Friday, January 17, 2020

Lincoln Square bungalow property sold for $1,090,000, demolished to build two new houses

A Chicago bungalow was demolished in Lincoln Square just before the holiday at 4834 N Leavitt. I took this photo when only the sun room portion was left standing. The bungalow and vacant side lot measuring a total 60'x124' were sold for $1,090,000 to develop two new houses. All photos Eric Rojas, Broker, Kale Realty
Early last year a desirable double lot property at 4832-34 North Leavitt Chicago IL 606025 in Lincoln Square sold for $1,090,000 (according to public records). According to the MLS listing each lot measured about 30' wide and 124' long. That's $124.00 a square foot for the land... $545,000 per lot! 

Photos of the original house I took in 2013.
I did a quick post about the property back in 2013 due to its large side yard and sprawling gardens. There are very few vacant residential lots hanging around Lincoln Square. Several properties with side lots have recently sold for development ( 2438 West Carmen for example ) and one triple lot is currently for sale ( 2610 West Winona ). Occasionally a high-end home owner will acquire a home next door and tear it down for a side yard.  

Sales around Winnemac Park

Sales around Winnemac Park and 4832-4834 N Leavitt
The property is a short walk to Lincoln Square restaurants, CTA Brown Line and Winnemac Park. The median price of a single family home in the neighborhood surrounding Winnemac Park over 2019 was about $750,000. 
I've walked and/or driven by the property over a hundred times. The garden was often my first site of spring. 

The vacant side lot existed as a large garden for decades. Vacant side lots don't last forever in bustling areas like Lincoln Square.
The lowest priced single family home to sell was 4807 N Seeley for $405,000. The property lot measured 25'x122' and the small house was torn down to build a new house. The highest sold home in the immediate area around Winnemac Park was 4918 N Seeley for $1,340,000.  The new construction home was built on a 26'x122' lot.  

Contact us to buy and sell homes in Lincoln Square, the North Side and near suburbs.

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