Thursday, January 21, 2016

Newest Lincoln Square tear-down on Hoyne sold for $419,000, new house construction continues near Winnemac Park

Continuing the long trend in Lincoln Square a new house will replace the old frame two flat at 4957 N Hoyne (all photos Eric Rojas, Broker, Kale Realty).  
I walked by the construction site for 4957 N Hoyne this morning.  The frame two-flat has been sold twice in two years for re-development and has now been torn down.  The property sold to an LLC in 2014 for $437,000 and sold again late last year for $419,000.  The property is one door down from Winnemac Park and and easy walk to Damen, Lawrence and North Lincoln Ave amenities.

Only the front stairs remained as of this morning.
The area of Lincoln Square surrounding Winnemac Park has seen many new houses built over the past couple years. At least 20 new construction or complete gut rehab homes have been completed over the last 24 months that I am aware of in the area closely surrounding Winnemac Park  (sales area shown below excluding the even more active Bowmanville north of Foster)

At least 20 newly constructed homes or dramatic complete gut renovations have been completed in the shaded area around Winnemac Park. Many more have been completed in the Bowmanville neighborhood just north of Foster.
Most of the new house builds and gut rehabs over the past 24 months were sold retail on the market. There are a few homes in development offered for sale "off MLS" right now and a couple "private" builds completed for the property owners themselves in the sales area.
The gut houses have sold from the lower $800s and the new builds up to $1.5 million on a wider than standard lot in the shaded sales area.

The crew was working just after 8am this morning.
The 4900 block of North Hoyne is mostly in-tact with original builds.  A couple brick two-flats have been converted to single family homes but the facades are for the most part original.
Check out greater Lincoln Square sales here

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