $3,200 per month over the last 6 months. 

-The highest priced one bedroom rented in the last six months is $2,300/ month at 4540 N Ravenswood.

-The highest rental price achieved in the last 6 months for a two bedrooms, two bathrooms rental apartment is $3,325 at 4700 N Western Ave.

-The highest priced apartment rental  in the last six months is $4,950 at 4540 N Ravenswood, Unit 8, Chicago IL 60640

JUST SOLD! Ravenswood Manor bungalow with awesome family room $700,000

Just sold! 4445 N Sacramento in beautiful Ravenswood Manor and Waters Elementary school district. Our clients made smart improvements and sold the home with multiple offers.  All photos Eric Rojas, Broker, Kale Realty and VHT.com

We recently listed and sold 4445 N Sacramento, Chicago IL 60625 for $700,000.  The home was listed at $649,900 and received multiple offers after a weekend of open houses.  We helped our clients determine the strongest offer terms and things have worked out great.  The buyers are terrific and we're really excited for them as well. Check out the 3D tour and more photos HERE

The classic three bedrooms bungalow has a huge living room with great light.  The entry foyer with gorgeous wood door and stained glass brings the character.

Our clients upgraded the home with professional waterproofing, new family room flooring and this sharp wet bar.  The finished basement space made this house huge. 

Ravenswood Manor Single Family Home Sales

The numbers below show the escalation of unit sales as we entered the phenomenon of the pandemic coupled with historically low mortgage interest rates.

31 single family homes have sold in the Ravenswood Manor neighborhood over the past 12 months with a median price $799,000. 

January 1st to October 15th:

-January 1st 2022 to October 15th 2022, 24 single family homes sold with a median price of $799,000.

-Same period 2021, 23 single family homes closed with a median price of $755,000.

-Same period 2020, 24 single family homes closed with a median price of $620,000.

-2019, only 18 homes closed over the same period with a median price of  $649,000.

-2018, 16 homes sold over the same period with a median price of $741,000.  

If you have questions about selling your home in this current market contact us today! erojas@kalerealty.com

NEW FOR SALE! Old Town condo with attached garage parking $413,999

This 1999 built twelve unit boutique building features an elevator and attached garage. The quiet cul du sac location in the middle of all the Old Town amenities and close to downtown and the lake. 227 W Scott Unit 2W is one of the lowest priced mid-rise two beds, two baths with garage parking in all of Old Town and Near North.

New on the market! Check out this Old Town condo 3D TOUR with everything a buyer asks for: Garage parking, outdoor space, in-unit washer/dryer, two bathrooms and storage! 

More listing details HERE

In the last six months, 34 two beds, two baths condos in buildings with 36 or less units (small multi-unit, mid-rise) have closed in the Near North Community area (including Old Town). The median price of a sold condo is $525,000! Take advantage of the new market conditions and get a great value. 

227 W Scott, Unit 2W, Chicago IL 60610 asking $413,999

Exclusive listing:

Contact Eric Rojas, Broker, Kale Realty

2447 N Ashland, Chicago IL 60614

erojas@kalerealty.com

Sold! Evanston single family home near Metra, shopping

 

We helped our clients secure 2322 W Harrison, Evanston IL 60201 for $995,000 in a multiple offer situation. Photo Jacki Mack, Jameson Sotheby's and VHT.com 

It was a battle! We worked aggressively since early spring to find our clients buy their forever Evanston home around $1M. Four plus bedrooms, big lot, near transportation and shops? Everybody's dream home! We are super excited for our clients. Check out details on 2322 Harrison

This large farmhouse had important updates including and awesome renovated kitchen.

Well located Evanston homes near commerce and transit have been in huge demand for years. Some areas of Evanston offer big city amenities near attractive spacious homes and lots.  It is difficult to secure a well finished four bedroom single family home under $1M near transit.  2232 W Harrison is an eight minute walk to the Central Street Metra Station.  Stop at Backlot Coffee  and many businesses on Central Street to start your day. Three play-lots within a couple blocks! Great schools? Check! 

A large backyard was a top priority for our buyers moving from the city.  How's 57' x 188' sound?

Home Sales

About 50 single family homes have sold within four blocks of 2322 Harrison Street. The median price of a closed house in this area is $820,000. Homes with at least four bedrooms and a primary bathroom suite have a median price of $1,100,000. 

Having four bedrooms AND a primary bathroom suite ups the closed median sales price to $1,100,000 

The double vanity bath with walk-in shower is like new!

Congrats to our clients on their move-up home in beautiful Evanston in the North Shore.  Please contact us to buy and sell in Chicago and the near suburbs.