Thursday, July 02, 2015

Indiscreetly modern: Five new houses make splash in west Lincoln Park

Five new modern design houses are being built on the 1400 block of West Altgeld in the northwestern portion of Lincoln Park.  RD Precision is the builder, marketed by Sergio and Banks. All photos Eric Rojas, Broker, Kale Realty
I took a few pictures of this modern single family home development in western Lincoln Park a week or so back.  It's typical to have a modern home mixed into a block here or there in the western part of Lincoln Park. It's very rare to see five modern homes built together... or even to see any five new single homes built contiguously on any traditional residential block on the North Side.

One of the homes, 1448 W Altgeld Chicago, IL 60614 is under contract with an asking price of $1,799,900 according to the MLS.  Another house in the development 1452 W Altgeld is listed for just under $2 million. 

The hit parade continues for new construction houses in Lincoln Park with seemly endless buyer demand. Additionally, other re-sale homes on the same 1400 block of Altgeld are under contract with asking prices from $1,098,000 to $1.5 million. 4 pending sales on the block with more to come. That's a lot of change for the block club!

This stately brick house on the 1400 block of West Altgeld is more typical for this area of Lincoln Park.
Lincoln Park houses sales over-all to date

A quick look at MLS numbers shows about 88 single family home closings from January 1st to July 1st of 2015.  The median price for a house is just over $1.6 million.

New Roscoe Village area two-story retail construction in full swing

  Construction begins at 3361 N Lincoln Avenue, Chicago 60647. The former one story retail housed Caravan Beads for many years.
The proposed new retail construction in a busy Roscoe Village / Lakeview location is underway.  The 3200-3300 blocks of North Lincoln Avenue are home to many shops, restaurants, bars and apartments. It's close to the Paulina Brown Line stop, Whole Foods, a Starbucks, the expanding X-Sport Fitness and Lincoln/ Belmont YMCA (to name a few things).  No surprise the aging single story retail was tapped for more new development.  Ashland Ave just west is also changing rapidly with new retail.

Like many strips on the north side of the city much has changed along Lincoln Ave in this location over 15 years.  I have a ton of great memories living near this location on West Roscoe Street (at Wolcott then at Damen) in the late 90s/ early "00s".  I even proposed to my wife at El Tapatio! It's still there along with Dinkel's, so, some memories live on.  Anybody remember the name of the bar at Roscoe and Paulina before Frasca opened?? Things are a little fuzzy for that time.

Wednesday, July 01, 2015

Fuzzy plans for vacant North Park University lot at Kedzie and Argyle

We drove by the lot in Albany Park on the way to house showings in the North Park neighborhood. All photos Eric Rojas, Broker, Kale Realty
As late as May of this year word on the street is North Park University still does not have concrete plans for the large lot they've cleared at North Kedzie and West Argyle in the east Albany Park neighborhood. 

The lot is located across from the university's newer built Helwig Recreation Center.  Feelers were put out some time ago to develop a parking lot (much needed for University events if not a dream come true for urban planners... wha, whaaa).

Looking North on Kedzie at Argyle.
It'd be nice if they could build up. I don't think a taller parking/ slash residential building will fly at the location. It would probably have to be too tall to accommodate cars. The development may have to be either another school facility or parking lot. The university just completed a new Johnson Center... a student center and science building on campus and they own a lot of apartment units in the area.
North Park campus (All photos Eric Rojas, Broker, Kale Realty)
Home sales in nearby Albany Park/ North Park last 12 months
Roughly 27 single family homes have sold in a four block radius of the vacant lot location on Kedzie and Argyle. The median price of a single family home is about $329,000.  Homes to the east of the lot near North California Avenue are more expensive than homes west of the lot in Albany Park heading towards North Pulaski.

The highest sale in the past 12 months was 2928 West Wilson, Chicago IL 60625 for $575,000.  The home located in Ravenswood Manor southeast of North Park University sits on a 43' wide lot and needed renovation at the time of purchase.

The lowest priced single family home sale was 3347 West Eastwood, Chicago IL 60625 for $219,000. The small frame bungalow sits close to the Kimball and Kedzie CTA train stops and North Kedzie retail and restaurants. A pretty good deal sold in multiple offers.

Street life on West Foster across from the North Park University campus

Monday, June 29, 2015

Lincoln Square: Long vacant foreclosure house finally for sale as bank owned (REO)

An infamous, long time vacant home on the 5000 block of North Oakley in Lincoln Square is finally for legitimate sale by the bank.  Citimortgage Inc is listed as the owner (yay big banks!). The partially gutted house has an asking price of $693,900 according to Coldwell Banker MLS listing.

Photo Eric Rojas, Broker, Kale Realty
5049 N Oakley, Chicago IL 60625 was built in 2000 and has been vacant for at least 7 years (as long as I've been walking by the house!). The home had a foreclosure suit filed as early as 2009 and it's taken this long to sort out.  Clients and emailers often ask where they can buy foreclosures.  For the most part you can't buy a bank owned home until it's listed for sale on the MLS like any other property or sold by a broker at auction (for example by Judicial Sales Corp) .

