Monday, November 26, 2012

Old Town Triangle area home sales 2012

We've been in Old Town Triangle of Lincoln Park over the past couple weeks preparing a client's home for sale.  Let's take a look at single family home and condo sales in 2012 for this most desirable of Chicago locations.  You can read about the historic area boundaries as written below and many more Old Town Triangle area posts at Yo Chicago

The Old Town Triangle is part of the Lincoln Park neighborhood along Chicago's north lakefront.
It's bounded by North Ave (1600 N), Armitage Ave (2000 N), Lincoln Park and a line drawn from the intersection of Lincoln Ave and Armitage Ave south to Larrabee St (600 W). The line which is the western boundary of the Old Town Triangle generally corresponds to the right-of-way of what was formerly Ogden Avenue.
ZIP code: 60614

The roughly 2 square block radius in East Lincoln Park surrounding Old Town Triangle...a fantastic location in Chicago

We'll use a square shape above to cover the neighborhood between  the major streets of West Armitage to West North Avenue and North Clark to North Larrabee to get a better look at sales and the types of properties available in - and adjacent to - the Old Town Triangle Historic District.

The row houses on the 1800 block of North Lincoln present the opportunity for a great door!

 Single family home and row home sales in 2012 (JAN 1st to NOV 19th

There have been 19 closed single family homes and row homes in the greater Old Town Triangle area so far this year.  The median price was about $1.2 million. This may seem a little low for this location compared to Lincoln Park's median single family home price this year of about $1.3M.  However, the homes in the actual historic district of East Lincoln Park are much smaller on average and often feature less luxury amenity in the historic homes in exchange for the privileged location.

The highest single family home (totally detached) sale this year is $3,133,365 at 1839 N Cleveland.  This was a re-sale of a 2000 built 6 bedrooms home on a 24x125 Chicago lot.  The highest row house sale so far is 1910 N Clark for $1.975 million.  This wider than usual 4 bedrooms row house at 23 feet wide features a rear addition with attached garage and elevator.

Condos (and town houses with condo association)

There are many ways to experience the East Lincoln Park, Old Town Triangle lifestyle.  132 attached condos and town houses closed from January 1st to November 19th this year.  This is a large number of units for this relatively small area and up from the 94 units sold same time last year  This also includes a few high rise buildings along North Clark Street and a small portion of North LaSalle which increase the density of available condos.

Condo Prices
 The highest sale for an attached unit this year was 1813 N Mohawk Unit A for $1,230,000.  The 3000 sq/ft, 4 bedrooms end-unit town house sold within a week after going on the market.   The lowest condo sale in our boundaries so far was a mere $105,000 at 1850 N Clark # 2406 (Hemingway House).  The high floor studio has great city views.  I've gone to a couple terrific events at the Hemingway House party room and sun deck...great views and A+ location to impress friends and associates.

24 condos sold for $200,000 or under.  All but three were in high rise buildings and the assessments that go with them.  The other three were small one-bedroom vintage conversions. The median price for all attached unit sales (132) in the is area is $320,000 this year.  94 units sold with a median price of $395,000 same time last year in 2011.
Row house or high rise... there are many budget options providing the Old Town Triangle lifestyle is a very thorough source for unique Chicago neighborhood information...just one of the many reasons I work with them for our property and neighborhood videos.