Friday, March 10, 2017

Sold for $449,000, Lincoln Square frame two-flat to be converted to single family home

A small frame two-flat in Lincoln Square near Winnemac Park will become a newly renovated single family home.  2239 W Carmen was sold quickly last summer for $449,000 (MREDLLC.COM). The building sits on a wide 31' lot (desirable for new construction and gut rehab single family homes). The new owners will expand the home with second story and two-story rear additions according to building permits.

Sales area surrounding Winnemac Park: Ravenswood to Western and Foster to Lawrence.
Home sales around Winnemac Park in Lincoln Square

23 single family homes closed in the immediate footprint around Winnemac Park in 2016 with a median price of $850,000 ($850,000!). Median price is up 10% over 2015.  A bevy of newly constructed homes boosted median price for the this increasingly popular area for home buyers.  38 homes sold over 2015 with a median price of $770,000.

22 multi-units sold (2-4 flats) over 2016 for a median price of about $575,000.  18 multi-units sold over 2015 with a median price about $535,000

Winnemac Park area prices have skyrocketed over the past five years due to major retail, school and infrastructure additions to the already established parks and culture of Lincoln Square.

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