Eric Rojas, Chicago Real Estate Broker

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Wednesday, February 12, 2014

Black Gold! Single family home sales up 33% in Gold Coast and other fun facts

The Gold Coast may be Chicago's most know and searched neighborhood internationally.  Housing stock is both historic and eclectic.  There are simply relatively few Gold Coast single family dwellings in existence and I gather most homes are bought for the lifestyle over pure necessity. A typical year averages one home sale a month.

Gold Coast row home entrance. Photo Eric Rojas, Real Estate Broker - Kale Realty
I use the YoChicago.com defined boundaries for the Gold Coast.   Oak Street on the south, North Avenue on the North, North Clark Street on the west and  Lake Michigan on the east.  You can do worse when looking for information on codified and generally accepted neighborhood information than YoChicago.com.

Gold Coast Single Family Home Sales 2013

Gold Coast single family home unit sales were up 33% year over year.  20 single family homes (both row and totally detached homes) sold in 2013. The median price for the year was about $2.3 million.  15 homes sold in 2012 with a median about $2.3 million as well.

The highest priced sale was a fairly astounding $7.125 million cash for 1336 N State Street (that great street!).  The 1914 home with fourteen rooms is completely detached, has corner exposure while totally renovated and restored to the highest quality.  It's the 4th highest sale price since 2007 and the 2nd highest sale price for a single lot home since 2007.

The lowest single family sale in 2013 was $970,000 cash for a late 1800s row house at 55 W Schiller.  The home was "untouched" since 1945 and in need of complete renovation and restoration.
Gold Cost row home entrance. Photo Eric Rojas, Real Estate Broker, Kale Realty
Twelve of the twenty homes sold for over $2 million.  Six of the twenty homes were sold ALL CASH including the highest three sales for the year (totaling almost $14 million).

2013:  20 homes sold with a median of $2.3 million
2012:  15 homes sold with a median of $2.3 million
2011:  10 homes sold with a median of $3.7 million
2010:  10 homes sold with a median of $2.4 million
2009:    9 homes sold with a median of $2.1 million

More Gold Coast posts here

Stats gathered and analyzed by Eric Rojas from MREDLLC.com, our local MLS

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