Wednesday, May 18, 2016

Under Contract! Buyer clients secure double lot house in Lincoln Square

We represent the buyer clients on the purchase of 2454 W Carmen Ave , Chicago, Illinois 60625. The asking price was $650,000 then dropped to $639,999. 
Wow! A double lot in a great Lincoln Square location close to the Western Brown Line stop and endless restaurants, bars and shops.  Our clients are more than pleased to get a property with a full side yard at a great negotiated price.  The 50'x110' property at 2454 W Carmen features a "move-in-able" single family house and adjacent side lot.  The buyers plan to renovate the interior but you can function in the house as is with a few repairs. 

The pretty bay window on the second floor gets plenty of light from the south.
The listing price is $639,999 and the contract is now out of attorney review and pending closing. 

Only 12 Lincoln Square single family homes have closed 1st quarter in 2016. Unit sales are down 50% while dollar volume is down 44% for the first quarter.  Median price is down as well. I expect the sales numbers will catch up to last year over-all as there are many newly completed rehabs and new construction houses on the market now.

It looks like the lower end of homes were bought in the first quarter 2016 (several for renovation).  We are also seeing more activity in the northwest of Lincoln Square (while prices are strong) where homes sell for less than homes in the southeast end of the neighborhood that is located near the main retail strip.

Call us to buy or sell your Lincoln Square area homes!

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