Tuesday, November 17, 2015

The pizza effect: New construction condos across from Lou Malnati's, North Center

4351 N Lincoln was torn down to make way for new construction four unit building (three residential and one commercial unit). I don't see a sales transaction recorded for the former frame two-flat but nearby similar buildings sell in the mid $500s for the land. Newer construction three bedrooms, two baths condos on the block sell from $400K-$550K.
Two new condo buildinds are going up across the street from popular Lou Malnati's pizza restaurant.

I'm being a bit facetious about pizza. However, a lot of locals were very happy when the new Lou Malnati's opened earlier this year at 4340 N Lincoln Avenue in North Center replacing the aging Golden Angel diner.  The new construction restaurant was another round of investment in a booming area. Several newer construction condo buildings had already lined North Lincoln Avenue (including newer homes on nearby side streets). A new round of construction is in swing.

New construction at 4350 N Leavitt St , Chicago, Illinois 60618. The 3 unit building adjacent to Tiny Lounge was purchased for $540,000 by a local, active developer.
This Lincoln / Montrose / Leavitt intersection is probably the most central location in the great North Center and Lincoln Square neighborhoods.  Lou Malnati's family pizzeria, Tiny Lounge for upscale cocktails, Julius Meinl quality Austrian cafe and Monty Gaels sports bar and Apart Pizza... just to name a few places on the immediate corner. The bar and restaurant scene sits adjacent to popular Welles Park.

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