Friday, February 18, 2011

The $500,000 Lincoln Square house

This "vanilla box" rehab offers 4 bedrooms, three baths, garage, deck and yard, cenral air and laundry room for $499,000 in a nice location of Lincoln Square. Finishes are cheap, but it's a nice clean, big house.

Last weekend after "The Storm" I was out showing Lincoln Square single family homes in the $500,000 range... give or take $50K. We focused on east of Western Avenue with a reasonable ability to get to the Ravenswood Metra or Brown Line when needed. My clients can drive to work now, but may need the Metra in a couple years.

This is no small task at $500,000 depending on the buyer's expectations. You can find a pretty nice, newly remodeled house in the Bowmanville section of Lincoln Square just north of Foster Avenue for $500,000(ish). That would afford three true bedrooms, two or more nice baths and finished basement living space. South of Foster Avenue and closer to transit gets a little tougher in the Ravenswood neighborhood of Lincoln Square and will take sacrifices in material finish level and size of the home. However, there are still solid opportunities at this price-point south of Foster Avenue for $500,000. Several homes sold last fall under $500,000 that were very nice but on the small side or needed a savvy sense for home improvement.

That said, if you can spend up to $500,000 on your home purchase you should be looking for a house or two-flat with me now in the Lincoln Square area. We will see the best variety of properties in the next few months hitting the market and it's a great area to live!

Perhaps the Bowmanville neighborhood of Lincoln Square?

Read more Lincoln Square posts here!

1 comment:

Grace said...

Eric, just want to let you know (again) how much I like your blog. As a fellow Ravenswood / Lincoln Square neighbor, I especially enjoy your posts about the 'hood. But really all your posts are interesting and informative. Keep up the good work.