Friday, February 15, 2019

Portage Park single family home sales, median price up 87% since 2012

Earlier this month I walked a "punch list" for a new construction home buyer in Portage Park. Several items needed to be completed before appraisal and closing. Nine contiguous new construction homes have been built adjacent to a traditional Tudor common in the neighborhood. All photos Eric Rojas, Broker, Kale Realty
Many of our home buyers are finding themselves in Portage Park these days. And why not? Extremely low inventory and budget busting prices in the likes of Lakeview, Lincoln Square, Lincoln Park and Logan Square have buyers turning to Portage Park for relatively affordable new construction homes. The northwest Chicago neighborhood offers plenty of commercial retail conveniences, a several CTA Blue Line and Metra stations (to the east of the neighborhood) and quite tree-lined streets.

A former bank parking lot that took up the majority of the 4900 block of West Dakin has been transformed into nine new construction single family homes.
Portage Park single family home sales 2018

A robust 453 single family homes were recorded closed on over 2018 (does not include off market closings which probably puts this over 500 closings). The median price for 2018 was about $320,000.

Median price is up 37% from 2012 and 87% since 2012.  

The highest priced closed home was 4743 North London, Chicago IL 60630 at $679,000. The four bedrooms new construction home sits on a 25'x126' near the large Jefferson Memorial Park and the Jeff Park Metra.  The lowest priced house sold for $140,000 cash.  The traditional Chicago bungalow at 4544 North Laporte was thoroughly damaged by fire. Around 65 of the closed homes sold were new construction or gut rehabbed homes. 

Past Sales
In 2015,  411 single family homes closed for a median price of $240,000.
In 2102, 355 single family homes closed with a median price of only $175,000!

More posts on Portage Park HERE

Contact us to sell and buy homes in Portage Park and greater North Side Chicago and suburbs. We offer the most competitive full service broker commission rates for selling, pre-market opportunities for buying and 20 plus years of experience in real estate transactions. Don't get ripped off!

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