Tuesday, March 22, 2016

Early returns: Lincoln Square condo sales thus far in 2016

A deck at 5067 N Lincoln Ave in Lincoln Square. We sold the newer construction condo unit in 2014... watch the video!
We recently held a packed open house at 4949 N Lincoln Avenue in Lincoln Square signaling a lot of interest in the area this spring.  Let's see how early condo sales are doing.

Lincoln Square condo sales Jan 1st to March 18th, 2016
29 attached units (condos, town homes) have sold thus far in Lincoln Square 2016.  The median price is about $265,000.  The lowest sale price is a garden apartment unit for $114,000 at 5225 N Hoyne Unit G.  The highest priced sale is $650,000 at 4826 N Damen Ave Unit 3, Chicago, Illinois 60625.  The large penthouse unit has always been a perennial top price selling condo in Lincoln Square since construction.

Over the same period in 2015 (Jan 1st to March 18th) 42 attached units closed with a median price of about $250,000.  For all of 2015, (352) condo units sold with a median price about $250,000.  Higher list prices and relatively low inventory have slowed over-all unit sales as the bottom of the market has really cleared out.  Expect a little higher Lincoln Square prices this year with more new construction and retail development coming.

Several new condo buildings are in development in Lincoln Square and will add approximately 40 units of higher-end sales for 2016.

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