Thursday, March 23, 2017

New for sale! Lincoln Square two-flat $529,900, open house this weekend!

Top floor unit 2 living room
2443 West Winona, Chicago IL 60625 in Lincoln Square
Offered at $529,900.
Open Saturday March 25th 10am to 12pm
Open Sunday March 26th 1pm to 3pm

Great block with new and renovated homes.

Summer fun in Lincoln Square!
This Lincoln Square two-flat offers move-in quality units near CTA Western Brown Line. All new windows for 1st, 2nd floors and attic. Basement has 7 1/2 ft ceiling height + huge unfinished attic for expansion. Truly great value for owner operator or renovate to single family home with tons of space. 

Unit 2 living room
First floor two bedrooms, one bath apartment with spacious living room, dining room and bright eat-in kitchen with walk-in pantry. Attractive wood trim, tasteful decor and extra storage in covered porch area. Easy access to basement and yard. Second floor unit features renovated three bedrooms apartment, eat-in kitchen w/ pantry, ample closet space and gorgeous doors/ trim. Covered back deck stairs lead to unfinished attic space.

Unit 1 open living and dining
Landscaped yard with paver-patio + pergola for outdoor entertaining. Two car garage. Must see interiors make this easy live-in investment. Rental income estimated $3,200+ a month. Steps from "downtown" Lincoln Square retail, bars, restaurants and entertainment. Close to new Lycee Francais de Chicago and Andersonville!

1st floor kitchen
2nd floor kitchen

1st floor bedroom

2nd floor bedroom

Terrific paver-patio and backyard!
View more photos HERE

Exclusively listed by:
Eric Rojas, Vice President/ Broker
Kale Realty
2447 N Ashland
Chicago, IL 60614

Central Lincoln Square location!
Call us to sell or buy homes in Chicago and near suburbs!

Wednesday, March 22, 2017

Elmhurst home sales this year

Elmhurst has many great family owned businesses with long traditions of community involvement.
Our Chicago clients are moving to Elmhurst to buy a home for their growing family.  They picked the suburb due to schools, budget, transportation to the city and proximity to O'Hare. There are many options under $500,000 but they are far from perfect.  Let's take a quick look at single family home sales in this desirable city to the west.

Elmhurst home sales January 1st to March 21st, 2017
90 single family homes have sold this year in Elmhurst with a median price of about $390,000.  About 67 of those homes closed south of West North Avenue (where our clients are looking.) The median price also came in at $390,000.   

Most houses sold below the median price of $390,000 and within a mile or so of the Elmhurst Metra  (close to downtown) tend to be a little tight in size, very vintage or will need major renovations/ tear down. Homes that are close proximity to the highway noise or train tracks around the edges of Elmhurst tend to be more affordable.  You get more space and better finish level for the money.
  • 76 single family homes sold in 2016 with a median price of $385,000.  
  • Go back several years to 2013 and 92 single family homes closed with a median price of about $330,000.
The price quickly creeps up to $500,000 for a well conditioned house with three decent sized bedrooms up, at least two full baths, finished basement or family room space and quiet residential location.

Wednesday, March 15, 2017

East Village condo sales: Median price up $110K since 2014

The churches that dot East Village and Ukrainian Village add distinct culture to these popular West Town neighborhoods.
Our clients will be listing their East Village condo in West Town Community Area later this month.  Let's take a look at East Village condo sales in 2017 and a couple years past.

East Village sales area Ashland to Damen and Division to Chicago.
26 East Village condos have closed thus far in 2017 (Jan 1st to March 13th). The median price of a condo is a hefty $510,000 (a couple new construction units sold for $509,999 lol).  New construction sales and pent-up demand after last fall's 2016 elections and the Cub's World Series run have pushed sales and contracts up for most of North Side Chicago.

The highest priced sold unit is 1057 N Paulina #1 for $725,000.  The modern design new construction three beds "duplex-down" is a common style for East Village. Many buyers come to the area for the modern and contemporary units that are more readily available than in Lincoln park or Lakeview. The lowest priced sale is 525 N Marshfield #2.  The two beds, one bath vintage conversion condo (no parking included) sold for $225,000.

East Village rooftops will usually get you a church view.
  • Only 15 units sold over the same period 2016 with a median price of about $450,000.
  • 31 units sold over the same period of 2015 with a median price of $419,000.
  • In 2014, 23 units sold with a median price about $400,000.

