Eric Rojas, Chicago Real Estate Broker

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Monday, November 08, 2021

Lincoln Square single family home unit sales up 35%, median price up $100,000 over 2020

Lincoln Square features a mix of original farm houses and $2M plus new construction homes. This charming home sits near West Leland and North Seeley in the heart of Lincoln Square. All photos Eric Rojas, Broker, Kale Realty

Fall season is in full swing! I love researching, viewing and selling homes during this time of year.  Let's take a look at over-all single family home sales in Lincoln Square this year (Jan 1st-Nov 1st, 2021)
 
- Single family home sales are up over 35% year to year and median price is up $100,000.

- 125 single family homes have closed from January 1st to November 1st, 2021. The median sales price of a Lincoln Square home this year is $850,000. 

- The highest priced sold home is 2130 W Agatite, Chicago IL 60625 for $2,625,000.  The 2017 built home is a re-sale on a desirable residential block near Welles Park.

- The lowest priced sold home is 2154 West Foster for $280,000.  The small frame home is located on a busy street and needs rehab.  A real estate company is the new owner but no permits have been pulled to date.

New construction sales were back in force over 2021 with many new single family homes currently permitted and under construction (new home under construction early this year on the 2100 block of West Berwyn in the Bowmanville neighborhood of Lincoln Square).

Lincoln Square home sales (January 1st-Nov 1st) over the past several years

2021:  125 single family homes sold, median price $850,000

2020:  92 single family homes sold, median price $749,900

2019:  93 single family homes sold, median price  $712,5000

2018:  123 single family homes sold, median price $645,000

2017:  119 single family homes sold, median price $688,000

2016:  91 single family homes sold, median price $660,000

We have bought and sold many Lincoln Square single family homes, condos and multi-units over the past 15 years. We often find pre-MLS and off market opportunities for our clients.  

Contact us at erojas@kalerealty.com

Friday, October 08, 2021

Under Contract! Lincoln Park condo with fantastic deck

 

2155 North Seminary Unit B, Chicago IL 60614 features a huge private deck right off the kitchen. All photos Eric Rojas, Broker, Kale Realty.

We recently listed a vintage Lincoln Park condo for sale and received multiple offers after the first open house. 2155 North Seminary Unit B (asking $369,900) is located in a gorgeous vintage building at North Seminary and West Webster. The spacious two bedroom home feature high ceilings, classic bay seating area, in-unit washer / dryer, central AC and fantastic deck! Kitchen and bath both recently renovated.  

Check out more photos of the unit HERE


2153-2155 North Seminary exterior.

The purchase contract is through attorney review and we await closing laser this month.  A whopping 622 Lincoln Park two (2) bedrooms condos have sold so far this year.  The median price of a closed two bedrooms condo is about $454,000 in Lincoln Park.



Lincoln Square former convent may be converted to apartments

 

4927 North Claremont is a former convent on the St Matthias Parish campus. The building was most recently used for early education programs, Scout meetings and various school and church activities. All photos Eric Rojas, Broker, Kale Realty

A plan has been submitted to convert a former Lincoln Square convent to 12 or more apartments.  The 4927 N Claremont building is for sale by the Chicago Archdiocese. The current purchase contract is contingent on the buyer/ developer receiving zoning change to preserve the building and convert apartments. The purchaser stated in the community meeting if they do not receive the zoning change they will not purchase the building. Currently the parcel (and block) is zoned for residential single family or two-flat development. The structure may also be bought and used for a religious organization. 


 You can view the Notice of Intent and the recorded community meeting on the project at the links. The public community review has been completed and the 40th Ward Alderman office is in general support of the proposal. The project will not alter the footprint of the building and will provide for the required number of affordable units (at least two). Next step for the zoning change applicant would be committee approval in the city council and then full council adoption read into the record. 

The Chicago Dioceses just sold a parking lot on the same block that is now being developed into family homes "as of right" per the current zoning.

Looking north down Claremont

The convent building is adjacent to the St. Matthias church building (also closed).

The property is not listed for sale on the Chicago Diocese website while other properties for sale are listed with asking prices. Often organizations will hire a Brokerage to market the property "more privately" to local or large investor/ developers. I can make an educated guess on the asking price range of the property... but I'm not going to do that here 😀

We have helped our clients make zoning application decisions based on the market value of their property and the overall marketing plan. Please reach out to us if you have questions concerning the value of your property or if you wish to purchase or sell property in the Chicago area. 



Thursday, October 07, 2021

Four new Lincoln Square homes coming to former church parking lot

Four new single family homes will be built on the 4900 Block of North Claremont in Chicago.  The block is also home to the St Matthias School building (open), the convent building (closed and for sale) and St Matthias church building (closed with minimal use currently). All photos Eric Rojas, Broker, Kale Realty

Four luxury homes are being built in Lincoln Square on a former church parking lotSt. Matthias Parish was closed permanently by the Arch Diocese of Chicago. Consequently the church parking lot at 4939 North Claremont and former convent building at 4927 N Claremont were put up for sale. I'll have a following post on that convent. 

