|They all can't be as pretty as this corner multi-unit at West Wilson and West Hamilton in Lincoln Square. Photo Eric Rojas, Broker|
Two-flat Sales 2012
46 properties listed as two-flats in the MLS sold (closed) in 2012. The median price was about $385,000. Unit sales were up 58% over the 29 properties sold in 2011 and median price was up a little over last year.
The highest priced sale was 4827 N Claremont at $578,000, a fully renovated two-flat with duplex-up and duplex-down units. The location is very close to the Western Brown Line stop and the best of Lincoln Square retail. The lowest sale was 5151 N Western Ave for $160,000. The frame two flat sits on the busy four lane stretch and needed a lot of work. Mot residential street two-flats sold in the $300,000 to $450,000 range.
Three-flat Sales 2012
Only 7 buildings listed as three-flats in the MLS sold in 2012. The median was a solid $375,000 so there were some bargains out there. Three-flat sales were down 41% in this segment. 12 three-flat properties sold in 2011 with a much higher median price about $472,500.
The highest sale in 2012 was 4855 N Rockwell for $560,000. The brick property is located a couple blocks from the popular Rockwell Crossing district and Brown Line. The sellers bought in 1997 for $150,000 when things were a little bit rougher in the location. Raised rents all those years and sold for almost 4 times...well done! The lowest sale was a foreclosure closed for $285,000 at 4829 N Hoyne. The building is already fully renovated and converted to a single family home... and is now under contract with an asking price of $949,000. Wow!
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