63 multi-unit buildings (2 to 4 units) sold in the North Center Community Area in 2011, only two more than in 2010. The median price was about even with 2010... about $450,000.
Here's a quick interior look at a North Center two flat sold at the beginning of this month. The property sits on a 37' wide lot...WHITE HOT for development and renovation in the Bell School district.
The Highs: 1830 W Addison sold for $734,500. This was a newer construction "investor owned" building with a very nice three level top unit and one separate basement unit.
The Lows: 2815 N Clybourn closed for $131,250 at foreclosure auction. The building is a squat two-flat on industrial Clybourn but will be a nice cash flow investment after repairs.
Distressed: Multi-units tend to have a higher percentage of short sale and foreclosure sales due to the investor driven "run up" prior to the financial crash of 2008. In North Center, at least 21% of multi-unit sales were either short sale or foreclosure.
View more North Center information and video HERE
All data gathered and analyzed by Eric Rojas Realtor and Broker from MREDLLC.com, all video and photos Eric Rojas. Commentary is experiential and anecdotal. Questions? Email ericrojas2@gmail.com
Here's a quick interior look at a North Center two flat sold at the beginning of this month. The property sits on a 37' wide lot...WHITE HOT for development and renovation in the Bell School district.
The Highs: 1830 W Addison sold for $734,500. This was a newer construction "investor owned" building with a very nice three level top unit and one separate basement unit.
The Lows: 2815 N Clybourn closed for $131,250 at foreclosure auction. The building is a squat two-flat on industrial Clybourn but will be a nice cash flow investment after repairs.
Distressed: Multi-units tend to have a higher percentage of short sale and foreclosure sales due to the investor driven "run up" prior to the financial crash of 2008. In North Center, at least 21% of multi-unit sales were either short sale or foreclosure.
View more North Center information and video HERE
All data gathered and analyzed by Eric Rojas Realtor and Broker from MREDLLC.com, all video and photos Eric Rojas. Commentary is experiential and anecdotal. Questions? Email ericrojas2@gmail.com
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