|Views from 451 W Huron in the River North neighborhood of Chicago's Near North. About 34% of attached unit sales were all cash transactions in 2014. (All photos Eric Rojas and Bob DePalma, Brokers, Kale Realty)|
Boy we love cash! And so do Chicago sellers.
We took a look at cash deals
in four of our more active markets. Downtown/ Loop (Area 32)
, Near North (Area 08)
, Lincoln Park (Area 07)
, and Lakeview (Area 06)
. Looks like big spenders spent big cash. Here are the percentage of cash deals on attached homes (condos/ townhouses) for each of these neighborhoods in 2014.
2014 average sale price and percentage of cash deals
had 2,538 attached home sales (condo and townhouse) with an average sale price of $565,226. About 34% of those deals were recorded in our MLS as all cash
. Interestingly the cash deal average was a whopping $634,552. Financed sales averaged less at $528,558.
|About 32% of Loop condo deals were all cash.|
had 788 attached unit sales with an average price of $475,254. About 33% of those sales were all cash
. Cash sales averaged $447,919 while financed sales averaged $488, 484.
|About 18% of Lincoln Park sold condo deals were cash in 2014|
had 1248 attached unit sales with an average price of $530,948. About 18% of those sales were cash.
Cash sales average price was $472,934. Financed sales averaged $543,847.
|About 17% of condo units sold in Lakeview were cash deals.|
had 1798 attached unit sales with an average price of $370,981 (far less than the other three examples). About 17% of those sales were cash with an average price of $283,307.
Financed deals averaged $389,317.
All stats gathered and interpreted by Eric Rojas and Bob DePalma, Kale Realty from MREDLLC.com our member MLS. Call us to buy, sell, rent in South Loop, Downtown/Loop and the greater North Side.