Eric Rojas, Chicago Real Estate Broker

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Tuesday, August 20, 2013

Lincoln Square single family homes for sale and under contract

We are very active brokers and residents of Lincoln Square. Many people ask us for information about houses and if "we have clients that will be listing their house soon".  Home buyers are trying to get any edge they can. This is the type of value we add to our clients' home search in addition to home owning advice and service referrals on an ongoing basis.

Lincoln Square inventory is tight.  However, there seemed to be a little jump in listed homes for sale in the Lincoln Square area over the past 30 days.  Most of these new listings are in the $600,000 - $1,000,000 range.  When we checked in mid- July there were 20 active home listings in Lincoln Square. 

Current new construction on North Leavitt near West Windsor in Lincoln Square
Active Homes for sale

Today, there are only 19 homes listed for sale in the MLS. Several of the newest listings were snapped up in a weeks time keeping the number low. The prices of active homes for sale range from about $230,000 for a dated house on the 2600 block of West Foster Ave to $1,700,000 for proposed new construction on a 37' x 125' lot in a prime West Sunnyside Ave location. 

The locations and prices vary greatly and are spread out from the more central district at 4400 West Montrose on the southern border to the 5500 North block at the northern border.  The area between West Montrose and West Lawrence Avenues and North Damen and North Western Avenues is generally the priciest in Lincoln Square.
This central retail and transportation district of Lincoln Square is the priciest.  Land for a standard lot (tear down property) can start at $450,000.  Push north of West Foster Avenue in pleasant Bowmanville and land is about $250,000 for a standard lot this year.
Under contract in the last 30 days (July 19th to August 19th)

An impressive 16 Lincoln Square homes have gone under contract from July 19th to August 19th in our MLS.  This is often a seasonably slower time for contracts due to summer vacations.  The median asking price of homes under contract is just over $630,000. 7 of these homes are listed at $800,000 or more.

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