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.
All sales data gathered from MREDLLC.com and interpreted by Eric Rojas, Broker, Kale Realty
- 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.
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