Tuesday, September 30, 2014

Two rare gut renovation projects in Old Town Triangle

This eye catching red frame home on 200 Block of West St. Paul and Crilly Court gets a full gut renovation (All photos Eric Rojas, Broker, Kale Realty). 
 I took a stroll around Old Town Triangle afte lunch at Nookies last week and noticed a couple interesting gut rehabs.   Old Town Triangle may be the most exclusive enclave on the North Side of Chicago.  Historic and charming as you wind through the tony brick paved streets Old Town Triangle is a lifestyle commitment.  You are a part of something special. And you pay for that.

General Old Town Triangle boundaries (map produced on MREDLLC.com, Eric Rojas, Kale Realty)

In the past 12 months the median price of an Old Town Triangle area detached single family home is about $1,500,000.  The median price of a small multi-unit property (2-4 units) is about $800,000 over the same period.  The 4 multi-unit sales were all on undersized Chicago lots.  The median price for attached condos and town homes (excluding high-rise buildings) is over $600,000.

A current gut renovation project on the 300 Block of West Menomonee at North Orleans.

The homes and property lots on average tend to be smaller, thus, price per square foot in this fantastic location a bit higher than what you will get east of North Halsted Street in Lincoln Park.  The condition of some of the homes may be more vintage and original due to various landmark restrictions.

The 300 block of West Menomonee (gut rehab on the far left).

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