Tuesday, June 16, 2015

"Tear down" sells for $980,000, new condos coming to 2812 N Mildred in Lakeview

A lot is cleared on the 2800 block of North Mildred near West Diversey.  Demand for new construction condo units seems to have no end in site in Lakeview and Lincoln Park.
A construction permit for a 4 unit building was issued for 2812 N Mildred, Chicago IL 60657 in Lakeview this past May 2015.  The original frame property on a slightly over-sized city lot sold for $980,000 according to public records in May 2014. The hot Lakeview / Lincoln Park hub has great access to the CTA Brown line, buses, the lakefront and night life.

A four unit condo building built in 2007 on the corner of Diversey and Mildred ( 902 W Diversey #3, Chicago IL 60614) has a 3 beds, 2 baths unit under contract asking $639,000.  The new units will command a premium for the quieter Mildred address along with new bells and whistles.
The adjacent alley to the south will allow better sunlight for the units.
Median sold price for three beds, two baths condos with garage parking in the immediate area is currently about $550,000.

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