We're working with a client who will be listing a Lincoln Square two-flat for sale in June. The neighborhood is well known for it's large stock of residential two-and three-flats. However, more and more multi-unit buildings over the past 15 years have been converted or torn down to make way for single family homes. Let's take a look at this year's Lincoln Square two-flat sales numbers.
|Photo of Lincoln Square "greystone" two-flats (and converted two-flats to single family homes). Photo Eric Rojas, Broker, Kale Realty|
- 21 Lincoln Square two-flat buildings have sold thus far in the first five months of 2016 (January 1st through May 31st). The median sales price of a two-flat building is about $555,000. Only 10 two-flat buildings sold over the same period last year with a median price of about $500,000.
- The highest priced two-flat closed for $865,000 at 4532 N Damen Ave , Chicago, Illinois 60625. The gorgeous renovated "redstone" on a 178' long lot features a total of seven bedrooms and five bathrooms for the two units combined. This would most likely remain a two unit but these days you never know! It's possible to convert to single family even on the most expensive sales for the right location and building.
- The lowest priced two-flat sale this year is $399,000 for 2458 W Winona St. Chicago, Illinois 60625. The frame two-flat was a Fannie Mae HomePath bank owned (REO) property. It looks like from passing by the two-flat property is being converted to single family home.