Saturday, February 07, 2015

Rare Noble Square Single Family home sales in West Town

Wicker Park's southeastern cousin Noble Square in West Town has benefited from the popularity of the first "hipster" now modern high-end neighborhoods to the northwest. How are house sales doing?

Noble Square single family and multi-unit sales 2014

Only two (2) single family homes sales were recorded on the MLS in all of 2014 in Noble Square. Both were small "workers cottage" style homes know for the area and both sold around $400,000.  1461 West Cortez, Chicago IL 60642 is a small two story (3) bedrooms home in good move-in condition and sold for $412, 000.

However, 5 homes sold in 2013 with a higher median price of about $700,000.  It is strange that no higher-end single family homes sold in 2014 despite the good market.

No homes are currently listed for sale or under contract in the Noble Square boundaries.

It's also strange in this market that more small multi-unit buildings would sell for more money than single family houses in West Town.  Five (5) multi-unit buildings (2-4 units) sold with prices from $370,000 to $640,000 in 2014.  

 1530 West Thomas, Chicago IL 60642 is a true three-flat building with the units in good condition that sold for the $640,000. Seven (7) multi-unit sales were recorded in 2013 with a median price of about $325,000.  5 of the 7 sales were cash deals.

Noble Square boundaries. Image
Single family home sales past 5 years
2014   2 homes sold with an average price about $406,000
2013   5 homes sold with a median price about   $700,000
2012   5 homes sold with a median price about   $300,000 (however the two highest sales were $681,500 and $1,000,000).
2011   3 homes sold with a median price of about $450,000
2010   1 house sold for $595,000

Single family homes seem to be hard to come by in this old, established neighborhood near the new action.

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