Monday, April 11, 2016

Home sales in Old Norwood Park "circle" of Chicago, median price at $370,000

The easily recognizable red awning near the Old Norwood Park "circle" of homes.
My clients viewed a great house in the Old Norwood Park neighborhood of Chicago on Sunday. The historic district is also known as the "the circle" due to the shape of the streets.  The house was located in the southeastern part of the neighborhood near the Norwood Park District facility and across from Taft High School. The views off the back of the home reminded us of a Harbor Country, Michigan vacation home... you quickly forget you're in the city!

Old Norwood Park located in the far northwest side of Chicago runs roughly Northwest Highway on the northeast, Bryn Mawr on the south and Harlem Ave on the west.

About 30 homes have been recorded as sold in the MLS for the Old Norwood Park neighborhood boundaries.  The median price is about $370,000.  This price will get you a more modest 3 bedrooms home in good condition located near the outer borders of the neighborhood.  However, as you get more central and into the "circle" streets the price goes way up for houses that need complete renovation.

A couple typical, more affordable homes near the Metra station and businesses of Old Norwood Park.  Homes with grand 50'x200' lots will sell in the $500s and up depending on condition.
 Lowest sale price in the last 12 months is $170,000 cash at 5885 N Harlem Ave, Chicago, Illinois 60631. The bungalow on busy Harlem Ave was a foreclosure sale and in need of complete gut renovation. The highest sale in the last 12 months is $785,000 at 7122 W Peterson Ave, Chicago, Illinois 60631. The gorgeous renovation faces Norwood Circle Park.

Nine homes are currently under contract with the highest asking price of $929,000 at 5945 N West Circle Ave, Chicago, Illinois 60631.  The median price of a home under contract is about $415,000.  Eight homes are currently listed for sale with a median asking price of about $520,000.

Most homes in the interior of Old Norwood Park boundaries reside in the Norwood Park Elementary School district and Taft High School district.

No comments: