Thursday, March 19, 2015

Condo sales on Irving park Road in North Center and Lakeview not so cheap

The slightly gritty, truly city views along the Irving Park Road "corridor" looking east from the CTA Irving Park Brown Line platform. The Metra train runs along North Ravenswood Avenue in the background. All photos Eric Rojas, Broker, Kale Realty
The neighborhood around West Irving Park Road and North Ravenswood maintains a cool city grit due to the remaining industrial buildings mixed in with residential buildings and store fronts.

Irving Park Road condo sales (Clark Street to Western Avenue)

33 condo units (attached homes including town house) have closed over the last 12 months along Irving Park Road. The sales are fairly mixed among vintage converted buildings and newer construction.  The median price of a condo along this stretch is a hefty $424,000.  The high unit prices sold reflect new construction and the relatively larger vintage options available along Irving Park Road at the price.

The property adjacent to popular soccer bar (The Globe Pub, 1934 West Irving Park Road, Chicago IL 60613) is slated to be three new construction residential units.
Buyers and builders look for cheaper alternatives in good locations when the real estate market gets hot. The busy four lane stretch of West Irving Park Road (from North Clark Street on the east to North Western Avenue on the west) has seen spurts of new residential development in the past 15 years. Builders and buyers can buy at a bit of a discount for the noisy street but benefit from the many transit and business options.

A large new construction residential building goes up adjacent to the CTA Irving Park Brown Line stop on Irving Park Road. A new three flat building is slated for construction a half block west.

No comments: