Friday, January 09, 2015

Taylor Street, that great (restaurant) street: Condo sales in Little Italy, University Village

We had a great dinner in Little Italy Saturday with friends at the long time hip, yet warm Davanti Enoteca, 1359 West Taylor Street, Chicago IL 60607
Everyone knows that Taylor Street has a ton of great restaurants.   With all the great choices now in Chicago to eat and live we may forget about an original foodie destination... Little Italy.  The area is also a robust residential area to live serving many close by Chicago institutions, universities, transportation, highways and the Loop. What's it cost to live in a condo in Little Italy/ University Village neighborhood?  How are sales looking?

University Village neighborhood map Google Maps and

Little Italy/ University Village condo sales 2014
Sales mimicked many of Chicago's desirable sub neighborhoods where we see actual units down a bit and median prices up a bit.

149 attached units (condo, town houses) sold in 2014. Many on streets with "Village" and College" in the name.  The median price for a condo in this near Loop location is about $275,000. 170 units sold in 2013 with a median price of $262,500.

The highest priced attached home sale in University Village  for 2014 is a town house style  at 727 S Racine Unit A, Chicago IL 60608 for $640,000.  The large "Tuscany Club Villa" home was built in 1994, has three bedrooms, three and one-half baths, a finished lower level, two car garage (with additional two car parking pad) and is a few blocks from the heart of Little Italy dining.

The lowest condo sale is 1550 S Blue Island Ave, Unit 1019, Chicago IL 60608 for $80,000.  The two bed, one bath condo sold as a short sale with a conventional loan (not cash).  The condo has a modern concrete loft style and looked to be in great shape.  The 1550 S Blue Island condo building had the ten lowest sales out of the 149 unit sales. 9 of 10 of those units were listed as one bedroom units.

The University Village neighborhood shares its name with a large residential and commercial development that began in the late 90s. The neighborhood is part of Near West Side, one of the city's 77 official community areas.
The neighborhood's boundaries are 16th St to the Eisenhower Expressway, the Dan Ryan Expressway to Ashland Ave (1600 W). Little Italy / Taylor Street is a part of University Village.
ZIP codes: 60607, 60608.

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