Friday, October 10, 2014

Just sold: Client sells Lincoln Square condo with whopper deck!

The deck at 5067 N Lincoln Avenue #205 measure over 400 sq/ft with multiple seating areas for sun or shade (Photos by and Eric Rojas, Broker, Kale Realty).

We closed the deal on 5067 N Lincoln Unit 205 late last week for $338,500. The newer construction two beds, two baths condo with heated garage parking and building elevator featured fantastic private outdoor space.

Take a video walk-through

Recent Sales on North Lincoln Ave

This angled "bend" of North Lincoln Avenue from the 4800 N (West Lawrence) to 5200 N block (West Foster) is a distinctive mix of residential condo buildings, restaurants and businesses. About 12 attached homes (town house and apartment condos) have sold over the last 12 months with a median price of $365,000. The high median price reflects the mainly newer construction buildings that has been built on the mixed use strip.

I feel the location has a lot of upside due to it's location near the retail and entertainment center of Lincoln Square and the abundance excellent grocery stores and services. There are several small and multi-lot parcels available for sale that offer varying development potential among the recent successful residential developments. Several existing properties look ripe for re-use.

The stretch of North Lincoln from West Lawrence to West Foster mainly features newer construction condo buildings among restaurants and businesses. The cross streets are filled with residential two flats and single family homes.

9 attached units (condos/ town houses) over the same 4 block strip are currently under contract with a median price of $480,000 are currently under contract (not closed).  These contracts include a new building under construction with pending condo sales at $500,000 plus. 

As always we thank our seller client who worked closely with us on our sales plan.  We wish the purchasers (new to Chicago) many great years enjoying that deck and walking to "the Square"!

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