|New construction on the 3542 North Greenview... directly behind our latest listing at 3543 N Bosworth Unit C. The original property here was sold in 2011 for $775,000. Size matters!
New construction houses are in high demand in popular neighborhoods like Lakeview's Southport Corridor. If an existing property is torn down then almost exclusively a large, luxury house will be built. It's fascinating that we never see a smaller home built keeping more of the lot for a yard. Economically, the numbers would not work for a builder/ developer as demand is for more square footage.
Gut rehabs and renovations remain the option for keeping more modest houses around.