Thursday, November 20, 2014

Sauganash Chicago single family home sales: Unit sales lower, prices UP 12.5% in the 60646

We negotiated a single family home purchase in the Sauganash neighborhood this week. The re-locating client who works in Streeterville was tempted by the burbs but quickly discovered that commute is no bueno! She was interested in the Forest Glen community area.  The Forest Glen area and the Sauganash neighborhood are favorite places to research and represent home buyers. The area offers diverse homes and  price points in attractive neighborhoods.

The Sauganash neighborhood is filled with unique, character filled homes.  The winding and angled streets set the neighborhood apart from typical city grids.  The aesthetic is very pleasing.
Need or want to stay in the city? Lincoln Square and North Center single family homes have priced you out? Need a well rated public elementary school? No problem.  It's time to look in the Sauganash neighborhood.

Sauganash boundaries as mapped by Sauganash is bounded by Bryn Mawr Ave (5600 N) and C&NW tracks north to Devon Ave (6400 N), Pulaski Rd (4000 W) and C&NW tracks west to Cicero Ave (4800 W)
 Sauganash Single Family Home Sales January 1st to November 14th, 2013

63 single family homes closed in Sauganash so far this year with a median price of 12.5% at $480,000.  78 homes closed over the same period last year with a median price of $427,000.  Once again we see a case of lower unit sales in the tight inventory market of 2014 but higher median prices.

The lowest priced house sold this year is 6105 N Lowell, Chicago IL 60646 closed at $205,000. This small two bedroom bungalow was pretty original from the late 1950s but looked like you could just paint and actually move in.  A nice location in a very good school district for $205K!

The highest priced home sold thus far is 6141 N Lemont, Chicago IL 60646.  The sprawling executive ranch on a 124'x124' lot (!) sold for $915,000 in May. Interestingly the property was purchased by revered institution Misericordia Home.

For sale, under contract

22 homes are currently listed for sale in the Sauganash neighborhood. Listing prices range from $365,000 to about two million (the "lower end" priced homes are move in quality which makes this a good value neighborhood). 9 homes are priced under $500,000.

Eight homes are currently under contract.  Prices range from $249,000 to about $700,000.  The lower end homes in this range can also be moved in quality (not tear downs). 

The lowest home under contract is a short sale at 6330 N Kedvale, Chicago IL 60646 for $249,000.  The basic three bedrooms, two baths small brick bungalow is in good shape on a double wide lot (55"). I expect it will sell over the $250,000 asking price.  It appears to be a tangled up short sale process taking a long time to get sale approval from the lenders (this depresses the price).

Call us to stay in Chicago and widen your home search!

1 comment:

Steven Vance said...

Chicago Cityscape uses a boundary of Sauganash that is slightly larger, including the group of homes on the other side of the railroad tracks near Peterson/Pulaski.