Thursday, December 01, 2016

Greater Bucktown, Wicker Park home sales 2016: Median price up $300,000 since 2012

We're looking in greater Bucktown / Wicker Park of West Town above - generally Armitage to Chicago Ave and 90/94 to Western Avenue.
We have clients looking for a "move-up" single family home in the Bucktown/ Wicker Park area where they currently own a condo. The target area west of 90/94 in West Town is in play including parts of Bucktown, Wicker Park, Noble Square, Ukrainian Village and East Village.

97 single family homes have sold in the map area above from January 1st to November 30th of 2016 in the shaded area shown. The median price is just over $1,00,000 for a sold house.  The highest priced sale this year is a modern new construction stunner at 1763 W Wilmot sold at $3,800,000 (cash). 
The lowest priced home sale is 1468 N Ashland for $300,000 (cash).  The odd one story residential property was bought by a development brokerage.

50 of the sold 97 homes closed for over $1,000,000.

In 2012, 104 single family homes closed with a median price of $700,000. Median price is up $300,000 from 2012 to 2016 in the West Town area shaded above.

Here's a flashback video to 2010 a couple years prior to the price explosion.  Lots of units were getting sold and purchased at bargain prices.  Condo unit sales in West Town began to rival those of high density Lake View. Enjoy!



Wednesday, November 30, 2016

Progress and past of controversial "Benchmark" development in Lincoln Park

Progress photo of the Benchmark development on the 2700 block of north Magnolia in Lincoln Park earlier today (photo Eric Rojas and Bob DePalma, Brokers, Kale Realty). Kale is not the listing brokerage.
Buildingupchicago.com wrote a good story back in July on the "Benchmark" development on the 2700 block of North Magnolia.  The five building project is distinct, if not controversial, in that an 1884 built church at 2750 N Magnolia was torn down.  The rectory at 2746 N Magnolia was saved and has been renovated into a modern single family home maintaining the original architecture.

Condos in the development are listed from $650,000 to just under $1.3 million for a penthouse unit (several units are under contract).  A single family home in the development at 2742 N Magnolia is listed at just under $2 million on a 24'x125' lot. The block is turning mostly new construction with several other recently built single family homes offered and new construction closed sales.

A few modestly updated homes sold from $850,000 to just over $1 million over the last 24 months.  A new construction home at 2730 N Magnolia built in 2015 and closed early this year sold for $3,050,000 on a 40'x125'.  This block backs up to the 2700 block of North Lakewood which has also been transformed from mixed housing and industrial to mostly new construction single family homes and condos along an old rail line.

Tuesday, November 29, 2016

Lake View Sports Authority building still vacant

3134 N Clark Street, Chicago IL 60657 (Photo, Eric Rojas, Kale Realty)
The former Sports Authority store at 3134 N Clark Street in Lake View is still vacant. The property is marketed for lease as Clark / Barry Commons.  We noticed a couple workers with a ladder last week working on the old sign. Bob's Furniture is taking over the Fullerton Avenue store.

This location is across from Point at Clark featuring several chain retailers DSW, Marshalls and Michael's. Briar Street Theater , Binny's and dozens of restaurants/bars/shops are near the parcel.  One can expect another large chain retailer. The area (and Chicago's North Side in general) has seen so much large commercial redevelopment that it is hard to believe this site would not be redeveloped into two story retail space for a new store. 

All about the Benjamins.

Checking in on Clark Street development in Lake View

The 3200 N Clark exterior seen today nears completion. The new eight story, 90 unit development has changed and modernized busy the corner of Clark and Belmont. A Target Express with Starbucks Coffee is scheduled to open in the building July 2017. Will there be a Starbucks across from a Starbucks?


Further north on Clark between Addison and Waveland we see the glassy new home offices of the Chicago Cubs taking form along with exterior plaza construction around Wrigley Field.  On the left of the photo construction has started on a new hotel replacing the infamous McDonald's / parking lot.

Wednesday, November 23, 2016

Permit issued for 134 new residential units in East Lake View (Broadway and Sheridan)

Renderings for 3833 N Broadway apartments by Jonathan Splitt Architects
A new eight story mixed-use 134 unit residential building at 3833 N Broadway in East Lake View has been issued a construction permit in the tune of $8,000,000. The massive building received zoning approval in April 2015.

