Thursday, November 08, 2018

Two NEW Lincoln Square / Ravenswood developments steps from the CTA Brown Line at Damen

Demo, including some nice trees, was completed a few weeks ago at 4713 N Damen in Lincoln Square/ Ravenswood.  A six flat building will replace the former frame building and small addition that occupied the property.
Two projects are in development steps from the CTA Brown Line station and a couple blocks from the Lincoln Square restaurant and retail center. 4713 N Damen pictured above was a property long for sale privately, not on MLS (well, privately despite a giant billboard on the property). The land had fallen into foreclosure proceedings in 2013 but did sell this year for just over $1.2 million according to recent public records. The new construction six-flat building will sit between the former "The Rail" bar and grill to the south and the Rambler Lofts to the north.

Ravenswood Station a single story commercial building (formally The Rail Bar and Grill) sits adjacent to the south of the new six flat development.
The construction permit on 4713 N Damen via is estimated at about $750,000 but there is a roughly $5.2 million mortgage taken out on the property.

4646 N Damen that sat next to the CTA "L" tracks was sold in 2015 (and closed in 2018 for $436,000) along with the adjacent property to the north. 4650 N Damen to the north held on and finally sold for $700K.
Just south and across the street 4646 N Damen- 4650 N Damen (both small frame homes) were sold to make way for a new 24 unit TOD development (transit oriented development explained). It took about three years for the developer to secure the second property at 4650 N Damen for $700K after entering into a contract with  the first at 4646 N Damen for $436,000. More info here.  

The development sits across from the CTA Damen Brown Line station entrance and adjacent to the exit stairs and tracks. Friends joked there should be a pedestrian sky-bridge from the building to the station so you don't have to cross the street with the common folk. 

The improved CTA Brown Line station with exterior and interior bike storage.

The building will sit adjacent to the CTA tracks on the south and a vintage mixed use building to the north.  Friendly Aroy Thai next door and popular long time business Perfect Cup coffee is on the Leland/ Damen corner a few steps away.

Interestingly, these new construction buildings represent the first substantial multi-unit residential construction along North Damen from West Montrose to West Lawrence (four city blocks). This despite the location so close to the CTA station and the very active and successful residential development on Damen north of Lawrence and up and down West Lawrence nearby going on for a good seven years now.

Under contract! 330 West Diversey #2304 - Mies with great lake views!

Watch the video! Our latest Lincoln Park listing at 330 West Diversey Unit 2304 Chicago IL 60657 under contract asking $309,900

330 West Diversey Chicago IL 60657 Unit #2304 listed at a great value price of $309,900
A recent San Francisco transplant told us he fell in love with this unit the moment he walked in! A spacious unit with water views is only a dream back west. The buyer acted quickly and the unit is now under contract. Mies Van Der Rohe's  330 West Diversey  Commonwealth Plaza borders the East Lakeview and Lincoln Park neighborhoods and is a fantastic place to live.  Steps from Diversey Harbor, golf, tennis, lakefront parks, trails and fantastic dining. The building itself has doorman service, dry cleaner, fitness room, pool and convenience store with good food, wine and beer options.

Open, renovated kitchen.
Really large living room and dining space with lake views.
Wake up to bright and spacious bedrooms with lake views.
Master bedroom with lakefront views and walk-in closet.
Master bath.

Second bedroom with large closet.

Second bathroom.
The unit is freshly painted with new modern baseboards for a terrific clean look. Assessment includes water, insurance, cable, Internet, heat and A/C! Parking garage on site with spots around $200 / month.  Building owners may rent out the units.  Storage space included, bike storage available for $75.00 / month.

The kitchen has been opened up to the living space for optimal entertaining.

Open, bright living space.

