Monday, July 16, 2012

Rare new construction in Ravenswood "bungalow belt"

The small frame home at 2251 W Winnemac was purchased for $250,000 in May of this year and quickly torn down to begin new construction.  The lot is wide at 30 feet, but a bit shorter at 100 feet long.
The "bungalow blocks" west of Winnemac Park rarely see tear-downs.

 The three blocks of  2200 West Winnemac, 2200 West Carmen and 2200 West Winona (just west of Winnemac Park) have barley been touched by tear down new construction.  My crack research suggests out of the approximately 72 single family homes and two-flats that line the three blocks, there has been only one (1) new construction home!  That was a torn down bungalow in 2008 on the 2200 block of West Winona, a few doors from Winnemac Park.  That new house sold for $980,000 and resold for $910,000 in 2010.
This is not to say that these blocks are littered with old, dilapidated homes. They are actually neat and tree lined streets with mostly original 1920s large brick bungalows.  Many have been renovated and expanded while keeping the architecture of the blocks in tact. There are a handful of brick two flats and fewer frame homes.  Some of the frame homes could use a "do-over" and are the more likely candidates for tear down and new construction homes in the near future.

We've been writing about the greater frequency of new construction in Lincoln Square.  We also noted the higher-end sales dotting the area of Winnemac Park just north of Lawrence Avenue.  While there were two new construction homes built and sold a $1 million in the last year on the 4900 block of North Hamilton, the "east-west" streets see much less of this tear down activity.  The "north-south" streets in the area adjacent to the park have seen much more new construction over the last decade.

More Ravenswood posts HERE