|A quick walk around Ravenswood Gardens reveals many gut renovations in a small area near Waters school. These three multi-units are being converted to single family homes. All photos Eric Rojas, Broker, Kale Realty|
The buildings shown above left to right: 2445 W Eastwood Ave , Chicago, Illinois 60625 sold for $650,000 in June of 2014.
2449 W Eastwood Ave , Chicago, Illinois 60625 sold for $582,500 in March 2014 and
2451 W Eastwood Ave , Chicago, Illinois 60625 sold for $550,000 as a foreclosure in July of 2015. It's rare to see (3) adjacent two-flats all bought by different parties being de-converted to single family homes at the same time.
2451 West Eastwood has signage advertising the sale but there is no MLS listing at this time.
I wrote about another three adjacent home conversions on West Wilson a few weeks ago.
Two are owned by the same developer in this case.
2016 Ravenswood Gardens sales
|Ravenswood Gardens sales area in Lincoln Square|
Only (2) residential properties have closed in Ravenswood Gardens neighborhood thus far (March 8th) in 2016.
2500 W Eastwood Ave Unit 1, Chicago, Illinois 60625 closed for $299,000. The renovated two beds, two baths unit (no dedicated parking) is in an attractive vintage building.
4733 N Artesian Ave, Chicago, Illinois 60625 closed for $671,000.
The classic two-flat building sold quickly.
2015 Ravenswood Gardens sales
(6) single family homes sold in 2015. The highest sale was
4540 N Artesian Ave , Chicago, Illinois 60625 for $975,000.
The lowest sold single family home in 2015 was 2444 W Eastwood Ave , Chicago, Illinois 60625 for $545,000.
(27) multi-units (2-4 units) sold in 2015 with a median price of $600,000.
That's a big number for a small area and points to the demand and desire to develop single family homes (as mentioned above) in the Lincoln Square
area. Only (15) multi-unit buildings sold in 2014 and (9) buildings sold in 2013 in Ravenswood Gardens.
50 condo units sold in 2015 with a median price of about $266,500.
|Rockwell Crossing in Ravenswood Gardens features local shops and dining.|
Good school district, the North Branch of the Chicago River, desirable Lincoln Square retail and dining, CTA trains, good local private school options and vintage housing stock on tree-lined streets have pushed prices and sales up in Ravenswood Gardens.