Thursday, June 16, 2016

Lincoln Square "duplex" condo sales, prices up

We are recently met with a client about selling their duplex condo in Lincoln Square.  I once owned a "duplex-down" condo in Lincoln Square and have helped clients buy and sell these types of condos in the neighborhood for years.
This duplex we sold some years ago offered a little drama with the it's two story open living room ceiling height.

Lincoln Square duplex condo sales January 1st to June 14th, 2016

Only eight duplex condos have sold this year in Lincoln Square. The median price about $415,000.  The highest closed sale is 4826 N Damen for $650,000.  The newer construction "duplex-up" home is 3,000 sq/ft with roof top deck.  Seven duplex condos sold over the same period in 2015 with a median price of about $325,000.  However, a brand new construction duplex-down unit sold for $730,000 at 4836 N Damen last year over the same period.  That looks like a record sales price number for a Lincoln Square condo thus far.

Seven duplex condos are currently under contract.  One development at 4545-47 N Wolcott has two new construction duplex-down units under contract at $749,000 (a possible new condo price record.

Here's another duplex-down we sold recently in the Lincoln Square/ Ravenswood neighborhood!

Many clients need space but neither can afford a single family house nor want the maintenance (oh, the maintenance!!). They often turn to duplex condos. "Duplex-up" and especially "duplex-down" condo units are a good alternative offering space and separation of floors that many single family homes provide.  Duplex units often have easy access to large outdoor spaces and storage.

Many duplex units afford owners a true lower level family room. Photo of 5006 N Winchester a duplex condo we owned from 2007 to 2010

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