Sunday, May 30, 2010

Southport Corridor Jewel progress... but how are Southport Avenue sales?

A new, "greener" Jewel goes up at the corner of Southport and Waveland.

Many residents of the Southport Corridor have been waiting for some time for the new construction Jewel Food store to be completed. This store will replace a smaller existing Jewel that was raised for this project. The neighborhood is one of the more desired and pricey in the city due to many restaurants, boutiques, schools and shopping. Although single family homes can reach up to $3,00,000, there are affordable condos as well.

With recent home sales at 4110 N Southport for $262,000 (just two blocks north of the Corridor) and 3616 N Janssen for $552,500 right in the heart of the neighborhood and in the Blaine Elementary attendance boundaries, I thought we'd take a look at home sales on North Southport Avenue itself near the new Jewel store. North Southport Avenue is a mecca for shopping and nightlife. It's a terrific stretch of the city to live.

The median price of a closed or under contract attached home (condo) on Southport from 3200 North to 3900 North Southport was a whopping $624,000! Several of these condo homes are new construction and enormous. The lower end condos that sold in the last 6 months we're two bedrooms, two bathrooms homes with garage parking and decks for $425K and $435K.

Only one single family home closed on this stretch of Southport over the last 6 months. It was a frame four bedrooms, three baths home on a standard city lot for $780,000. Not a bad price for this neighborhood. There are not many single family homes remaining on the commercial strip of Southport.

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