Monday, July 11, 2016

North Center single family home sales 2016... hold on to your wallet!

I took a photo of this house a few years ago near Welles Park in North Center.  It's typical of newer construction homes in this increasingly high-end community.
North Center continues to be one of the most active single family home markets in terms of sales, strong re-sale prices and new construction houses.  Here's some fun facts from January 1st to about July 8th, 2016 of this year.

Single family home sales Jan 1st to July 8th, 2016
120 North Center single family homes have closed from January 1st to July 8th, 2016.  The median price of a home in the neighborhood is about $1,092,500.  Many homes up to the $750,000 price point (and occasionally more) are bought to tear down or gut renovate and expand. 115 homes sold over the same period in 2015 with a median about $1.1 million.  Very steady sales and prices year to year.

The highest North Center home sale price on the MLS this year is 1851 W Fletcher St , Chicago, Illinois 60657 for $2,500,000.  This house on a 75' wide lot has been a particular favorite of mine due to the "tucked away" feel to the location and it's side yard with sport court.

The lowest single family home sale is in the Picardy Place development at 1800 West Diversey Unit F for $433,000.  These small houses with attached garages are great condo/ town house alternatives.

$900,000 for a residential vacant lot
North Center has witnessed a new house construction boom for years.
Vacant lot and tear down sales in the neighborhood are quite the story.  The highest price sale for a vacant single lot sale in North Center this year (recorded on MLS) is $900,000 for 3901 N Leavitt St, Chicago, Illinois 60618. The corner lot measured 40 ft wide by 124 ft long and is located in Bell School district.  A "tear down" frame house 31'x125' lot at 2033 West Fletcher in Jahn School district caught $615,000.  The range for tear down lots vary greatly by size, location and school district boundaries.  Standard 25'x125' lots (less desirable for new construction) have caught over $500K for a tear down house.

The least expensive vacant residential lot sale is 2029 West George $241,000.  The irregular shaped lot (triangular lot) near North Clybourn is in a growing section of North Center.

I currently have the least expensive vacant residential lot listing for sale in North Center and Coonley School 1801 West Cuyler  offered at $199,900 has plans drawn for a modern home situated on the 17.5' x 124' lot near the CTA Brown Line at Irving Park.  It's a unique lot size but the free standing house floor-plan would mimic the width of row house or town home. Watch the video.

Contact me to buy and sell North Center and Chicagoland homes both on and off the MLS. 

No comments: