Eric Rojas, Chicago Real Estate Broker

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Friday, December 06, 2013

Condo unit sales near East Lakeview's new Walgreens, Walmart, Trader Joe's way UP: Who could ask for more?


We snapped this photo yesterday of the new flagship Walgreens getting finishing touches.  The popular East Lakeview/ Lincoln Park location around Diversey, Clark and Broadway has seen an upward trend in retail and condo sales over the last three years.
The intersection of Diversey, Clark and Broadway will get it's latest big retail boost soon.  The new Lakeview, Lincoln Park multi-level Walgreens is getting close to completion. This is bustling area that has been filling retail space like lightening since the opening of Trader Joe's on Diversey back in 2011.  A city Wal-Mart opened early this year on Broadway.  There is a ridiculous presence of "Big Box" retail in this cool city location but many independents and smaller chain retail shops remain among the eateries.

Condo Sales 2013

Condo sales are are doing well in the immediate area of Diversey, Clark and Broadway. This happens to be one of the most popular spots to purchase condo homes for our clients. We've personally enjoyed the area and have been in tons buildings here.  Below is the sales area we are looking at roughly a few blocks radius of the intersection.

Condo sales around the Diversey, Clark and Broadway intersection.
144 one bedroom condos have closed in 2013 up to Dec 5th in this sample area.   The median for a one bedroom home is $187,000.  Only 103 one bedroom condos sold over the same period in 2012. Only 57 closed over the same period in 2011! 

There is a variety of high-rise, mid-rise and vintage buildings in the immediate area.  So, you can get a unique one bedroom home with various amenities that appeal to you.

Vintage condos on tree-lined Cambridge just off West Diversey Parkway

33 two bedrooms, one full bath units closed thus far.  The median price is about $265,000.  Only 17 units closed same period last year in 2012 and 14 units closed over 2011.

100 two bedrooms, two bathrooms condo units closed so far this year.  The median jumps to $345,000 (almost $100K more than the one bathroom units). Only 64 two bedrooms, two bathrooms condos closed same period 2012 and 48 units closed in 2011.

28 three bedrooms, two baths units closed this year.  The median price leaps to $515,000.  31 three bedrooms, two baths condos closed in 2012 (median was $485,000) and only 14 units closed in 2011.

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