Eric Rojas, Chicago Real Estate Broker

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Tuesday, October 15, 2013

Do you live around Winnemac Park? Lincoln Square, Ravenswood, Bowmanville homes sales update

Many of our clients buy and sell homes in the Lincoln Square/ Ravenswood/ Bowmanville area around Winnemac Park.  The heaviest local users of Winnemac Park probably live in the boundaries of West Lawrence Ave on the south, West Bryn Mawr Ave on the north, North Ashland Ave on the east and North Western Avenue on the west. 

As a home owner in the area I feel this geographic plot definitely forms a common community going to the same schools, churches, grocery stores, CTA stations, Metra etc... and it's easy walking distance to the very popular Winnemac Park.  I include Bowmanville north of Foster Ave as they are heavier park users than say residents south of Lawrence that may tend to use Welles Park.

Parts of the Lincoln Square, Uptown and Edgewater Community Areas meet close to Winnemac Park.  The major streets of Ashland, Lawrence and Western along with Rosehill Cemetery on the north form a distinct area surrounding Winnemac Park.
This is a desirable area that has seen real estate prices for condos, houses and land go up over the past couple years.  It's an area that really cranked up new residential, commercial and infrastructure development.  Here's a look at some real estate sales numbers.

Single Family Home Sales Jan 1st to October 11th, 2013

50 houses have closed this year in the mapped area above with a median price of almost $650,000 (up about $165,000 from 2012). Seven of those homes sold over one million dollars. 36 of the 50 homes sold over $500,000.  This is ten more houses than sold same period last year.  The median in 2012 was about $485,000.

The highest sale in these boundaries is 1650 W Winona.  The wide 37.5 lot new construction home closed for $1.5 million.

Whole lotta new houses and gut rehabs this year around Winnemac park.


Condo Unit Sales (attached, town house) Jan 1st to October 11th, 2013

130 condo units sold with a median price of $257,000.  36 of those condos had two bedrooms and two baths with a median price of $295,000.  28 of the attached homes had at least three bedrooms and at least two baths and a median price of about $395,000.

In 2012, 123 condo units sold over the same period with a median price of $218,000.  23 of those were two bedrooms, two baths condos with a median price of $270,000. 

40 of those sold  over the same period last year had at least three bedrooms and at least two baths with a median price of about $368,500.  There were more three bedrooms or more units sold last year but prices were lower.  This suggests some distressed properties were still being cleared out last year while more expensive and nicer conventional sale homes went on the market this year.

Two-four flat multi-unit sales

24 "mult-unit" properties with 2 to 4 units sold over the same period with a median price of about $410,000.  14 of those units were two-flats with a median price of about $350,000.  Nine of the units were listed as three-flats with a median price of about $450,000.  One building was listed as a four-flat and sold for $460,000.

The highest multi-unit sale recorded in the boundaries this year is 5052 N Wolcott.  The two-unit building sold for $649,000.

24 multi-unit properties with 2 to 4 units also sold same period in 2012.  The median price was lower at $360,000.


Statistics are gathered from recorded sales in MREDLLC.com and analyzed, sliced and diced by Eric Rojas, Real Estate Broker at Kale Realty.

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