Eric Rojas, Chicago Real Estate Broker

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Monday, November 28, 2011

Lincoln Park multi-unit building sales in 2011 (two, three and four flats)

 It's been a very tight and competitive market for Lincoln Park multi-unit buildings this year so far.
Vintage multi-units along North Halsted in Lincoln Park


Where have all the two flats gone? Only 7 two-unit buildings have been sold in Lincoln Park this year from January 1st to November 1st, down -46% from 13 sold last year same period. 


The median price was only $300,000, down $100,000 from 2010... which suggests that most buildings were in bad shape, not choice locations or small lots for Lincoln Park. The number of unit sales is a little lower than expected considering all the renovations and new construction build going on.



17 three-flat buildings sold this year from January 1st to November 1st, up +54%.  The median price was about $600,000.  In 2010 same period, 11 three-flat buildings sold with a budget busting median of about $960,000.


Multi-units in East Lincoln Park



Only 2 four-unit buildings were sold thus far in 2011.  They varied greatly with one building being all one bedrooms for $557,000, and another having one, two and three bedrooms units for $1.1 million. 10 four-unit buildings sold in the same period in 2010 with a median of $1 million.


All building sales counted were structures on single lots (of various sizes).  All statistics gathered from MREDLLC.com and analysis by Eric Rojas, Real Estate Broker. All photos Eric Rojas and Bob DePalma, Real Estate Brokers.

More of our Lincoln Park information, property tours and market statistics HERE

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