Tuesday, October 23, 2018

Kenwood single family home sales (and the Obama house photo-op)

We decided to take a photo in front of this house at South Greenwood and East Hyde Park in the Hyde Park-Kenwood neighborhood.
My oldest son played hoops on 47th Street in the Kenwood neighborhood last week.  I used the occasion to walk him over to Mr. and Mrs. Obama's residence for a picture.  It was my son's first tour through the magnificent Kenwood mansions and his first visit to our former president's house. This was an enjoyable excursion for us and a good opportunity for a history lesson. My son got to dream a little.  I may have shed a tear in front of 44's house...

A large, dreamy estate in the Kenwood neighborhood. 
The modern and contemporary homes that sprinkle Kenwood are my favorite (although I did not get very good photos on this walk).
This was another large property with lots of land.  However, many of the vintage home are in need of upkeep.
The Kenwood neighborhood footprint.
Kenwood home sales January 1st to October 19th, 2018

34 single family homes have closed in the Kenwood neighborhood this year. The median price of a closed home is $600,000.  Eight homes have sold over $1,000,000. The highest sold home is 5008 N Greenwood, Chicago IL 60615 for $1,850,000. The large classic estate home had many renovations and sits in the "mansion" area of Kenwood. The lowest priced sold home is 828 East 47th Place, Chicago IL 60615 for $121,900. The tenant occupied row home sold as a foreclosure and the buyer was not allowed entry prior to purchasing while.  For that price you take the chance!

Past sales notes
The unique mansion area, many vintage row houses and diverse housing stock 
coupled with wide swings in socioeconomic demographics north and south of 47th Street make for a quirky real estate market.  The median price of a house has stayed fairly consistent over the years despite fluctuations in unit sales numbers. 

-Two years ago in 2016, 24 homes sold over the same period with a median price about $595,000.  A couple homes sold over $2 million that year.
-In 2014, 21 homes sold with a median price about $500,000.  The highest sold house closed for $2.7 million.  
-Seven years ago in 2011, just 13 homes sold over the same period with a median price right around $500,000.  Yet a fully renovated house on an average sized 60' x 179' lot for the Kenwood mansion area sold for $2.3 million.

This contemporary is getting a little work done.

Several homes are of the Art Deco variety. 

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