New: 167 Lincoln Square apartments rise near Mariano's, Ravenswood Metra

 

One of the new Ravenswood Residence buildings looking west on Lawrence Avenue in Lincoln Square. All photos Eric Rojas, Broker, Kale Realty 

The large apartment development at the corner of West Lawrence and North Wolcott in Lincoln Square has taken full shape.  I first wrote about the Chase Bank re-development plan back in 2016. You can see some photos of the original bank building at the link. The four story mixed-use buildings steps from the Ravenswood Metra and surrounding retail are better use than the old bank and surface parking lot. I was walking home from my own grocery shopping when I decided to check back in on the project.

The two four story buildings compromise studio, one and two bedrooms apartment rentals.  

According to Harlem and Irving Companies web site the finished development will feature 167 units.

"Located at 4733 N. Wolcott Ave., The Raven Residences (opening Fall 2022) will feature (two) four-story stylish brick facade buildings. The eastern building fronting Ravenswood will feature 55 luxury studio one-bedroom apartments. The western building will be comprised of 112 opulent studios, one-bedroom units, and two-bedroom units."

You can view the site plan HERE

The new (smaller) Chase Bank branch just to the east has been open for several years ahead of the residential development. The Ravenswood Metra station also sits just west of the development.

Lincoln Square rental apartments

Other nearby newer construction rental apartments have rented quickly for hefty prices.  The 1900 W Lawrence building (Sears redevelopment) has had two bedrooms, two bathrooms rental units lease for $2,500- $3,200 per month over the last 6 months. 

-The highest priced one bedroom rented in the last six months is $2,300/ month at 4540 N Ravenswood.

-The highest rental price achieved in the last 6 months for a two bedrooms, two bathrooms rental apartment is $3,325 at 4700 N Western Ave.

-The highest priced apartment rental  in the last six months is $4,950 at 4540 N Ravenswood, Unit 8, Chicago IL 60640

JUST SOLD! Ravenswood Manor bungalow with awesome family room $700,000

Just sold! 4445 N Sacramento in beautiful Ravenswood Manor and Waters Elementary school district. Our clients made smart improvements and sold the home with multiple offers.  All photos Eric Rojas, Broker, Kale Realty and VHT.com

We recently listed and sold 4445 N Sacramento, Chicago IL 60625 for $700,000.  The home was listed at $649,900 and received multiple offers after a weekend of open houses.  We helped our clients determine the strongest offer terms and things have worked out great.  The buyers are terrific and we're really excited for them as well. Check out the 3D tour and more photos HERE

The classic three bedrooms bungalow has a huge living room with great light.  The entry foyer with gorgeous wood door and stained glass brings the character.

Our clients upgraded the home with professional waterproofing, new family room flooring and this sharp wet bar.  The finished basement space made this house huge. 

Ravenswood Manor Single Family Home Sales

The numbers below show the escalation of unit sales as we entered the phenomenon of the pandemic coupled with historically low mortgage interest rates.

31 single family homes have sold in the Ravenswood Manor neighborhood over the past 12 months with a median price $799,000. 

January 1st to October 15th:

-January 1st 2022 to October 15th 2022, 24 single family homes sold with a median price of $799,000.

-Same period 2021, 23 single family homes closed with a median price of $755,000.

-Same period 2020, 24 single family homes closed with a median price of $620,000.

-2019, only 18 homes closed over the same period with a median price of  $649,000.

-2018, 16 homes sold over the same period with a median price of $741,000.  

If you have questions about selling your home in this current market contact us today! erojas@kalerealty.com

NEW FOR SALE! Old Town condo with attached garage parking $413,999

This 1999 built twelve unit boutique building features an elevator and attached garage. The quiet cul du sac location in the middle of all the Old Town amenities and close to downtown and the lake. 227 W Scott Unit 2W is one of the lowest priced mid-rise two beds, two baths with garage parking in all of Old Town and Near North.

New on the market! Check out this Old Town condo 3D TOUR with everything a buyer asks for: Garage parking, outdoor space, in-unit washer/dryer, two bathrooms and storage! 

More listing details HERE

In the last six months, 34 two beds, two baths condos in buildings with 36 or less units (small multi-unit, mid-rise) have closed in the Near North Community area (including Old Town). The median price of a sold condo is $525,000! Take advantage of the new market conditions and get a great value. 

227 W Scott, Unit 2W, Chicago IL 60610 asking $413,999

Exclusive listing:

Contact Eric Rojas, Broker, Kale Realty

2447 N Ashland, Chicago IL 60614

erojas@kalerealty.com

Sold! Evanston single family home near Metra, shopping

 

We helped our clients secure 2322 W Harrison, Evanston IL 60201 for $995,000 in a multiple offer situation. Photo Jacki Mack, Jameson Sotheby's and VHT.com 

It was a battle! We worked aggressively since early spring to find our clients buy their forever Evanston home around $1M. Four plus bedrooms, big lot, near transportation and shops? Everybody's dream home! We are super excited for our clients. Check out details on 2322 Harrison

This large farmhouse had important updates including and awesome renovated kitchen.

