Tuesday, July 03, 2012

Lincoln Park singe family home sales up 25% for the year, prices stable

Row homes on North Lincoln Avenue near Wells in Lincoln Park, photo Eric Rojas

52 Lincoln Park single family homes closed in the first half of 2012 (January 1st to May 31st), up about 20% over the same period of 2011.  The median price over the first 6 months of the year was $1.3 million (including fee-simple row homes).

81 total single family homes have sold for the year to date (January 1st to July 3rd 2012)... a very active June for closings. That is up about 25% to date over same period 2011.  The median price is around $1.2 million and about the same as last year.

The Highs
1956 N Orchard, a double lot (50x124) home built in 2001 sold for $5.3 million in June.  The home has a sizable yard and sizable property tax bill of 80,000 a year. The next highest sale was $4.5 million at 1701 N Dayton, a new construction "8000 sq/ft" home.

The Lows
The lowest sale this year (but a positive one) for a Lincoln Park home is 339 West Concord Place closed at  $412,000 - a small house in Old Town Triangle on a 24 x 98 lot.  This sold quickly and was a nice deal (not a short sale or foreclosure) for such a coveted and high status location. The Chicago Landmark District home needed extensive renovation. I have not been back by it to see if work was started or completed.

The second lowest sale was 954 W Dickens at $470,000, a row house (with no parking spot) also in need of full renovation and another great deal.  The prices than jump up to $625K for a small new construction house at 1738 N Bissel... backing up to the CTA tracks.

Of 81 closed single family homes, only 4 sales were recorded as short sales and none recorded as foreclosure sales on our MLS (short sales and foreclosures must be designated as such).

More Lincoln Park HERE