Wednesday, November 14, 2012

Home sales, photos in Peterson Woods neighborhood of Chicago

Where is Peterson Woods?  North of Budlong Woods of course.
A charming corner home on North Virginia and West Hollywood in Peterson Woods with Legion Park in the background
Peterson Woods is an enclave in the West Ridge Community Area on the North Side.  The area is bounded by the large Legion Park on the west that runs along the North Branch of the Chicago River. North California is on the east, Bryn Mawr on the south and West Peterson on the north.  The neighborhood basically angles along the convenient 5600- 6000 blocks North Lincoln Avenue and offers many basic retail needs.
Area map of Peterson Woods created on
The single family homes are unique and pricing diverse. Homes on the "park-side" are in demand and sell at a premium. You can also purchase a smaller brick house for around $200,000 that needs substantial work. It's a pretty area of custom built Tutors, octagon bungalows, "Prairie Style" flat roof homes, ranches, Georgians, brick cottages and classic brick front and side entrance historic Chicago bungalows.
A gorgeous corner brick cottage at West Hollywood and North Sacramento
Peterson Park single family home sales over the last 2 years

There have been 15 closed (sold) homes in the Peterson Woods enclave over the past 24 months. The median price is about $330,000 for that time period.  The highest sale over the past 24 months was 5736 N Sacramento, a 60ft wide lot property in need of updates for $650,000.

Only 5 of those homes sold over the last 12 months with a median price of $265,000 for the smaller sample.  All 5 of the homes sold over the last 12 months were closed under $400K.

A median priced home in the $330,000 range will typically get you a three bedrooms brick bungalow or Georgian on a standard or wider lot that has updates... but needs some work.  Because the homes are very diverse and mostly custom built $330,000 can purchase a solid move-in house on the smaller side or one needing complete renovation. All stats gathered from and interpreted by Eric Rojas, Real Estate Broker
Peterson Woods home; Photo Eric Rojas, Real Estate Broker
Peterson Woods homes; Photo Eric Rojas, Real Estate Broker
Peterson Woods homes; Photo Eric Rojas, Real Estate Broker
You can imagine the "fairy tale" like quality of the wooded landscape and ornate architecture. This area is served by Jamieson Elementary and many nearby parochial and private schools.  If you are looking on the North Side for a house and do not depend much on public transportation (besides the Lincoln bus), Peterson Woods may be a good fit.  The blocks are really wonderful and it's close to many amenities of Lincoln Square just south and the North Shore as well.

More Chicago market statistics here!