Well located Evanston homes near commerce and transit have been in huge demand for years. Some areas of Evanston offer big city amenities near attractive spacious homes and lots.  It is difficult to secure a well finished four bedroom single family home under $1M near transit.  2232 W Harrison is an eight minute walk to the Central Street Metra Station.  Stop at Backlot Coffee  and many businesses on Central Street to start your day. Three play-lots within a couple blocks! Great schools? Check! 

A large backyard was a top priority for our buyers moving from the city.  How's 57' x 188' sound?

Home Sales

About 50 single family homes have sold within four blocks of 2322 Harrison Street. The median price of a closed house in this area is $820,000. Homes with at least four bedrooms and a primary bathroom suite have a median price of $1,100,000. 

Having four bedrooms AND a primary bathroom suite ups the closed median sales price to $1,100,000 

The double vanity bath with walk-in shower is like new!

Congrats to our clients on their move-up home in beautiful Evanston in the North Shore.  Please contact us to buy and sell in Chicago and the near suburbs. 

Quick look: Highland Park single family home sales

 

Highland Park features a diverse price-point and style of single family homes lining winding, leafy streets. All photos Eric Rojas, Broker, kale Realty

It has been a busy summer for us looking for homes on Chicago's North Shore.  We continue working with clients into this early fall season as market conditions change like the color of leaves! This week we viewed Highland Park single family homes in the $500,000 to $700,000 range.  It's a tough price-point with low inventory. 

Highland Park Single Family Home Sales

370 single family home have sold this year (January 1st to September 16th). The median price of a sold home is about $700,000.  That median price is way up over just a few years ago.

The highest priced sold home this year is 2255 Egandale Road, Highland Park, IL 60035 for $4,500,000.  The lakefront property is one of two houses that have sold for over $4 million this year in Highland Park 

The lowest priced closed home is 1552 McDaniels Avenue, Highland Park IL, 60035 for $210,000 cash.  This small home near downtown and the Metra station sits on a 50' x 97' lot.  

Millard Park and Beach on Lake Michigan at the end of Ravine Road 

Recent Sales 

In 2018, 310 single family homes sold over the same period (January 1st to September 16th) with a median price of $545,000.  That's about $150,000 less than the median price in 2022.

2019, only 274 homes closed over the same period with a median price of $505,000.

In 2020 (the start of the pandemic), 372 single family homes sold with a median price of $535,000.

In 2021, 423 homes sold with a median price of $655,000. The 2021 price jump was huge just as it was in many desirable cities across the country.  

As posted above 370 single family home have sold this year (January 1st to September 16th, 2022). The median price of a sold home is about $700,000. 

Sold! North Center two-flat $579,900

4146 N Campbell, Chicago IL 60618 sold for $579,900 by Eric Rojas, Broker, Kale Realty erojas@kalerealty.com
All photos property of VHT.com or Eric Rojas, Broker, Kale Realty

We recently sold our North Center listing at 4146 North Campbell, Chicago IL 60618 for $579,900... list price. This great value listing received multiple offers. The well kept building features super clean two apartments with two bedrooms, one bath each. MORE PROPERTY DETAILS HERE 

Contact us at erojas@kalerealty.com to buy or sell Chicago properties... we have access to pre-MLS and off market, private listings!

The nice seized backyard and two car garage are in great condition.

North Center well kept, super clean brick two-flat in highly rated Coonley and Amundsen neighborhood school districts! This building is in the Accessory Dwelling Unit pilot area with huge potential to add an  additional apartment!

More photos HERE

Both apartments two beds, one bath, SEPARATE HVAC (gas furnaces and central AC!!), separate water heaters, separate electric. Replacement windows throughout (older but in great shape). Roof, HVAC all 20yrs or so. 30' wide x 116' lot, nice yard and two car garage in great condition. Amazing tranquil location near Lane Tech and DePaul Prep high schools. 

Many parks and river walk paths are located just steps from 4146 N Campbell in the North Center neighborhood of Chicago.

Very special neighborhood just east of Horner Park and north of Revere Park... boarding the North Branch River and river walking paths. Easy access to grocery stores, Roscoe Village restaurants, services. Steps from Rockwell businesses (Burning Bush Brewery, veterinarian, dog boarding) and close to Bradley business center (Gold Fish, Climb Zone, Bradley Fieldhouse, Windy City Ninjas, IK Gymnastics and more!). Move-in and add value, rent both units or develop into single family home in one of Chicago's best neighborhoods!

Pre-MLS! Ravenswood Manor bungalow, four beds, awesome finished basement with wet bar

 

4445 N Sacramento is an attractive bungalow in Ravenswood Manor (all photos Eric Rojas, Broker, Kale Realty. Use only with permission.)

Coming soon! FOR SALE, Pre-MLS single family home in the Ravenswood Manor neighborhood. This great looking four bedrooms brick bungalow (three main level, one basement) with finished basement, two full baths, two car garage and many updates hits the market this week! Waters Elementary School district.

-Tons of space on main level, finished basement (and unfinished utility area) and huge unfinished attic with staircase

-Three good sized main floor bedrooms

-Two good sized and updated bathrooms

-Perma-Seal, sump pump and drain tile
-New garage roof (2 car garage)
-New water heater
-Cosmetic updates and painting
-New basement flooring and wet bar

-Waters School District

-Back yard and patio

-Move-in quality home!

