|4951 N Claremont on the right and 4955 N Claremont, side by side houses in Lincoln Square, both were for sale simultaneously and closed within two weeks of each other.|
4951 North Claremont sold for $460,000. The wide lot home seemed ripe to build a larger single family home on the 33' wide lot. The only caveat is the property is adjacent to a church parking lot. However at the sale price and size of the lot a large single family redevelopment seemed inevitable. No major permits were pulled and the new owner moved in with minor interior renovations.
4955 North Claremont sold for a bargain $410,000. The small house sits on a desirable 33' wide by 125' long lot. The house is yet to be occupied and there are no demolition or construction permits pulled. If I were a betting man I'd put money on this being redeveloped into a larger home. This was a great deal. This would also be a great spot for a three-flat considering many multi-units on this mixed use block. However, current zoning in this neighborhood does not allow new multi-unit construction on the residential blocks.
The single family home market in the immediate Lincoln Square area around Winnemac Park has pushed into the high-end territory. The median price of a sold home around Winnemac Park in 2018 is about $850,000.