Developer and builder Barrett Homes purchased the parcel. There is no closing sale price listed at the Cook County Clerk's office for the parking lot... but I'm guessing the parcel sold for over the $2,000,000.  There is an initial mortgage on the property for over $1.5M by owner / developer and construction permits estimating $780,000 in construction cost s for one house. I expect each single family home to list well over $1.5M when completed.

Four homes will built on the 4900 Block of North that also is home 

The four house development *may* be the largest contiguous single family home construction in the Lincoln Square Community Area since the 2007 (five new homes were built side by side on the 5000 Block of North Ravenswood). It is difficult in any popular Chicago neighborhood to acquire large parcels zoned for residential single family. We typically see one or two homes built at any time.

120 Lincoln Square single family homes have sold so far in 2021 with a median price of $850,000.  The highest priced sold home is 2130 West Agatite for $2,625,000.  Stats gathered from MREDLLC.com.


Contact us to purchase or sell property in Lincoln Square. Eric Rojas, Broker Kale Realty, erojas@kalerealty.com


Friday, October 01, 2021

Golfing for Amundsen High School Athletic Scholarships (Donate here!)

 


I'm proud to be a Social Sponsor for the Amundsen Homecoming Golf Classic! The event is SOLD OUT! You may still donate to support Amundsen Athletics scholarships by donating HERE  

Scroll down to buy raffle tickets HERE

Amundsen High School offers top notch academic and athletic opportunities. My kids are happiest when they can spend their time training and competing with their schoolmates. We need resources to provide all students the opportunity to stay active.  

Thank you to my neighbors who have stepped up to golf for Amundsen! Special thanks to North Michigan Avenue Chiropractic for playing on my team!

North Michigan Avenue Chiropractic


Social Sponsor



Thursday, September 30, 2021

Single family home sales in Old Irving Park (Sales record this year!)

 

There are many original custom built homes in Old Irving Park. In recent years the large lots have been attractive to luxury new construction home buyers moving from the tighter confines of Lincoln Park.

My clients are looking to buy a wide lot home in the Old Irving Park neighborhood of greater Irving Park Community Area. The area offers leafy streets and large lot homes close to two Metra stations and the CTA Blue Line.  Old Irving Park has a slower pace feel with less density and commotion than areas closer to downtown. There is less retail, restaurants and bars I'd consider walkable than alternative Chicago neighborhoods with comparable million dollar homes. The tranquility and easy train commute to downtown more than makes up for it! 

Old Irving Park Single Family Home Sales 2021

Old Irving Park neighborhood 

32 single family homes have closed so far this year (January 1st to September 29th, 2021). The median price of a sold home is about $625,000. Pricing trend has been up for the past five years with the peak median price last year at $670,000 

-Over the same period of 2020, 29 homes sold with an median price of about $670,000.

-2019, 34 homes sold with a median price of about $585,000
-2018, 33 homes sold with a median price of $565,000.
-2017, 41 homes sold with a median price of about $550,000

The highest priced sold home this year is 3713 North Tripp, Chicago IL 60641 for $2,249,000. This may be a record price recorded on the MLS for a resale home! There may be private, "off MLS" sales for higher amounts but I have not scanned recorded deeds.

The lowest priced home sold this year is 3712 North Lowell, Chicago IL 60641 for $320,000. 

Looking for a house? You gotta guy! erojas@kalerealty.com

Wednesday, September 29, 2021

Sold! Clients buy Lincoln Park townhouse near all the shopping (Market stats too)

We recently helped our clients buy 1810 N Fremont # 10, Chicago IL 60614 for $660,000. We viewed and secured the home prior to listing going on the open market! The townhouse development is located in the Ranch Triangle area of southeastern Lincoln Park known for is proximity to boutique shops and restaurants as well as big box retail and services along North Clybourn Avenue. All photos Eric Rojas, Broker, Kale Realty unless otherwise noted.

We've been busy in the Lincoln Park neighborhood this entire year. The neighborhood is desirable as ever and real estate demand seem to have no end.  We recently helped our clients purchase a Lincoln Park townhouse. Our clients were the first buyers to see the property "Pre-MLS" and offered immediately. In fact only half the buying couple saw it! They had lost out on at least two previous properties in multiple offer situations and were pumped to avoid competing with other buyers. 

The entrance to 1810 North Fremont townhomes in Lincoln Park.

Lincoln Park Townhouse sales

Townhomes are attached units but do not have a neighbor above or below. Townhomes are typically the closest thing to a single family home you can experience if a single family is out of the budget or the maintenance/ location of a house is not desirable to you. Some have condo associations with monthly assessments while others may be "fee-simple" and do not have the restrictions or shared maintenance of a condo association. I prefer a fee simple townhome that gives me the flexibility to rent out if desired.

-230 Lincoln Park townhomes sold so far this year (January 1st to September 24th, 2021). The median price is about $690,000. Only 157 townhomes sold over the same period of 2019 with a median price of  $709,900.

