|910 W Fullerton in Lincoln Park has been torn down to make way for (likely) new construction condos (photos Bob DePalma, Kale Realty)|
910 W Fullerton in the DePaul area of Lincoln Park was sold and closed on October 22nd of this year. The "before print" deal was recorded on MREDLLC.com as closed $925,000 cash by a single broker associated with new construction development. The listing states the property is zoned RM-5 and the lot size is 25x150. The zoning and sale price suggest this will most likely be developed as a new four unit condo building.
|This Google map image shows the original property in the middle. There is a 4 unit condo building directly to the west.|
The new construction market has been very strong this year. Over the past two years we've seen the return of smaller "infill" new construction multi-unit condo buildings by force in Lakeview and Lincoln Park (and even several projects in Lincoln Square and Andersonville further north).
|The new construction will be adjacent to a classic at 908 W Fullerton and across the street from the Landmark McCormick Row Houses we just mentioned in another post|
A three bedrooms, two and one-half baths condo next door at 912 W Fullerton #3 closed in June for $495,000. That is a 1997 build. New construction typically gets a huge premium over older re-sales due to tripped out finishes. A new construction duplex down here on a 150 lot like this could conceivably ask $1 million (Fullerton Ave being a bit of an X factor).