With another new home sale listing in Wicker Park neighbohood this week we've been looking at the market in the West Town designated community Area of Chicago quite a bit. Wicker Park is a sub-neighborhood of the West Town area.
One statistic that has jumped out at us is the shear number of condo unit transactions in West Town and the neighborhood of Wicker Park. In terms of the popular criteria of two-three beds, two-three baths condo with parking, West Town is on pace with the large and condo crazy Lake View community area.
Two-three beds, two-three baths condos with outdoor or garage parking:
Lake View has 482 units closed or under contract in the last six months. The lowest sale was $150K and the highest $765K.
has 456 units closed or under contract in the last six months. The lowest sale $40K and the highest (currently under contract) $799K. The Wicker Park neighborhood itself had about 100 unit transactions in the last six months.
It's pretty amazing that West Town has kept up when you consider that Lake View boasts lakefront real estate, has been long gentrified and popular and is the second most populated of the 77 Chicago community areas (2000 Census Data). However, the nightlife, art scene and proximity to downtown by mass transit have made West Town... hot.