-36 townhomes are currently under contract with a median asking price of $689,900. 

-Want to live in Lincoln Park? You're in luck.  50 townhomes are currently for sale with a median asking price of about $779,000.

*Remember! We're full service buyer and listing Brokers. Please contact us direct at erojas@kalerealty.com to buy and sell property in Lincoln Park and the greater Chicago area*

Wednesday, September 22, 2021

Lakeview condo unit sales: We've had a few

All of Lakeview is densely populated and very walkable for most local residents... including my boys! It's no wonder the condo market remains extremely dynamic and popular each year. 

I was back in the Lakeview neighborhood over the weekend with our long time clients.  They would like to sell their East Lakeview (east of Halsted) two bedrooms condo they've owned for many years and upgrade to a larger unit. I've sold a few units this year around greater Lakeview and have been following the market closely. Over my many years as a Broker Lakeview demand has always been strong!

Our clients purchased a loft condo earlier this year at 1733 W Irving Park Road, Unit 314 Chicago IL 60613  for $268,000 in far north Lakeview.  This is one of four attached Lakeview units we have listed or represented in 2021. Photo VHT.com via Redfin.com

Lakeview condo sales (attached units, buildings under 50 units) January 1st to September 21st, 2021

-One beds: 125 one bedroom attached units closed so far this rear with a median price of about $212,000. Only 64 units sold over the same period of 2019.

-Two beds: 638 two bedrooms units closed for a robust median price of $420,000. Only 477 closed same period of 2020 and 436 closed over same period 2019.

-Three beds: 457 three beds units closed with a median price of $616,000. Only 266 sold over the same period 2019.

-Four beds or more: 97 four beds or more attached units sold with a median price of $875,000. Only 57 units sold over the same period 2019.

We sold a sunny, south facing Southport Corridor condo at 1432 West Roscoe Unit 2, Chicago IL 60657 in Lakeview earlier this year. We received offers after the first weekend on the market.


Our client purchased this attached, fully renovated fee simple rowhouse at 4103 N Hermitage, Chicago IL 60613  for $620,000 in a multiple offer earlier this year. The closest thing to a single family you can get with an awesome front and back yard... for a fraction of a house price! The peaceful northern Lakeview location is surrounded by million dollar homes.

Monday, August 16, 2021

Streeterville neighborhood condo sales bounce back huge

 

Ohio Street Beach views at Olive Park from 600 N Lakes Shore Drive (all photos Eric Rojas, Broker, Kale Realty)

Streeterville is known for luxury and efficiency condos in one of the most bustling areas of Chicago. Restaurants, personal services, hair salons, top ranked hospitals, museums, beaches and amusements... its got it all. However we all know dense, heavy service areas were particularly vulnerable to the pandemic. How have Streeterville condos sales looked in 2021 versus "normal" years?

Streeterville Condo Sales January 1st to August 15th, 2021

442 Streeterville condos closed so far this year with a median price of $450,000.  These are the highest unit sales numbers and median price year to year since 2015. For a moment it looked like there would be a glut of Streeterville condos and deals to be had.  That opportunity was short lived!

258 condos sold over the same period in the pandemic year of 2020 with a median price of $427,000.  This was a very anxious time early in the crisis with little known about how the year would play out. 

In 2019, 355 condos sold with a median price of $400,000

In 2018, 402 condos sold with a median price of $420,000

2017, 412 condos sold with a median price of $383,000

2016, 412 condos sold with a median price of $415,000

2015, 444 condos sold with a median price of $450,000

Lincoln Square multi-unit sales (two-four unit)

 

We listed and sold 5138 N Claremont in the Lincoln Square neighborhood early this year.  More information on this three-flat here 

We started the year selling a nice true three-flat in Lincoln Square for $815,000 and a two-flat in Alabany Park for $515,000.   Another client in the neighborhood is considering selling their Lincoln Square three-flat building.  Let's take a look at small multi-unit sales in Lincoln Square so far this year. 

Lincoln Square Small Multi-Unit Sales January 1st to August 10th  (two to four unit buildings)

61 multi-unit buildings have sold in Lincoln Square from January 1st to August 10th, 2021. The median price of a sale is about $645,000. 

Two-flats: 43 sales were two-unit buildings with a median price of about $655,000. 

Three-flats: 12 sales were three-unit buildings with a median price of $610,000.

Four-flats: 6 sales were four-unit buildings with a median price of about $780,000.

Two-flats this year have a higher median price than three-flats. Two-flats are more often renovated to a higher finish level and / or feature an "owner's duplex" unit.  This will raise the value over a three-flat building that needs more renovation or updating.

  • Over the same period of 2020 (the height of the pandemic and unknowns) only 21 multi-unit buildings sold with a medina price of about $600,000.  
  • 30 multi-units sold over the same period in 2019 with a median price of about $670,000. 
  • In 2018, 36 multi-units sold with a median about only $545,000.