Monday, January 16, 2012

Lakewood Balmoral single family home sales

The Lakewood Balmoral neighborhood in the Edgewater Community Area of Chicago is on the National Register of Historic Places.  The "sub neighborhood" is bounded by Magnolia Avenue to the east, Wayne Avenue to the west, Foster Avenue to the south, and Bryn Mawr Avenue to the north.

Eight (8) single family homes were sold in Lakewood Balmoral in 2011 with a median price of about $750,000. 9 homes sold in 2010 with a median price of about $815,000.

The Highs: The highest MLS recorded sale price was 5511 N Lakewood- a 37 wide lot "complete gut renovation" house sold for $1,530,000 in the spring.  The original home was sold for $750,000 before developer renovation and sale.
The Lows: The lowest MLS recorded sale price was 5219 N Magnolia at $585,000 for a nice little move-in ready home with some mechanical updates.  It sits on a 37 wide lot, so their is plenty of room in the budget for major renovations if the owner should choose. It sold quickly in the beginning of the year and work may have been done since then. $585,000 for the lowest priced sale all year speak volumes for this location.
Distressed:  There were no recorded distressed sales for the small neighborhood in 2011.

We never get tired of viewing these homes no matter the season. With the popular Andersonville retail strip to the west and the lakefront to the east, Lakewood Balmoral is a quiet, small and distinct community in between the bustle. Not many home become available each is imperative to be educated on the market and ready to act.

All photos Eric Rojas, Realtor and Broker.  All sales data pulled from (our MLS) and analyzed by Eric Rojas.

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