Wednesday, October 23, 2013

Only one River North single family house closed this year

We've had some clients in River North this year for condos and town houses.  When looking at a town house nearby the Huron and Superior mansions I was asked, "How many houses sell down here".  Not many.

River North is a tony address for the rare single family home owner.  The location is steps from popular dining, top services, art galleries and downtown offices.

River North single family home sales are rare...few true single family homes exist and those that do look like this house at West Huron and North Hudson (Photo Eric Rojas, Real Estate Broker)

 River North Single Family Home Sales Jan 1st to Oct 18th, 2013
According to our MLS ( only one River North single family house has closed this year.  433 W Superior closed as a short sale for $1,600,000. This was a NICE deal for a 2007 build in this location.  I did not see this house so it is uncertain what type of condition it was in. 

For the price it is assumed there was some type of damage but who knows?  The house was listed and went under contract in 2 days (according to the MLS listing) within the same small brokerage house.  It took 10 months to close even though it was an all cash deal. 

The house was purchased by a long time Chicago developer.  433 W Superior was then re-listed for sale in August for $2,750,000.

River North Single Family Homes for Sale, Under Contract

Only two homes are actively for sale and both on the same block of West Superior.  The aforementioned 433 W Superior is listed at $2,750,000 and 469 W Superior is listed at $4,950,000.  Three homes are under contract in the same two block radius with asking prices from $2,000,000 to $3,995,000. 

You are HERE!


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