Friday, June 10, 2016

Another North Center, Roscoe Village two-flat going the way of the Dodo bird

2006 photo of 3541 N Bell
From time to time we come across a demo permit that catches our eye.  It's nothing new to see a North Center two-flat torn down or converted to a single family home. In this case I happened to show 3541 N Bell building back in 2006 that eventually sold for $645,000 (closed in 2007).  The building is located in desirable Audubon Elementary Public School.

A demo permit was issued for the building yesterday.  My guess is the owners are building a house for themselves.

North Center Two-Flat Sales

23 two-flat buildings have been closed this year January 1st through June 9th, 2016 for a median price of about $610,000.  My guess is over half of the buildings will be torn down to build a new house or gut rehabbed to a single family home.  Even at top dollar North Center remains a really hot market for new home construction and two-flat conversions. 

About 90 single family homes have sold thus far this year with a median price of almost $1,200,000.

I remember when this popular Roscoe Village Starbucks opened at 2023 W Roscoe in the neighborhood... it was a bit of a controversy for shop local and anti-gentrification advocates.  Photo circa 2011 Eric Rojas, Broker, Kale Realty
Of course I get a little sentimental as I spent formative years renting in similar buildings in Roscoe Village.  Those were great times for many, many young (and not so young) people bunking with multiple roommates and hitting the dive bars in a still artsy, affordable neighborhood. I paid about $400.00 for my share of a large three bedroom apartment at Roscoe and Damen in the late 1990s.

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