|Two-flat in Southport Corridor: Photo, Eric Rojas Realtor / Broker|
Lake View Community Area Two-flat Sales
38 two-flat buildings closed so far in 2011 with a median price of about $490,000. Unit sales are up 46% from the same period of 2010. The 2011 median price was lower by $75,000 than the $565,000 in 2010.
The highs: By far the highest closing was $1,325,000 at 1445 W Addison 60613. This was a grey stone on a 62 feet wide, 134 feet deep lot in Southport Corridor. The second highest was $800,000 for a frame rehab on a standard lot (25' x 125')
The lows: $225,000, a foreclosure at 3942 N Hermitage Ave 60613 on a small 25' x 90' lot.
Distressed: 8 of the 38 two-flats sold by December 15th, 2011 were either short sales or foreclosures (21% of sales).
Over-all, the Lake View Community Area has seen 76 multi-unit buildings (2-4 total units) close from January 1st to December 15th. This is also up 46% over last year. Currently, there are 14 more multi-unit buildings under contract.