Monday, February 09, 2009

Would You Buy a House in Bowmanville?

The house pictured is at 1908 W Farragut and is listed at $885,000. The listing says "fenced yard", but alas... no yard. There is a deck off the family room and a garage roof deck. No yard is a deal killer for me. Beautiful house, tricked out with a terrific layout; a winner if you don't need the yard work.

I enjoy finding single family home values in my immediate area for clients and myself. This weekend, I took a look at a few of the many Sunday Open Houses in Bowmanville. I've only been in my current Ravenswood duplex for a couple years, but with the way things are shaping up for all buyers- and with a second kid on the way-I might jump in on a single family home sooner than expected.

Bowmanville, a North Side Chicago neighborhood, is much overlooked by city couples looking for a long term single family home. Ever hear of it? How about Andersonville, Ravenswood and Lincoln Square? Got you attention now? Bowmanville is adjacent to these three popular neighborhoods but priced at least 10%-20% lower for comparable homes.

Single family home sales in Bowmanville (roughly bordered by West Foster Ave to Rose Hill Cemetery and North Ashland Avenue to North Western Avenue) have remained strong. The area usually sells it's homes close to list price and under average market times for Chicago.

This area offers move-in quality single family homes on standard Chicago lots from about $450,000 to about $1,000,000. A look at the current market shows 8 active homes for sale and 3 under contract this early spring season. With a good contractor or Do-It-Yourself skills, a solid home can be purchased for even less. The lowest priced "move in" home is $499K (on a 30X125 over sized lot) and the the highest priced is $950,000. 3 homes are already under contract this early spring season.

Read more about Bowmanville by clicking the link.

There are a serious amount of amenities within walking distance: The huge and activity filled Winnemac Park, West Andersonville and Andersonville eateries and shops, Lincoln Square retail and restaurants and easy access to two major grocery stores.

A five minute drive or bike ride will drop you at the Ravenswood Metra station or the Damen Brown Line stop.

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