Floor-plan

Beautiful foyer with coat closet

Huge living room with tons of windows and light

Large dining room great for gatherings

Older but efficient and functional kitchen.

Wow! huge finished basement with bedroom and bonus room (office, bedroom, play room)

Sharp and super cool wet bar!

Beautiful block and neighborhood!

More off-market properties at my Facebook site

4445 N Sacramento, Chicago IL 60625 asking $649,900!

Exclusive listing:

Contact Eric Rojas, Broker, Kale Realty

2447 N Ashland, Chicago IL 60614

erojas@kalerealty.com

Coming soon! Old Town two bedrooms, two baths condo with attached garage parking

 

227 W Scott in Old Town. This well kept boutique building has only 12 units, elevator and garage parking! All photos Eric Rojas, Broker, Kale Realty.  

PRE-MLS! Our new listing at 227 W Scott, Unit 2W, Chicago IL 60610 will be hitting the market in a few weeks around $409,900. This two bedrooms, two baths condo is on the third story, has three walk-out balconies, in-unit washer / dryer, fireplace and concrete between floors. We met with our contractor this morning in the fantastic Old Town location to begin listing preparation. We're excited to get this home in tip-top shape for showings! 

The 1999 built boutique elevator building features only 12 units, assigned garage parking, exterior storage unit and sits on a unique, quiet cul-du-sac street in the middle of Old Town action!

Old Town Condo Sales January 1st to August 12th, 2022

Restaurants, cafes, rooftops, amenities, groceries and transportation all at your fingertips in Old Town

Greater Old Town features a diverse condo market including high-rise units, town homes, vintage walk-ups and luxury new construction buildings. About 461 Old Town condos (attached units. town homes) closed from January 1st to August 12th of this year.  The median price of a sold condo is about $425,000. 

Unit sales are up about 50% over same period 2019 (pre-pandemic) where only 305 condos sold. 2022 median price is up about 10% over 2019 median price of $387,000.

About 150 two beds, two baths condos sold in Old Town over the same period with a median price of $459,000. 

The highest sale price in Old Town this year is 1550 N Clark Unit 803 for $2,600,000. Fifteen Fifty On The Park is the newest Old Town luxury building completed in 2020-2021. 

227 West Scott, Unit 2W, Chicago IL 60610 is exclusively listed by:

Eric Rojas, Broker, Kale Realty

2447 N Ashland, Chicago IL 60614

312-939-5253

erojas@kalerealty.com

For more content and sneak peeks at Pre-MLS listings go to my Facebook Page 

City of Chicago sees slowing real estate activity in June 2022, prices still up

Chicago Association of Realtors City of Chicago numbers show the slowing real estate action in June 2022 (year over year).  New listings, existing listings, closings were down.  Median prices were up slightly and market times were down. 

The grip of rising mortgage interest rates may have slowed purchase activity and closings year over year. However this has been little relief to Chicago buyers facing high home prices and stiff buyer competition.  

Anecdotally speaking it remains difficult to secure single family homes for our buyers without a a multiple offer bidding war. New listings may be up about 6% this June compared to last but June/ July trickle of expensive listings is still frustrating for buyers.

Wilmette single family home sales - High end market takes off

 

Our clients are looking to move from Chicago to Wilmette for a larger yard. All photos Eric Rojas, Broker, Kale Realty.  

We've been hot on the trail of Wilmette single family homes priced in the $900,000 to $1.2M range this year. Despite acting quickly and aggressively each purchase offer we've made has resulted in a multiple offer situation. We suffered a loss just last weekend. Rising interest rates have not seemed to affect demand in this price-point...yet. 

Let's take a look at recent Wilmette single family home sales. 

Wilmette Single Family Home Sales January 1st to June 25th (year over year)

$2,000,000 is a mere drop in the bucket for Wilmette lakefront homes. All photos Eric Rojas, Broker, Kale Realty.

162 single family homes have sold in Wilmette from January 1st to June 25th of 2022.  The median price of a sold home is $900,000. Thirteen homes sold for over $2M. That's only two less than the past five years combined (same period year over year).

The highest priced sold home sold this year is 1330 Chestnut Avenue, Wilmette IL 60091 for $4,950,000.
The lowest priced sold home this year is 535 Leclaire Avenue, Wilmette IL 60091 for $292,600.

How do the 2022 first-half sales stack up against the pre-pandemic market? 

In 2017, 195 homes sold with a median price of  $710,000. One home sold over $2M.

In 2018, 209 homes sold with a median price of about $815,000.  Seven homes sold over $2M.
In 2019, 186 homes sold with a median price of $619,000. Interestingly no homes sold over $2M

The pandemic hit in the middle of spring market 2020. 

Over January 1st to June 25th of 2020 only 140 homes sold with a median price of $720,000.  Three homes sold over $2M. Over the same period of 2021... when the real estate sales phenomenon really hit...  a robust 227 homes sold with a median price of  about $865,000. Four homes sold over $2M.