Wednesday, November 11, 2015

Residential sales on North Southport Ave in Southport Corridor of Lake View, condo median price at $624,000

A rare stretch of small rental buildings remain on the east side of the 3300 block of North Southport.  The tony Southport Corridor area is home to expensive new construction single family homes and condo buildings.  North Southport Avenue has newer condo and (massive) commercial spaces represented on most blocks.   It seems like a stretch of 6-8 original buildings in this location is unheard of these days.    

The "untouched" section of the 3300 block of North Southport could change soon with 3303 N Southport pictured in the middle (a small 4 unit building with $6,200 month rent roll) recently sold for $888,000 on a standard 25'x125' lot.
Residential Sales
I was on North Southport Avenue this week viewing a property.  There have been 28 residential sales on busy 3200-3900 North Southport Avenue... otherwise known as the Southport Corridor. 26 of those sales were attached (condo or townhouse style) homes with a median price of about $624,000.

Two small multi-unit sales were recorded in the MLS over this period.  3706 N Southport Ave , Chicago, Illinois 60613 a 3 unit mixed use building sold for $902,000.  3303 N Southport Ave, Chicago, Illinois 60657 (pictured above) has sold recently for $888,000.   

Typical newer construction mixed use buildings with residential condos and ground floor retail along North Southport Avenue in Southport Corridor.
Analysis based on property sales recorded in the MLS ( it is possible some transactions occurred during the lat 12 months that are not recorded on the MLS but eventually recorded in public records.

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