Demand is very high for homes in this Lincoln Square area near Winnemac Park.  A developer/ builder may be able to buy the house, refurbish and sell for profit.  I think it's also a good bet for a purchase and gut rehab for an owner if bought a little lower than the current $693,000 price.  Standard newer construction homes can easily sell in $900s.

Sold! Buyer client calls classic Portgage Park two-flat home for $387,500

We had the pleasure of working with another referral client from the Northeastern Illinois University family.  After an aggressive search of mult-units he secured a beauty in the Portage Park neighborhood near the Chicago Park District's Portage Park itself. 5238 West Hutchinson Chicago IL 60641 was priced at $387,500 and our client won a multiple offer at full price.

The Portage Park neighborhood has been on fire.  Check out our recent post on Portgage Park two-flats and multi-units.

It's notable the buyer is a U.S. military veteran and utilized a VA home loan program. Contact lender Steve Dunnett at BlueLeaf Lending if you are a veteran looking to buy or need any kind of mortgage consultation.

Sunday, June 28, 2015

Video! For sale Lincoln Square town house, fantastic outdoor space $499,900

Wow factor! 4949 N Lincoln Avenue #1 is a fee-simple corner town house built in 2007 that delivers a luxury feel. Watch the video walk-through! 

Terrific open kitchen at 4949 N Lincoln Avenue #1. Photos
This home has amazing unobstructed southeast exposure on the main level.  The massive open floor-plan provides abundant entertaining space and light.  Rare for town homes is the huge walk-out front terrace off the main living space.

The home features great outdoor space located off the main living area. The corner town house allows for a penthouse feel with wide open bright exposures and very little shared walls.
Fantastic windows for east, south and west exposure.
4949 N Lincoln Avenue #1, Chicago IL 60625 $499,000
Two bedrooms plus penthouse room
Two full baths
Two car attached garage
205 sq/ft walk-out terrace on main level
120 plus sq/ft roof level terrace (off penthouse room)
Security system, surround sound
Private entrance w/ foyer
Dual zone HVAC, new water heater
Fee-simple ownership with low assessment for landscaping/ snow removal, fitness and party rooms
Upgraded organized closets and built-ins

Grand spaces and attractive finish level in master suite.

HUGE kitchen and dining space for gathering!
Penthouse room great for family room, office or third bedroom. Awesome windows and sliding door to roof-deck.

The courtyard development is located just a few blocks from the CTA Brown Line at Western and the heart of Lincoln Square dining and retail.  Ravenswood Metra to downtown is under a mile to the east.
Easy to trains, grocery and dining.

The private courtyard!
Live in the Square! (Photo, Eric Rojas, Broker, Kale Realty)

Friday, June 26, 2015

"Travelers" at IBM Plaza ready for the bummer summer

Photo Bob DePalma, Broker, Kale Realty
The recently installed Ju Ming sculpture at AMA Plaza, 330 N Wabash Avenue, Chicago 60611 in front of the Mie's IBM building downtown. Read more about it from Architecture Chicago Plus.

I am a big fan of public art efforts in Chicago's downtown. Really like this piece.

Thursday, June 25, 2015

Under contract! East Lakeview vintage home steals a buyer's heart

Fireplace, mantel, built-ins... the bench at the stain glass window with tree top views. Lovely!
Our latest East Lakeview listing has sold after the first showings.  2817 N Cambridge #2, Chicago IL 60657 brings the charm in a fun location. The buyer was impressed with the size and architectural detail and wasted no time securing a deal.  Get your fill of restaurants, cafes, shopping and the lakefront steps outside your door. The contract is pending closing.

The secret to this sale was great listing prep by the owners and pricing right! Take the video walk-through then call us to buy or sell your new home.

Tuesday, June 23, 2015

Under contract after first showings! Tour our Gold Coast listing asking $199,000

The unit has two exposures with views! Photo
We worked with our client from start to finish on prepping his 1460 N Sandburg #808 for sale and nailed the listing with an executed contract.  We planned and carried out needed renovations (on a budget!) while the seller was out of town on work assignment.  He came home to  new place and a sale after the first few showings.

Watch the video walk through and call us to sell or buy your next place!


Old Lincoln Park Rock's space still shuttered

The Lincoln Park Rocks bar space at 1301 W Schubert, Chicago 60614 (at North Lakewood) remains vacant and windows  boarded up since the bar owner's move to North Center last year. 

A quick check shows no building permits for the space at this time and no Internet listings for sale or lease. The building is tucked in amongst mostly newer high-end residential homes and condos.  The local tavern certainly added some flavor to the quickly changing blocks but it remains to be seen if the space will remain a bar.