Monday, February 16, 2015

Three new construction homes on 2200 block of West Wellington in Hamlin Park, North Center

Looks like two "speculation" homes being developed on the 2200 block of West Wellington just east of North Oakley and near Hamlin Park.  There is no listing up on the MLS as of yet for the houses.
Developers and home buyers continue to redevelop the landscape in the hottest neighborhoods.  These new construction homes show here are situated in a small "out of the way" block west of Hamlin Park in North Center.  The block is a handful of new and original single family homes"one way" headed east.  Each end of the block has a commercial building.

The immediate area is a mix of a few remaining commercial buildings and residential blocks.  The block is tucked away making it very quiet yet close to Roscoe Village dining and the big box shopping of Cylbourn Ave.

Another new house just a few doors down to the east. No MLS listing up yet.

Almost half this side of the block is now under construction.
The new construction boom continues into 2015.  We've noticed the impact of commercial construction on major arterial streets over the past two years. We see no let up in new house construction around the city as well. You can save money buying and building on the "fringe" of the hottest areas. These houses will cost less than homes built just east of North Damen Avenue in the same neighborhood.

Image of Hamlin Park area, Google maps and

58 homes closed in the last 12 months in the Hamlin Park sub neighborhood of North Center. These houses include the Picardy Place development of small single family homes.  The highest priced closed home in Hamlin Park last year was 1909 West Fletcher, Chicago IL 60657 for $1.7 million.  The new construction home is built on a 31.5 foot wide lot (wider than a standard Chicago lot).

The lowest sold home of 2014 was 3044 N Clybourn for $325,000.  The converted two-flat was a foreclosure in need of gut renovation after sitting vacant.

The median price of a house in the last 12 months in Hamlin Park neighborhood is about $624,000.

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