The large outdoor pool area is beautifully landscaped and looks out over Lincoln Park
Living at 330 West Diversey is all about lifestyle. Enjoy endless leisure and fitness activities steps from the famous Chicago lakefront. It is a really beautiful area filled with parks, restaurants, bars and every day services to make life easy.
330 West Diversey is only steps from Diversey Harbor

Endless opportunities for recreation in the park filled lakefront at your doorsteps!
Exclusively listed by
Eric Rojas, Broker
Kale Realty
2447 N Ashland, Chicago IL 60614

Thursday, November 01, 2018

New 54 unit building coming to Andersonville's North Clark Street

Each day scan local construction permits sent to me by Chicago Cityscape.  If something looks interesting, is nearby or I have some sort of information to add I'll post about it.  Today I swung by a new Andersonville development site on the way to showings in Lakeview. All gloomy weather photos Eric Rojas, Broker, Kale Realty.
A fairly large residential apartment development is coming to North Clark Street Andersonville.  4906 to 4918 North Clark (view palns here) was issued their main construction permit yesterday at an estimated cost of $5.5M.  The four-story building will feature 54 residential units, ground floor retail and 29 parking spots will take the place of Africa Auto Repair business.  Another auto repair shop sits adjacent to the north. The location further consolidates the popular Andersonville neighborhood business and residential re-development south to West Lawrence.

A Macon Construction crew was already on site making preparations for demolition work. I chatted with a crew chief for a few moments.
The property occupies the northwest corner of West Ainslie Street and Clark Street and stretches a few lots north.
I did not find any sales numbers for the property through public data.  However the property had some utility liens and a lis pending foreclosure recorded in 2017 prior to the property changing hands.  An "Agreement" was recorded in May of this year but no amount given.  

A pair of small vintage multi-unit buildings sit across the street.  4913 North Clark (on the left) sitting on a 37' wide lot sold last in 2013 for $525,000.

More buildings across the street. Popular local hangout SoFo Tap is at the corner.
Over the last twelve months from 4800 North Clark Street to 5200 North Clark Street, 13 attached properties properties (condo, town house) have sold with a median price about $380,000.  This four block stretch is slowly adding residential units and replacing old commercial and vacant lots.  This is a great place to add density.  Most needs and wants are within walking distance and a quick bus ride gets you everything else. Easy to the lakefront too.

Do your yard right at Christy Webber Farm and Garden in West Town

Christy Webber Farm and Garden is located at 2833 West Chicago.  We often refer our West Town and Oak Park clients here for landscaping needs.

 I stopped by Christy Webber Farm and Garden a couple time this year for gift certificates and supplies.  The garden center is located between giant Humboldt Park and the Garfield Park Conservatory.

My planters never look like this 😐
This is a great resource especially if you live on the Near West and West Sides, Ukrainian Village, Bucktown, Wicker Park, Oak Park, and Humboldt Park neighborhoods.  

Monday, October 29, 2018

How scary are Gold Coast home sales this year?

Looks cute then you look up! All photos Eric Rojas, Broker, Kale Realty

This one creeped out the kids!

Some pretty with the scary.
We've spent a lot of time in Gold Coast with clients and family activities over the past month. Gold Coast residents enjoy scaring you around Halloween time.  But are they enjoying real estate sales in the neighborhood?  Let's find out!

Sales numbers from the above above shaded area in the Gold Coast neighborhood. (Excludes Chicago Avenue and La Salle Blvd not considered in the neighborhood boundaries)

Gold Coast Single family home sales (including row homes) January 1st to October 26th, 2018
My kids really liked the animatronic dinosaur!
Fifteen single family homes have sold this year in Gold Coast for a median price of about $2,250,000.  The highest priced sold home is 1440 N Dearborn Parkway, Chicago IL 60610 for $4,625,000. The lowest priced home to sell is 57 West Burton, Chicago IL 60610 for $1,083,000.

In 2017, fourteen single family homes sold with a median price around $2,000,000.  However, the highest home sold for $7,500,000.  Go back five years to 2013 and seventeen homes sold over the same period with a median price right around $2,000,000.  Despite the very unique high-end properties of this neighborhood the median price remained fairly consistent over the last five year real estate run up in Chicago Near North and North Sides.

Snap shot:
2018, fifteen homes sold with a median price of $2,250,000
2017, fourteen homes sold with a median price about $2,000,000
2016, sixteen homes sold with a median price about $2,030,000
2015, eight homes sold with a median price about $2,100,000
2014, nineteen homes sold with a median price about $2,600,000 (most homes sold and highest median in past five years)
2013, seventeen homes sold with a median price about $2,000,000

Gold Coast condo sales this year

"Backyard" view of the Gold Coast from a hallway window at Latin School.

894 condo units have sold so far this year with a median price of $390,000. Wow, seems like a lot of units sold!  It is!  Over 100 units more sold than in the same period 2017.  The highest sold unit so far in 2018 is the eye-popping $12,100,000 at 9 West Walton. Oh, and it is raw unfinished space.  The lowest sold condo is 201 East Delaware Place Unit 908 for $99,995. The hotel condo unit was bought cash.  $99K to $12 million in the same neighborhood this year.

In 2017 over the same period 784 units sold with a median price of $377,900.
2016, 803 units sold for a median price of $420,000.
2015, 777 units sold with a median price about $390,000
I'd give some more years but my Internet is acting up and I need to move on with other work today!

We don't see the wild price run up in Gold Coast from five years ago to the current year.  I think this is consistent with most areas (city or suburb) that feature really high-end, unique properties. 

Beautiful Gold Coast row house.

Friday, October 26, 2018

Need a piano moved? Coffey Bros Movers does that!

The family was excited to see the Coffey Bros moving truck pull up with our piano last month.
Coffey Bros Moving has worked with my family and our clients in the past. They've even become a sponsor on our site. When it came time to buy a piano for our kids we asked Coffey Bros to do the job.

The guys were on time at the pick up destination in Lakeview (second floor apartment) and quickly had the piano loaded and delivered to my house in Lincoln Square. It was wrapped up tight and moved carefully to our den.

No wall damage on the way in!  I expect some gashes with big pieces like this.
The guys took great care in placing the piano where we wanted it.
We always appreciate the good communication and easy booking process with Coffey Bros.  There are several big moving outfits and many "little guys" in Chicago. The #1 complaint I hear from clients and friends is the moving company and movers had awful customer service. Especially on the moving day!  Don't take a chance.  Make sure you work with professionally trained Coffey Bros Movers.

Horner Park single family home median price UP 69% from 2014 (condos up 37% too)

A new condo development across the street from Horner Park nears completion.  
Single family home sales January 1st to October 19th

Full renovations and new construction homes have fueled rising median price.
The Horner Park neighborhood in the Irving Park Community Area (Montrose to Irving, California to Kedzie) has seen a price boom from just four years ago. Price is driven mostly by old frame homes replaced by large new construction and full gut renovation homes. Bateman School district, amenity filled Horner Park, Irving and Montrose businesses, access to highways, various North Side high schools and quiet residential streets have made this an attractive destination for long term buyers.
Horner Park is a large popular park with lots of amenities resting just west of the North Branch of the Chicago River.
Sixteen single family homes have sold in the Horner Park neighborhood from January 1st this year to October 19th.  That is super consistent for this relatively small area over the past four years.  The median price for a Horner Park neighborhood house is about $650,000.  The highest priced sale is 4047 North Albany Avenue, Chicago IL 60618 for $1,035,000.  The new construction home is built on a 37' wide lot.  The lowest home sale price is 4335 North Albany for $245,000.  You know the fate of this original frame house!

In 2016, eighteen homes sold for a median price of $660,000 over the same period.
2014, fifteen single family homes sold with a median price of only $390,000!
Condos across from the park along Montrose Avenue.
Condo sales January 1st to October 19th

Seventy-six attached condo units have sold (including town homes) for a median price of $240,000.  The highest sold condo price is at 4335 North Mozart Unit 4 for $433,000. The three bedrooms, two baths top floor unit was built in 1999 and is listed at 2000 sq/ft.  The lowest priced condo sale is 4345 North Sacramento Unit A-1 for $110,000. The first floor 2006 renovated unit was sold as a short sale.

In 2016, eighty-five condos sold over the same period with a median price of $200,000. 
Back in 2014, only fifty-one condo units sold with a median price of about $175,000.  

Wednesday, October 24, 2018

NEW Spark Montessori school joins Horner Park neighborhood boom

I stopped by Horner Park to check out recent development adjacent to the park.  I ended up learning about the new Montessori school opening soon at 4326 North California Avenue, Chicago IL 60618.
I visited the development action around Horner Park Park District on Monday after showings.  I ran into the owner / developer of Spark Montessori school located right across the street from the Horner Park play lot.  Pretty good location!  Val noticed me taking photos and showed me around the property.  We also enjoyed discussing the local real estate market.

Horner Park play lot and field house are located directly across the street from Spark Montessori.  Lots of parkland for outdoor activities.
You can check out more about Spark Montessori HERE.  They would like to be open for classes by January 2019. With four kids of my own and many young families as clients on the North Side I understand there is strong demand for early childhood education. Several improved CPS schools with swelling enrollments have had to discontinue their PRE-K and gifted magnet programs to adsorb neighborhood kids.

Horner Park, located in the Irving Park community area of Chicago, has seen it's share of booming single family home and condo development over the past five years.  The median price for a single family home in the neighborhood is over $625,000 while the median price of a condo is an affordable $240,000 (however new construction condo median price is double that).

I'll have more on recent Horner Park neighborhood sales later today!

Tuesday, October 23, 2018

Kenwood single family home sales (and the Obama house photo-op)

We decided to take a photo in front of this house at South Greenwood and East Hyde Park in the Hyde Park-Kenwood neighborhood.
My oldest son played hoops on 47th Street in the Kenwood neighborhood last week.  I used the occasion to walk him over to Mr. and Mrs. Obama's residence for a picture.  It was my son's first tour through the magnificent Kenwood mansions and his first visit to our former president's house. This was an enjoyable excursion for us and a good opportunity for a history lesson. My son got to dream a little.  I may have shed a tear in front of 44's house...

A large, dreamy estate in the Kenwood neighborhood. 
The modern and contemporary homes that sprinkle Kenwood are my favorite (although I did not get very good photos on this walk).
This was another large property with lots of land.  However, many of the vintage home are in need of upkeep.
The Kenwood neighborhood footprint.
Kenwood home sales January 1st to October 19th, 2018

34 single family homes have closed in the Kenwood neighborhood this year. The median price of a closed home is $600,000.  Eight homes have sold over $1,000,000. The highest sold home is 5008 N Greenwood, Chicago IL 60615 for $1,850,000. The large classic estate home had many renovations and sits in the "mansion" area of Kenwood. The lowest priced sold home is 828 East 47th Place, Chicago IL 60615 for $121,900. The tenant occupied row home sold as a foreclosure and the buyer was not allowed entry prior to purchasing while.  For that price you take the chance!

Past sales notes
The unique mansion area, many vintage row houses and diverse housing stock 
coupled with wide swings in socioeconomic demographics north and south of 47th Street make for a quirky real estate market.  The median price of a house has stayed fairly consistent over the years despite fluctuations in unit sales numbers. 

-Two years ago in 2016, 24 homes sold over the same period with a median price about $595,000.  A couple homes sold over $2 million that year.
-In 2014, 21 homes sold with a median price about $500,000.  The highest sold house closed for $2.7 million.  
-Seven years ago in 2011, just 13 homes sold over the same period with a median price right around $500,000.  Yet a fully renovated house on an average sized 60' x 179' lot for the Kenwood mansion area sold for $2.3 million.

This contemporary is getting a little work done.

Several homes are of the Art Deco variety.