|The wide lot at 2236 West Ainslie, Chicago IL 60625 is cleared for a new construction house.|
Just over a year ago the frame three-flat building at 2236 West Ainslie in Lincoln Square on a 37.5' wide lot was sold for $587,500
. It has recently been torn down to build a new construction house. It may be a record price for a comparable sized "tear down" lot north of Lawrence Avenue in Lincoln Square.
I reviewed sales over the last couple years and do not see a comparable price.
37ft wide lots (122ft deep) south of Lawrence have gone as high as $742,000 to tear down and build new. 2137 West Agatite near Welles Park
was sold last summer for $742,000 and was torn down. The newly built luxury house on that lot sold this year for $2,150,000.
|2224 West Ainslie a couple doors down to the east sold last year for $1,420,000. The 32ft wide lot sold for $450,000 (that property was torn down).|
The sale of a $587,500 lot to build a new house will mean an asking price of around $1.8 million or so for a developer finished product. The median price of all single family home sales north of West Lawrence Avenue in Lincoln Square in 2016 is about $750,000.
Contact me to buy or sell homes in and around Lincoln Square.
Post a Comment