Wednesday, January 10, 2018

Sold for $600K, Lincoln Square house gets tear down treatment

4411 N Damen Avenue Chicago IL 60625 zoned RS3 (single family home or two-flat). Photo via Chicago Cityscape

There are many, many tear downs around town.  Once  in awhile I see one on my Chicago Cityscape updates that catches my eye. 4411 N Damen, Chicago IL 60640 in the far south corner of Lincoln Square has been sold twice in three years and will now be torn down for development. The property listed on (our MLS) as a "drive by only, tear down" sold for $475,000 to an LLC. That company sold the property in late 2017 for $600K to PFH Homes Inc. registered in Milton, Florida. There is little information on the PFH Homes online but my guess is they will be building a significant single family home.
I drove by the 4411 N Damen property on the way to another project.  The property is one door down from Fountainhead! (Photo Eric Rojas, Broker, Kale Realty)
The large 40'x152' lot resides near the desirable and expensive private school Lycée Français de Chicago and Montrose CTA Brown Line. It is close to Welles Park and all the great Montrose/ Lincoln amenities. Wide lot new construction single family homes priced around $2 million have sold well due to Lincoln Square's infrastructure improvements, bustling restaurant and bar scene and great nearby public and private schools. $600,000 is a pretty good deal for such a large lot.  There is a little price discount for a property on busy Damen. I think a new build house at this location can fetch up to $1.8M.

Contact me to find great properties (some off market opportunities) in Lincoln Square and throughout Chicago.

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