|New construction in East Lincoln Park found plenty of buyers this year (Photo, Eric Rojas at North Lincoln Ave, Wisconsin Street and North Lincoln Park West)|
182 homes have closed from January 1st to December 26th 2012 in Lincoln Park. Only three homes sold for under $500,000 (two were row houses and another a frame home on a small lot of Old Town Triangle). The median price is about was about $1,250,000.
Unit sales are up 29% over the same period of 2011 (141 units sold). The median price over the same period in 2011 was also $1,250,000.
The good, the bad and the ugly
The highest closing this year was 1956 N Orchard for $5,300,000...a double lot (50'x124') 7 bedrooms, 6.5 baths 2001 build. 4 homes sold for over $4 million and 5 homes sold for over $3 million.
The lowest sale was 319 W Concord Place for $412,000. The small frame home in Old Town Triangle sat on a 24'x98' and did have two outdoor parking spots on the property (included parking can be a rarity in the Triangle especially at this price). Seems like a pretty good deal even if a tear down. The only minus being that it backed-up to a parking lot for a mid-rise building... but for this east Lincoln Park location, that's no big deal.
Only 11 of the 182 recorded sales were distressed properties (either short sale or REO, bank owned).