Wednesday, March 13, 2019

East Lakeview "double lot" vintage sold for $1,275,000 in 2014, now new construction condo development

The original vintage property at 625 West Cornelia prior to 2014. The property was eventually torn down for development.   Photo provided by

We were back on the 600 West block of Cornelia in the East Lakeview neighborhood where a couple of our clients have bought condos.  We remembered a unique double lot vintage property (50' wide x 90' deep) sold for $1,275,000 in 2014 (pictured above).  It was eventually torn down and the new development is now almost complete five years later. 

625 West Cornelia is almost complete.  Six new construction units are offered for sale. 
The result is six  new construction units added to East Lakeview. Presently two units are being marketed on MLS.  A two beds one bath bath "Garden Unit" (1251SF) asking  $385,000 is under contract and a three beds, two baths "Unit 3" (1966SF) asking $825,000. You can see the listing and floor plan HERE
625 West Cornelia
New condo development along the residential streets of East Lakeview is relatively rare in this dense lakefront neighborhood. The packed leafy streets offer vintage beauties and we are often sad when they meet their demise. A little more delicate detail might have served this new building well.

A vintage building adjacent to the east with true sun rooms. 

East Lakeview condo sales last 12 months (Irving Park to Diversey/ Halsted to the lake)
164 condos listed at three bedrooms (3) sold in the last 12 months. The median price of a three bedrooms condo sale is $565,000 over the last year.

336 two bedrooms condos sold over that same period with a median price of only $287,000. 

388 one bedroom condos sold with a median price of $190,000.

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