2017 East Village sales are off to a fast start for units and high-end offerings.  Get the neighborhood scoop at East Village Association

Monday, March 13, 2017

Chasing the CTA Blue Line: Avondale home sales trending up

I spent some of the weekend looking at homes near the CTA Blue Line in the Irving Park and Avondale neighborhoods.
Our single family home buyers typically look for locations close to public transportation and in good school districts. The later can be somewhat subjective but the the former is pretty simple. They want to walk to the train.  We often follow the CTA Blue Line train heading northwest to find a home that meets our client budgets.

Bucktown/ Wicker Park have been popular for a long time and come in on the higher-end range.  Logan Square has exploded with hot bars, restaurants and residential development over the past five years. Now Irving Park and Avondale neighborhoods are meeting the demand for relatively affordable houses along transportation (and near some cool bars too).  Prices and development are up trending up.

Avondale single family home sales
130 single family homes closed in the Avondale neighborhood in 2016.  The median price over the year was about $450,000.  There were many new construction home sales.  The highest sale was a 2016 build at 2834 N Richmond St, Chicago, Illinois 60618 for $885,000. 

  • 117 Avondale single family homes closed over 2015 with a median price of only $365,000.  
  • In 2014, 109 houses sold with a median price of $345,000.

Affordable single family homes in parts of Avondale can still be found within walking distance to Logan Boulevard and trendy restaurants.
The more pricey Avondale location for houses tends to be between the Belmont CTA station (soon to get a $15 million overhaul) and the Logan Square station and east of North Central Park.  Homes are now commonly bought up for gut renovation or complete new construction in hot beds of Avondale.


Friday, March 10, 2017

Sold for $449,000, Lincoln Square frame two-flat to be converted to single family home

A small frame two-flat in Lincoln Square near Winnemac Park will become a newly renovated single family home.  2239 W Carmen was sold quickly last summer for $449,000 (MREDLLC.COM). The building sits on a wide 31' lot (desirable for new construction and gut rehab single family homes). The new owners will expand the home with second story and two-story rear additions according to building permits.

Sales area surrounding Winnemac Park: Ravenswood to Western and Foster to Lawrence.
Home sales around Winnemac Park in Lincoln Square

23 single family homes closed in the immediate footprint around Winnemac Park in 2016 with a median price of $850,000 ($850,000!). Median price is up 10% over 2015.  A bevy of newly constructed homes boosted median price for the this increasingly popular area for home buyers.  38 homes sold over 2015 with a median price of $770,000.

22 multi-units sold (2-4 flats) over 2016 for a median price of about $575,000.  18 multi-units sold over 2015 with a median price about $535,000

Winnemac Park area prices have skyrocketed over the past five years due to major retail, school and infrastructure additions to the already established parks and culture of Lincoln Square.

Thursday, March 09, 2017

One "Tasty" condo development coming to Oak Park (and a look at condo sales)

I took a good look at the "District House" condo site 700 West Lake Street in the Oak Park downtown last weekend.
Crain's reported on the proposed "District House" condos for Oak Park last March.  The modern looking project replaces the Tasty Dog site that was forced to close after financial issues in 2015. 
 One year later the development site is clear and construction fences up. Asking prices are reported in the $500s to $800s.

In 2016, 396 condo units sold for a median price of only $167,000.  Most units under $200,000 still average assessments well over $300.00 a month. The highest "non-townhouse" condo sale is $692,000 at 156 N Oak Park Ave Unit 1A, Oak Park, Illinois 60301 for an updated 2500 sq/ft vintage unit. Another 1800 sq/ft vintage unit rehab grabbed $505,000 at  212 S Maple Ave Unit 26, Oak Park, Illinois 60302. A new town house development last year had sales in the $700s showing market demand for a high-end condo project.

More traditional rental apartments sit on two other corners of the intersection. Reports suggest over 800 new residential units will be added to Oak Park in a two year span.

The increased density of apartment and condo dwellers should be a boon to the Oak Park downtown.  Many of our city apartment renter and condo owner clients move to Oak Park to buy a house due to the more affordable prices in a good school district adjacent to a substantial commercial area.

District House is at the foot of the downtown Oak Park across from Starbucks and will add additional retail space.

Wednesday, March 08, 2017

Home selling tips: Empty house, happy closing!

Our clients had a stressful interstate move with their kids and pets.  We (creatively) took care of clearing some items out of the property after they had to hit the road. Here we brought in a metal scrapper to take out a heavy grill and table and hired a cleaning crew prior to the new buyer walk-through.
Typically a house you sell must be completely empty and "broom swept clean" for the new buyers at closing time. It is prudent in contract negotiations to cover issues such as attached shelving, holes from hung art, outdoor furniture and plant potters just a name a few items.