The corner of Broadway and Sheridan where 3833 N Broadway will be built. Image Google Maps

Curbed Chicago has more information on the project HERE 
The Curbed article also mentions another 100+ unit building that will be developed across the street at 3901 N Broadway. Wow, over 234 units at the busy corner near the lake!

Tuesday, November 22, 2016

Sold! Snow birds buy home in Northbrook


The Meadow Ridge community in Northbrook features beautiful views of the Techny Towers.

Congrats to our newly retired snow birds on their home purchase in Northbrook, IL! These repeat clients needed a home near their daughter in Chicago for half the year. The other half of the year is spent in sunny Florida.  The Glenview / Northbrook area offered several great choices for newer homes near shopping, golf and easy highway access to the city. The North Shore village provides a beautiful lakefront nearby, cultural activities and the civic community they desire for their active retirement years.



Our clients closed today on their Northbrook home at 2282 Washington Drive in the Meadow Ridge gated community.  The new construction home features a ground floor master suite.
A landscaped "prairie" with flowing stream winds through the property.
We secured the new construction 2282 Washington Drive Unit C for $689,000.  The newly designed, more open plan  "Model C" has one of the more upgraded kitchens and master baths we've seen! The home features three bedrooms, a separate office, a large bonus room, two car attached garage and terrace. New construction closings for all models in the last year have gone from $580,000 to $780,000 (also a "Model C"). 

The Meadow Ridge development in Northbrook is squeezed between a couple golf courses and adjacent to convenient, walk-able shopping and dining. 
Contact Bob and I to find your next home in Chicago, the North Shore or near west and south suburbs.

More original Lincoln Park homes torn down to build new

A demo permit was issued yesterday for this attractive brick and masonry home at 2042 N Fremont in one of the more expensive enclaves of Lincoln Park. The property is already listed on the MLS as a design and build project for $3,599,000. Photo Cook County Assessors office via ChicagoCityscape.com.
I took notice this week of a couple more recent demo permits in East Lincoln Park.  The buildings happened to grab my attention due to our dealings near by. They are the types of original buildings I'd love to see stick around in the neighborhoods.  I post these tear downs from time to time to point out market activity and prices around some of the neighborhoods we do business.

726 W Diversey was sold in June for $975,000 and will be torn down to erect a new 3 story residential building. The East Lincoln Park units will be in high demand in this highly desirable, walk-able location near the lakefront. A three beds, two baths newer construction condo next door at 725 W Diversey Pkwy Unit 4W, Chicago, 60614 recently sold for $680,000.

Got tools? Nonprofit Chicago Community ToolBank can help get the tools you need for your project

Does your organization need tools for a project? ToolBank can help!
A past client and friend is the Executive Director of Chicago Community ToolBank 

Here's a great video that shows what ToolBanks can do for your organization.



The ToolBank warehouse may have the equipment you need to build a playground, work stations, community gardens and more!
"Chicago Community ToolBank is a new organization that lends out tools to help communities and organizations with projects where tools are necessary but they might not have or have the money to buy."  Check out Alisha's interview on Chicago Community ToolBank here on Comcast Newsmakers

If you have tools to donate, industry expertise or would like to get involved with their board please contact Alisha Wenc Executive Director alisha.wenc@toolbank.org (312) 952-8896  

Do something good this holiday season and support Chicago Community ToolBank!


Monday, November 21, 2016

More buildings come down at Children's Memorial site

2350-2358 N Lincoln across from the Children's Memorial main building demo and just north (adjacent) to the old parking garage began demolition last week. The entire development site is in full demolition stage. The changes to this busy section of Lincoln Park are certainly dramatic as more than just old hospital buildings are torn down.

Demo, demo, demo at old Children's Memorial in Lincoln Park

You have to visit the site to get the full effect of the eerie Children's Memorial demolition in the heart of a busy Lincoln Park neighborhood. I took a few more photos last week after visiting 444 West Fullerton. The large hospital structure is almost entirely gone and the site lines driving west up Fullerton are striking.  Here's a look at the over-all development plan.
I can't help but double take when I approach the open space at the corner of West Fullerton and North Orchard in Lincoln Park.  The tedious demolition of the former Children's Memorial Hospital nears completion.
This terra cotta structure at Fullerton and Lincoln is the latest victim of the re-development plan of the multiple sites at Children's Memorial. 
It will be a relief when this part of town is put back together.