Eric Rojas, Chicago Real Estate Broker

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Monday, July 08, 2013

Two new gut rehabs in northern Ravenswood of Lincoln Square

I took a few shots of two new gut rehabs in progress on the 5100 blocks of North Oakley and North Claremont of the Ravenswood neighborhood in northern Lincoln Square.
5154 N Oakley gets new front window framing (photos Eric Rojas)
5154 N Oakley shown above was a foreclosure sale in March of this year for $281,200 cash (the listing price was $259,000).  The two-flat is getting a complete gut renovation.  A developer sign is up, but no listing on the MLS. The median price of a closed or under contract single family house for the last 12 months in this immediate area (West Lawrence to West Foster, North Ravenswood to North Western Avenue) is about $695,000.

Houses on the 5100 block of North Oakley

This frame two-flat on the 5148 North Claremont is quietly undergoing gut renovation.  There is no recent

The location between West Lawrence and West Foster and North Ravenswood and North Western has been a popular place for development and new construction.  We've talked about how land, re-sales and new construction have seen increased pricing over the last couple years. The single family home market has been very dynamic in this part of Lincoln Square.  An increased variety of single homes (from mid-range rehabs to higher-end new construction) have been sold in the last 12 months.

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