Selling and moving is stressful no matter what (this is an understatement!). My wife and I had one of our VERY few blown out "discussions" over a microwave and ceiling fans when we sold our last home.  Add any other considerations (job change, kids, pets, interstate move, divorce, empty nest etc...) and emotions can run through the roof. There is never enough time to handle all the details. Bob and I try to make selling easier and help in any situation.

We often source and meet contractors, help remove left-over items from homes, hire cleaners, meet movers and do "wellness checks" for temporarily vacant homes. Whatever it takes!

Under contract! Uptown three beds condo gets multiple offers (unit sales up 21%)

4438 N Magnolia 2S is listed at $376,000 in Uptown. All photos Eric Rojas, Broker, Kale Realty
Our clients recently won a multiple offer on a large three bedrooms condo at 4438 N Magnolia #2S.  The single floor layout, size of bedrooms, closets and the huge back deck off the kitchen set the unit apart.  Close proximity to the CTA Red Line was also a must.  The contract is in attorney review period.

Uptown condo sales have caught fire again as retail and infrastructure development moves forward in the neighborhood. Quality restaurants, close proximity to the lake and good value (price per sq/foot) make the area attractive to condo buyers looking for space and convenience.

  • 102 Uptown condos have closed from January 1st to March 7th 2017.  
  • The median price of a condo sale is an attainable $247,000. 
  • 84 units sold over the the same period in 2016 with a median price of $248,000.  
  • The highest priced sale is $735,000 (cash) at 707 Junior Terrace Unit 8, Chicago IL 60613. The full floor vintage condo offers a vintage one-of-a-kind Chicago home only a great city can deliver.

Uptown is home to many condos in vintage walk-up buildings as well as near lakefront high-rise buildings at a very wide range of price-points.

Tuesday, March 07, 2017

Roscoe Village single family home sales

Top dollar prices have not slowed the desire to build new homes in Roscoe Village of  North Center. The above monster house is being built on Roscoe just east of Damen.
We've spent a lot of time in Roscoe Village early this year.  Let's take a quick look at single family home sales in Roscoe Village thus far in our hot early spring market around Chicago.

Sales area of Ashland to Western and Addison to Belmont.

 Only four homes have closed so far within the general Roscoe Village neighborhood boundaries from January 1st - March 6th. The highest sale is 2218 West Melrose in Audubon School district.  The four bedrooms new construction  home sits on a standard 25'x125' lot ans sold for $1,430,813 (a nice round number!).  Don't fret... you could have bought 1748 West Cornelia for a paltry $632,500.  This was actually a great deal for an updated three bedrooms home.  The block is a little wonky and house a few doors down from the L tracks... but still.

1941 West Roscoe was purchased last year for $525,000 cash by a construction company/ developer. Great deal for the location and 25'x125' lot.  The current construction permit is $15,000 of renovations, no demo permit via
14 Roscoe Village single family homes are currently under contract with a median asking price of $1,299,000.

77 single family homes total sold in Roscoe Village in 2016 for a median price of just over $1,100,000.

Thursday, February 23, 2017

Oak Park home sales in Whittier School district

Oak Park charm on a sunny warm February Sunday (All photos Eric Rojas, Broker, Kale Realty)
We're working with clients selling their city town house and looking for a single family home in Whittier School district of Oak Park.  Let's take a look at home sales for this area of Oak Park - our neighbors to the southwest.

About 50 single family homes closed in Whittier School district over 2016.  The median price was about $433,000.  A median priced home will usually get you 3 to 4 bedrooms, 1.5 to 2 baths in a well conditioned typically vintage house.  About 35 homes sold in Whittier over 2015 for a median price of about $369,000.

47 homes sold in 2014 for a median price of about $430,000.
46 homes sold in 2013 with a median price of about $425,000.

There were three million dollar home sales in Whittier over 2016.  The highest priced sale was 518 N East Ave,  Oak Park, Illinois 60302 for $1,250,000.  The ornate vintage home sits on a 100' x 173' lot.

The lowest sale was 837 N Taylor Ave, Oak Park IL 60302 for $205,000 cash.  The small one story frame home was sold in a foreclosure sale and needs some work.

A typical Oak Park in February

Eight single family homes have closed so far in 2017 with a median price of $305,000.  Ten homes are currently under contract with a median asking price of $500,000.  Only six homes are actively listed for sale in Whittier at this writing.