Saturday, October 18, 2014

North Park single family homes offer real value under $400,000

I've long felt the North Park neighborhood offers real value for single family home buyers on the North Side of Chicago. It may not be the most commuter friendly in terms of trains (the Kimball CTA Brown Line stop is the closest train to downtown) but it does offer reasonable bus access, great bike routes and relatively short drives to large employers throughout the North Side and North Shore.  

North Park delivers on charm! (all photos Eric Rojas, Broker, Kale Realty)
Large public parks (River and Legion among others) and proximity to several university campuses (North Park University, Northeastern Illinois University and  Northwestern University) are the most attractive draw for me to this area. Most blocks are leafy and green. The brick homes and unique architecture found in most areas of North Park can be truly charming.

North Park single family home sales 2014 (January 1st to October 17th)

50 single family homes have sold in the North Park Community area from January 1st to October 17th this year.  The median price is for single family home is just $280,000. 

The highest sale this year in North Park is 4316 W Summerdale for $541,000.  The large 1999 built suburban style home with four bedrooms on the second level is located in a unique subdivision just west of St Lucas cemetery (near parks and nature walks) at Foster and Pulaski.  43 of the 50 single family home sales closed for under $400,000.

Compare that with popular Lincoln Square just to the southeast at $650,000 range and you start to see the value.  50 homes sold over the same period in 2013 with a median price of $270,000.  Although two homes topped $600,000 last year.

Custom beauties dot the leafy residential streets of North Park
Under contract and for sale homes
13 single family homes are currently under contract. The median price of under contract homes is about $320,000.  31 homes are currently listed for sale in the MLS.  The median price of an offered house is about $350,000. 

You'll see many homes engulfed in mature landscaping.
Two homes are offered for over $1,000,000.  6127 N Monticello is a new construction home on a 60' wide lot listed at $1,399,000. Two blocks north a custom built re-sale house on a 68' lot is listed at $1,300,000.  The nine bedroom house with nine and two-half baths has been on the market for the better part of 3 years (starting at $1.7M).

Many condo owners looking for more space and a yard are discovering neighborhoods like North Park and Portage Park to buy a house. If you need to expand your search for a house please contact us.  We may have options in attractive neighborhoods you had not previously considered.

No comments: