Tuesday, September 19, 2017

North Park, Chicago home sales continue to offer value

Homes on the 5200 block of North Spaulding Avenue in North Park, Chicago (All photos Eric Rojas, Broker, Kale Realty)
We have several new clients reaching out to us looking for homes in the Lincoln Square area. However many buyers quickly find their budget does not go very far.  Enter North Park... the neighbor to the northwest! North Park has diverse single family home offerings from $350,000 to $600,000 that include classic brick bungalows, frame cottages and Tudor style homes.

 I spend a lot of time at the universities, parks and businesses of north Park. Let's take a look at single family home sales this year.

The charming outdoor dining at Tre Kroner, North Park neighborhood.
46 single family homes have closed in the North Park Community Area from Jan 1st this year to September 15th. The median price of a home sale is $355,000 (compare that with Lincoln Square around $700,000 now). The highest sold home during this time is $650,000 for a cool custom Art Deco built in 1935 at 5859 North St Louis Avenue, Chicago IL 60659

The lowest priced sold home is 3435 West Carmen for $210,000.  This was a short sale but a real steal. The home looked to be in good shape and sits in a neat pocket backing up to the Chicago River and near the Kimball Brown Line stop.

62 North Park single family homes sold over the same period in 2016 with a median price of $372,000.  In 2015, 66 homes sold with a median price of about $315,000.

Looking west over the North Park Community Area from the newer medical office building at Swedish Covenant Hospital. Along with Swedish, big employers are North Park University and Northeastern Illinois University.
Multi-unit sales (2-4 units)
Small multi-unit buildings are a great way to get your desired location and have income to help the mortgage. They can also be very flexible long term real estate investments.

Eight multi-unit buildings closed in North Park over the same period 2017 for a median price of about $425,000.

Call us to buy and sell North Park and North Side Chicago properties!

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