Friday, August 12, 2011

Another new Ravenswood "gut rehab" home is for sale

4932 N Oakley in the Ravenswood neighborhood was sold in May of this year for $230,000 according to the MLS. I track most house in the neighborhood and this was a great deal. The home was vacant and well under the median price for single family homes in this location. The house was in terrible condition and needed a complete gut rehab or to be torn down to build new.

I recently saw a new sign go up offering the house as a totally renovated home for sale. Work has begun on the complete gut rehab. There is no MLS listing for the home at this time, but it could be a great opportunity to get a completely new house on a fantastic block. The house is only a few blocks from the heart of Lincoln Square.

Check out my past posts on Lincoln Square and Ravenswood pointing out the rehab trend picking up since 2010.

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